Interstate Hotels & Resorts CEO named chairman of the board

Arlington-based Interstate Hotels & Resorts, which was acquired by private equity firm Kohlberg & Co. LLC, earlier this year, has announced that it has begun to search for a new CEO.

Current CEO, Jim Abrahamson, has been named chairman of the company’s board of directors and will serve as CEO and chairman until a new CEO is named. The firm anticipates filling the position in early 2017.

“Under Jim’s leadership, drive and strategic vision, Interstate has successfully expanded its portfolio and is established as the largest, most diverse platform in the industry,” Ahmed I. Wahla, partner of Kohlberg and Co., said in a statement. “We now look forward to appointing an industry-leading CEO to further propel the company to become the undisputed, market-leading provider of independent hotel management services to current and future owners.“

Abrahamson, who served as Interstate Hotels & Resorts’ CEO for five-and-a-half years, said in a statement that he was honored to be appointed chairman of the board.

“I look forward to my new role supporting the company’s journey ahead and to our board appointing a new CEO to lead Interstate to even greater success,” he said.

Interstate Hotels & Resorts operates hotels, resorts and convention centers. The company and its affiliates manage 430 hotels around the world. It also has agreements to manage 54 hotels currently under development or construction.