MIAMI—Tim Walker has resigned his positions as president and CEO of Island Hospitality Management, one of the nation's largest hotel management companies. Walker could not immediately be reached for comment, but the company reports he left to pursue other business opportunities.

“Tim has been with the company for 18 years, starting as a general manager and rising to the head of the company,” says Jeffrey H. Fisher, principal of Island.  “He has accomplished everything he wanted to do at Island Hospitality at the highest level and we wish him all the best and great success in his future endeavor. Fortunately, our senior management team already in place allows us to continue in a business-as-usual-mode.”

Island operates more than 80 hotels under six different brands, primarily premium select-service hotels, upscale, extended-stay properties, and upscale hotels, in 22 states and the District of Columbia. Three members of the company's long-time senior management team will lead the company moving forward.

Gregg Forde, senior vice president of operations who has been with the company since 2003, will continue to oversee the day-to-day supervision of the company's managed properties. Roger Pollak, senior vice president of accounting who joined the company in 1995, will direct the company's corporate office functions.    

Jeff Waldt, senior vice president of sales and marketing and a 10-year veteran of the company, will be responsible for all sales and marketing efforts. Waldt will be responsible for the company's new business development.