ARLINGTON HEIGHTS, IL— Having helped “take the company where it is today,” Arlington Hospitality’s President and CEO Michael Holtz has resigned after 17 years. His announcement follows the recent election of the company’s new board of directors, which includes—among others—Steven Belmonte, former CEO of Ramada. While a spokesperson for the company said Holtz’s resignation came as a “surprise,” there appears to be no rush to fill the position. Holtz will remain with the company for the next six months and will help the board find, and train, his replacement, said a spokesperson. “I’ve been with the company for 17 years,” said Holtz, noting he helped launch Arlington Hospitality and grow its portfolio to the 77 properties it has today. “It was just time to move on,” he said. Though he has not finalized any future career plans, when asked what his next step would most likely be, Holtz said, “I’d like to do a couple of hotel deals myself. Maybe own and operate a couple properties.” He referenced the strength of the AmeriHost brand, of which Arlington owns or manages 65 hotels, and alluded to his continued involvement with the development of that flag. Despite the difficult economy, Arlington’s AmeriHost properties saw RevPAR rise 5% year to date, he added. Holtz’s exit from the company falls on the heels of a newly elected board of directors, which in addition to Holtz includes: Salomon Dayan, Thomas Romano, Gerald LaFlamme, Kenneth Fell, Steven Belmonte, and Russell Cerqua. Both Holtz and Cerqua chose not to accept their positions with the board. The first order of business for the newly appointed board members is to assemble a search committee to recruit and replace their president and CEO. Holtz noted he expects the position to be filled within the next three months, and that the company is looking “at few people within the company, as well as people outside the company.” Regardless of the new appointee, a spokesperson for Arlington said he expects the board to “continue with the company’s existing strategy and business plan.” Arlington Hospitality owns and manages 77 mid-priced hotels in 17 states, primarily under the AmeriHost Inns & Suites brand where it has an additional four properties currently under development.
Michael Holtz