Press release from PR Newswire
Host Hotels & Resorts, Inc. Announces the Election of Walter Rakowich to Its Board
Wednesday, February 08, 2012
Host Hotels & Resorts, Inc. Announces the Election of Walter Rakowich to Its Board16:15 EST Wednesday, February 08, 2012BETHESDA, Md., Feb. 8, 2012 /PRNewswire/ -- Host Hotels & Resorts, Inc. (NYSE: HST) today announced that on February 2, 2012, the board of directors increased its size from eight to nine directors and elected Mr. Walter Rakowich to the board of directors effective as of March 1, 2012. (Logo: http://photos.prnewswire.com/prnh/20060417/HOSTLOGO )Mr. Rakowich is currently the co-chief executive officer of Prologis, Inc. (NYSE: PLD), the leading owner, operator and developer of industrial real estate focused on global and regional markets across the Americas, Europe and Asia. Mr. Rakowich became a member of the Prologis board in 2004 and continues in that capacity today. From November 2008 to 2011, Mr. Rakowich served as chief executive officer of Prologis, having previously served as president and chief operating officer from 2005-2008, and as managing director and chief financial officer from 1998 to 2005. Previously, Mr. Rakowich held the position of senior vice president and director of the company's mid-Atlantic region. Prior to joining Prologis, Mr. Rakowich was a partner with real estate provider Trammell Crow Company, where he worked for nine years; before that he was a senior audit and tax consultant for Price Waterhouse. Mr. Rakowich serves on the real estate advisory boards of the Kellogg School of Management at Northwestern University, Smeal College of Business at Pennsylvania State University and Owen Graduate School of Management at Vanderbilt University, as well as on the global leadership council at Colorado State University. In addition, he served on the executive committee and currently serves on the board of governors for the National Association of Real Estate Investment Trusts (NAREIT)."We are pleased to have Mr. Rakowich join our board. He brings significant expertise and knowledge of the real estate industry in both domestic and international markets," said W. Edward Walter, president and chief executive officer of Host Hotels & Resorts, Inc.ABOUT HOST HOTELS & RESORTSHost Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 105 properties in the United States and 16 properties internationally totaling approximately 65,000 rooms. The Company also holds non-controlling interests in a joint venture in Europe that owns 13 hotels with approximately 4,200 rooms and a joint venture in India that that has invested in the development of seven hotels in three cities with approximately 1,750 rooms. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, Le Meridien®, The Luxury Collection®, Hyatt®, Fairmont®, Four Seasons®, Hilton®, Swissotel®, ibis®, Pullman® and Novotel®* in the operation of properties in over 50 major markets worldwide. For additional information, please visit the Company's website at www.hosthotels.com.* This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release. SOURCE Host Hotels & Resorts, Inc.For further information: CONTACT: Gregory J. Larson, Executive Vice President Investor Relations, +1-240-744-5800, of Host Hotels & Resorts, Inc.