"Steve Porter served as a director of IHG with great distinction. He was an outstanding executive and a passionate supporter of the company," says David Webster, the hotel company's chairman in a statement. "Steve commanded the fullest respect and affection of everyone in our industry. We are deeply saddened by his death and our sympathies are with his family."

Last month, the company announced that Porter had relinquished his responsibilities due to medical reasons. At that time, Richard Solomons, IHG finance director, took over Porter's duties on an interim basis. In a conference call held today, a company spokesperson said that IHG would look both inside and outside the company for a replacement. In compliance with the family's wishes, details about Porter's illness were not released. The spokesperson further stated that the company intends to proceed with its Americas Investors & Leadership Conference scheduled for Sept. 23 through Sept. 26 in Los Angeles.

A 32-year veteran of the hospitality industry, Porter joined IHG in 2001 as COO for the Americas. A year later, he assumed the role of president. During his tenure, the company acquired its sixth brand, Candlewood Suites, and launched a seventh, Hotel Indigo, a boutique chain.

Prior to coming aboard IHG, Porter held senior executive positions at Hilton Hotels Corp., which he joined in 1990. He began his career in 1976 with Stouffer Hotels.In 2006, Porter was named chairman of the Discover America Partnership, a group of business leaders that aim to strengthen America's image around the globe. He was also named vice chairman of the Travel Business Roundtable, whose mission it is to educate elected officials about the economic and social contributions of the travel and tourism industry. On the charity front, he was active with UNICEF, the American Cancer Society, American Heart Association, the United Way and the Center for Elimination of Violence in the Family. He is survived by his wife and two sons.