Press release from Business Wire
Blackstone and La Quinta Announce New Members to the La Quinta Board of Directors
<p class='bwalignc'> <i>Henry Cisneros, Mit Shah and Alan Bowers to Join La Quinta's Board of Directors</i> </p>
Thursday, August 22, 2013
Blackstone and La Quinta Announce New Members to the La Quinta Board of Directors09:00 EDT Thursday, August 22, 2013
NEW YORK (Business Wire) -- Blackstone (NYSE:BX) and its Real Estate portfolio company, La Quinta Inns & Suites, today announced that Henry Cisneros, Mit Shah and Alan Bowers will join La Quinta's Board of Directors.
Bill Stein, Global Head of Asset Management of Blackstone's Real Estate Group said, “We are pleased that Henry, Mit and Alan have agreed to lend their considerable talents and expertise to the board of La Quinta. Their collective experience will be invaluable to La Quinta as the company continues to grow.”
Wayne Goldberg, President and Chief Executive Officer of La Quinta said, “This is an exciting time for our company. We look forward to capitalizing on the experience and knowledge these new board members bring as we continue to accelerate the growth of the La Quinta brand.”
Mr. Cisneros has over 25 years of combined public and private sector experience. He currently serves as Chairman of the CityView companies. Mr. Cisneros began his career in public service, serving three terms as a City Council member of San Antonio, Texas, and in 1981, he became the City's first Hispanic-American mayor. He was later appointed to be Secretary of the U.S. Department of Housing and Urban Development under the Clinton Administration. Previously, Mr. Cisneros formed Cisneros Asset Management Company, a fixed income management firm and also served as President and Chief Operating Officer of Univision Communications. Mr. Cisneros currently serves on Univision's Board of Directors, is Chairman of the San Antonio Economic Development Foundation, a member of the advisory boards of the Bill and Melinda Gates Foundation and the Broad Foundation. He is also an officer of Habitat for Humanity International. Mr. Cisneros holds a Bachelor of Arts and a Master's degree in Urban and Regional Planning from Texas A&M University. He earned a Master's degree in Public Administration from Harvard University and holds a Doctorate in Public Administration from George Washington University. He previously served as an infantry officer in the United States Army. Mr. Cisneros has been inducted into the National Association of Homebuilders (NAHB) “Builders Hall of Fame” and honored by the National Housing Conference as the “Housing Person of the Year.”
Mr. Shah has more than 20 years of experience in the lodging industry. He is the Chief Executive Officer and Senior Managing Principal of Noble Investment Group, which makes value-added, opportunistic investments in the lodging and hospitality real estate sector. Mr. Shah is President of Marriott International's MINA board, a member of the owners' board for Hyatt Hotels Corporation and a board member of the Lodging Industry Real Estate and Finance Advisory Council (IREFAC).
Mr. Shah serves as Vice Chairman and executive committee member of the Board of Trustees for his alma mater, Wake Forest University, where he chairs the audit, compliance and risk committee and the nominating committee. He also serves as a board member for the Wake Forest University Health Sciences. In addition, Mr. Shah is an executive committee member of the Woodward Academy governing board and a trustee of the University System of Georgia Foundation.
Mr. Bowers has over 30 years of business experience and has been an active member of several boards, serving in a number of roles including Audit Chair and Lead Director. Previously, Mr. Bowers served as President, Chief Executive Officer and a member of the board of Cape Success, LLC, MarketSource Corporation and MBL Life Assurance Corporation. Mr. Bowers was formerly a Managing Partner at Coopers & Lybrand, L.L.P., a predecessor to PriceWaterhouseCoopers. Mr. Bowers holds a Master of Business Administration from St. John's University, a Bachelor of Science degree from Montclair State University and is a Certified Public Accountant.
About La Quinta:
LQ Management L.L.C. is one of the largest operators of select-service hotels in the United States. Based in Irving, Texas, the Company operates and provides franchise services to more than 800 hotels in 46 states, Canada and Mexico under the La Quinta Inn®and La Quinta Inn & Suites® brands. For reservations or more information about La Quinta, please visit www.LQ.com or call 1-800-SLEEPLQ. Follow La Quinta Inns & Suites on Twitter @LQ or on Facebook facebook.com/laquinta.
About Blackstone Real Estate:
Blackstone is a global leader in real estate investing. Founded in 1991, Blackstone's real estate business is the largest opportunistic real estate investment manager in the world, with more than $64 billion in investor capital under management. Blackstone's portfolio includes hotel, office, retail, industrial and residential properties in the U.S., Europe and Asia. Major holdings include: Hilton Worldwide, Equity Office Properties, Brixmor shopping centers and London's Broadgate office complex. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies they invest in, the companies they advise and the broader global economy. In addition to managing real estate private equity funds, our alternative asset management businesses include the management of private equity funds, hedge fund solutions, credit-focused funds and closed-end mutual funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.
For La Quinta
Teresa Ferguson, 214-492-6937
Christine Anderson, 212-583-5182