HEI officials say that Freedman will oversee finance and accounting functions for the company and will play an active role in hotel investor relations for HEI and its HEI Hospitality Fund. They add that Freedman also will play a major role in the financing of appropriate levels of equity and debt for the fund's acquisition program and will be admitted as a partner in all existing and future HEI investments.
"Freedman's arrival comes during a period of rapid growth for HEI and gives us tremendous expertise and bench strength to assist us in the intricate financing aspects of our acquisition program," says HEI CEO Gary Mendell. "His background in accounting and finance will greatly facilitate our ability to efficiently implement our business plan." Freedman adds that he and Mendell are focused on strengthening the finance and accounting functions throughout the organization.
HEI Hospitality owns and/or operates 25 hotels throughout the US under Marriott, Sheraton, Westin and Hilton flags. Merritt Hospitality, a hotel management company, is a wholly owned subsidiary of HEI Hospitality.
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