AIG Global Real Estate
Executive Named CEO Of ORCO Property Group’s
Hospitality Business
Keith Lindsay to Lead ORCO’s
Hospitality Investment Development and Asset Management Business, Which
Focuses on Central Europe
NEW YORK & PRAGUE, Czech Republic (Business Wire EON) June 3, 2008 --
Keith Lindsay, 45, has joined ORCO Property Group’s
Hospitality Group as CEO. Mr. Lindsay was most recently global head
of hospitality and leisure at AIG Global Real Estate, which is a
joint venture partner in some of ORCO’s
hospitality businesses.
ORCO is a leading investor, developer and asset manager in the
Central European real estate and hospitality market. It manages $2.5
billion in assets. The Hospitality Group owns and operates luxury
boutique hotels and luxury serviced apartments in the major capitals of
Central Europe.
At ORCO, Mr. Lindsay will oversee operations and asset management of all
hotel properties and new investments.
Said Jean-Francois Ott, President of ORCO Property Group, “The
Central European hospitality market is growing quickly, and the pace
will accelerate even more as a number of countries become qualified to
join the Eurozone. ORCO is committed to making the most of this growth –
and helping to facilitate it. Accordingly, we’re
delighted to bring on a leader with Keith Lindsay’s
experience and entrepreneurial spirit. His track record creating
successful hospitality ventures throughout the world, including Central
and Eastern Europe, and his on-the-ground experience running major
hospitality companies in the region will benefit our operations,
investors and clients.”
ORCO hospitality properties include the Pachtuv Palace in Prague, the
Hotel Le Regina in Warsaw, the Andrassy Hotel in Budapest and the
recently opened Pokrovka Suite Hotel in Moscow. The portfolio also
includes nine hotels and resorts in Croatia, such as the recently
renovated and reopened Amfora Pool and Harbour in Hvar.
Said Mr. Lindsay, “I’m
very excited to join an organization that has deep roots in and is
well-positioned to leverage the growth of such a dynamic part of the
world. ORCO, and the hospitality industry overall, have tremendous
opportunities as the Central European markets expand and complete the
integration process in the European Union.”
Prior to AIG Global Real Estate, Mr. Lindsay was head of Russia for
ACCOR, the world’s leading hotel group, and,
before that, COO of Envergure Louvre Hotels, the second-largest European
hotel chain. He has also served as vice president for Europe investments
for Intercontinental Hotel Group plc and has held a number of positions
at the Walt Disney Company. He holds an MBA from IESE in Barcelona.
For more information or a headshot of Mr. Lindsay, please contact
Adria Greenberg of Sommerfield Communications at 212-255-8386 or adria@sommerfield.com.
About ORCO Property Group
ORCO Property Group is a leading investor, developer and asset
manager in the Central European real estate and hospitality market,
currently managing assets of approximately EUR 2.5 billion. Operating in
Central Europe since 1991, ORCO Property Group is a public company,
based in Luxembourg, and listed on the Euronext, Prague, Warsaw and
Budapest Stock Exchanges. ORCO Property Group operates in a number of
countries including, mainly, the Czech Republic, Hungary, Poland,
Russia, Croatia, Germany and Slovakia. ORCO Property Group is
continually analyzing investment into new territories.
ORCO Property Group is also sponsor of the Endurance Real Estate Fund,
a Luxembourg–regulated closed–end
mutual fund (fonds commun de placement - fonds d'investissement spécialisé)
organized as an umbrella fund with six sub-funds focused on real estate
acquisitions on office and retail, residential, industrial & logistic,
and Health Care markets.
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