 Atlanta,
GA � December 2001 � BRE/Homestead Village L.L.C. recently announced the
appointment of Gary A. DeLapp to President and Chief Executive Officer
and F. Joseph Rogers as Chief Financial Officer.
DeLapp�s
promotion from Managing Director to President and CEO became effective
with the acquisition of Homestead
Studio Suites Hotels by an affiliate of The Blackstone Group on November
20. In his new role, DeLapp will be responsible for managing all aspects
of the company�s 112 extended-stay hotels located in 28 states.
�Despite
today�s difficult operating environment, we are excited about the acquisition
of Homestead,� said Jonathan D. Gray, Senior Managing Director of Blackstone.
�We have confidence in the quality of the company�s assets, the strength
of its management team, led by Gary DeLapp, and the excellent price/ value
proposition that Homestead offers its customers.�
DeLapp
joined Homestead in February 1996 and was named Vice President in the operations
group in May 1996 and Senior Vice President in December of that year. Most
recently DeLapp held the position of Managing Director with responsibility
for daily operations. Prior to his arrival at Homestead, DeLapp was a partner
and Senior Vice President of Vista Host, an independent hotel management
company based in Houston, Texas. He is a graduate of Florida State University.
�With
their lodging experience, we feel fortunate to have been acquired by a
company such as Blackstone,� said DeLapp. �Their investment in Homestead
is a positive indicator of their commitment to our continued success in
the extended-stay market.�
F.
Joseph Rogers was promoted to CFO also on November 20, assuming responsibility
for the finance organization in addition to the accounting and reporting
functions. Rogers joined Homestead in August 1996 as Vice President, and
served most recently as Controller. Prior to this, he was Vice President
of Security Capital Group Incorporated from 1992 to 1996. Rogers began
his career as a senior manager with KPMG Peat Marwick and holds a B.B.A.
in Accounting from the University of Oklahoma. He is a Certified Public
Accountant in the state of Texas.
About
BRE/Homestead Village L.L.C.
BRE/Homestead
Village L.L.C., based in Atlanta, is an owner and operator of more than
100 extended-stay hotels in 28 states under the Homestead Studio Suites
brand. Homestead provides a quality lodging experience for the growing
ranks of travelers needing lodging for three nights or more. Each studio
suite features a fully equipped kitchen, work area with computer dataport,
free local calls and voicemail that can be personalized.
Additional
information about Homestead Studio Suites Hotels is available on the company�s
web site at www.homesteadhotels.com.
Contact:
Karen K. Burke
(t)
(770) 303-8364
(f)
(770) 980-2311
kburke@homesteadhotels.com|
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