Pfeffer Resigns From Cendant’s Hotel Division

PARSIPPANY, NJ— Eric Pfeffer, chairman & chief executive officer of Cendant Corp.’s Hotel Division said Sept. 7 he would resign from his post to spend more time with his family in Miami. While the official effective date of Pfeffer’s resignation has not yet been announced, it is expected he will complete his executive duties and depart from Cendant within the next several weeks. In an interview with HOTEL BUSINESS®, Pfeffer called his departure “bittersweet.” He said he is not actively seeking another job at this time and is looking forward to “taking a sabbatical for a while. Maybe I will surface back after a period of time,” he said. Following Pfeffer’s departure and until his successor is named, Pfeffer’s day-to-day responsibilities will be assumed by Steve Holmes, chairman & chief executive officer of Cendant’s Hospitality Division, said a spokesperson for the company. Pfeffer will assist Holmes as an advisor, particularly on international development matters, the company said. As chairman/CEO of the Hotel Division at Cendant, Pfeffer was responsible for the strategic direction of Cendant Corp.’s Hotel Division, with more than 6,500 hotels open on five continents under the Super 8‚, Days Inn‚, Ramada‚, Travelodge‚, Howard Johnson‚, Knights Inn‚, Villager SM, Wingate Inn‚ and AmeriHost Inn‚ brands. Reporting to him were the Hotel Division’s brand presidents and the executives who oversee five key divisional groups: Hotel Operations, Sales & Marketing, International Development, Hotel Information Technology and Human Resources. Pfeffer worked to implement a new culture in the Hotel Division as chairman/CEO called SOAR— sell franchises, open hotels, add value, and retain customers— something he is proud of. “It was not an easy task, to fill the shoes of John Russell and John Snodgrass (both of whom previously held the title). Prior to that, Pfeffer served as managing director of the company’s Global Services division for nearly two years, overseeing international sales and services for Cendant’s hotel and real estate brands. Before that, he served as president & chief operating officer of Howard Johnson International, where he is credited with beginning to turn the brand around. “I worked to get rid of a lot of bad apples in the [Howard Johnson] system,” he said. But Pfeffer said it was time for him to take a break, and that he is looking forward to spending time with his family, particularly his two children. “I was not there for my kids growing up. I want to be there for them now, to mentor them,” Pfeffer said of his two young adult daughters. But the departure is a bittersweet one for Pfeffer, who has served more than 20 years as a hotel and franchise executive and is well regarded in the hospitality industry. “I particularly liked the entrepreneurial spirit of this company [Cendant] and will miss that,” he said. Executives at Cendant said a search is on to find a replacement for Pfeffer. Pfeffer said that he “recommended some internal candidates, but the call will be made by Holmes.” A Cendant spokesperson said the company is committed to finding someone to fill the executive slot “efficiently.”