Press Release - September 22, 2011
InterMountain Management LLC Acquires Pillar Hotels and ResortsDallas, TX (September 22, 2011) In a joint statement issued today, InterMountain Management LLC (InterMountain) and Pillar Hotels and Resorts (Pillar) announced that they have entered into an agreement to merge the two organizations into common ownership.
The combined company will be one of the largest, independent, third party management firms worldwide, and will encompass 308 hotels with more than 30,000 rooms under management. InterMountain also has 16 hotel development projects underway in various stages. Combined, InterMountain and Pillar will employ more than 9,000 associates across the U.S.
Dewey Weaver Jr., owner and founder of InterMountain, stated, "The partnership between these two world-class companies will only make them both stronger and more formidable as we look to continue our aggressive growth in the hotel management and development space."
Chris Russell, chief executive officer of Pillar, added, "While we plan to continue operating Pillar as a separate company out of Irving, TX, we look forward to creating synergies by building on the strengths of both organizations."
About InterMountain Management LLC Founded in 1982 by Dewey Weaver Jr., InterMountain Management develops, owns and operates premium brand hotel properties located in 23 states nationwide. Based in Monroe, LA, InterMountain currently owns and/or manages 73 hotels, including more than 7,400 rooms across the country. www.intermtn.biz
About Pillar Hotels and Resorts Established in 2004, Pillar Hotels and Resorts offers on-site management services for an expansive portfolio of well-respected brands recognized the worldwide. Formerly owned by Archon Group, Pillar directly manages 233 hotels with nearly 23,900 rooms across 37 states. Based in Irving, Texas, the company employs more than 7,000 associates.
For more information about Pillar Hotels & Resorts, please visit the company's Web site: www.pillarhotels.com or call 972.830.3100