FRHI Hotels & Resorts

FRHI Hotels & Resorts

September 10, 2014 09:37 ET

FRHI Hotels & Resorts Appoints Martin Kandrac Executive Vice President, Real Estate & Development

TORONTO, ONTARIO--(Marketwired - Sept. 10, 2014) -

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FRHI Hotels & Resorts, the leading operator of Raffles Hotels & Resorts, Fairmont Hotels & Resorts and Swissôtel Hotels & Resorts, has announced the appointment of Martin Kandrac as executive vice president, real estate & development.

Based in Zurich, Kandrac will be responsible for all aspects of FRHI's real estate and development activity worldwide, including regional offices in the Americas, Europe, Asia, and the Middle East. As part of this role, Kandrac will also have oversight of FRHI's residential and design and construction teams.

Kandrac's appointment comes as FRHI merges its development and real estate functions, a shift that supports its ongoing growth plan to invest in strategic hotel real estate ventures. The company has embraced a steady, aggressive pace of expansion, opening new properties in strategic markets worldwide, with a focus on leading economic centers, major gateway cities and sought after resort locales. On track to welcome a number of new hotels in 2014, including the September 2014 opening of Raffles Istanbul, the company is projecting 50% growth over the next five years.

"I'm very pleased to be welcoming Marty to the FRHI team," said William Fatt, chairman & chief executive officer, FRHI. "We're confident that with his extensive international experience in both real estate and portfolio acquisitions that he is the right person to lead our worldwide expansion plans moving forward. There is great growth potential for all three of our brands, through acquisitions, conversions and management agreements, and we continue to focus our development activity on key strategic markets globally."

Kandrac brings to his new role over 17 years of international hospitality real estate experience in the United States, Asia and Europe. He joins FRHI from his most recent position as managing director, real estate in the London office of Mount Kellett Capital Management. Prior to this, Kandrac spent 12 years with Blackstone Real Estate as head of European Hotels. He also held progressive positions with Goldman Sachs and Starwood Hotels & Resorts.

Kandrac is a graduate of Cornell University, School of Hotel Administration and also holds a Masters of Business Administration degree from Harvard Business School.

About FRHI Hotels & Resorts

FRHI Hotels & Resorts (FRHI) is a leading luxury hotel management company that operates more than 110 hotels globally under the Raffles, Fairmont and Swissôtel brands. The company's distinctive portfolio of luxury and upper upscale hotels features celebrated icons, world-class resorts and stylish city center hotels. Some notable hotels include the Raffles Singapore, Swissôtel The Bosphorus, The Fairmont San Francisco and London's The Savoy. Focused on growing its distinctive hotel brands, the company is also developing new hotels in key locations around the world including exciting projects in China, Russia, India, Turkey and Saudi Arabia. The company also manages Raffles, Fairmont and Swissôtel branded luxury private residence clubs, whole-ownership residences and serviced residences properties. For more information or reservations, please visit frhi.com.

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