By Craig Karmin
Loews Hotels & Resorts has named Kirk Kinsell as chief
executive, poaching a top executive from the larger
InterContinental Hotels Group PLC.
Mr. Kinsell, president of the Americas for InterContinental and
a 35-year industry veteran, will replace CEO Paul Whetsell,
effective March 2. Mr. Whetsell will become vice chairman,
according to Loews.
At InterContinental, Mr. Kinsell, 59 years old, was heavily
involved with the development and launch of the boutique Hotel
Indigo brand as well as the Even Hotels line, which emphasizes
health and fitness. He also was involved in developing Holiday Inn
Express, one of InterContinental's most profitable and
fastest-growing brands.
Shares of InterContinental fell 0.8% to $40.77 in 4 p.m. New
York Stock Exchange Composite trading on Tuesday. Shares of Loews
Hotels parent company Loews Corp. rose two cents to $41.25.
Mr. Whetsell, 64, started in January 2012. Johnathan Tisch,
Loews Hotels chairman, said Mr. Whetsell told him a year ago that
he was thinking of stepping aside and Loews quietly began searching
for a successor.
Mr. Tisch said Loews would continue to focus on its core product
of luxury hotels, but added that "we are open to many different
options." The company has said it also is preparing to launch a
luxury lifestyle brand early next year.
Elie Maalouf will take over as head of the Americas at
InterContinental. He is the former CEO of HMSHost Corp., an airport
food services company, and is currently an adviser with McKinsey
& Co.
New York-based Loews Hotels & Resorts owns or operates 23
hotels and resorts in the U.S. and Canada, including hotels opening
soon in Chicago and Orlando, Fla. InterContinental manages or owns
about 4,700 hotels and 697,000 rooms world-wide.
Write to Craig Karmin at craig.karmin@wsj.com
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