AIG Global Real Estate Executive Named CEO Of ORCO Property Group's Hospitality Business : Keith Lindsay to Lead ORCO's Hospitality Investment Dev
NEW YORK & PRAGUE, Czech Republic (Business Wire EON) June 3, 2008 -- ORCO is a leading investor, developer and asset manager in the Central European real estate and hospitality market. It manages $2.5 billion in assets. The Hospitality Group owns and operates luxury boutique hotels and luxury serviced apartments in the major capitals of Central Europe.
At ORCO, Mr. Lindsay will oversee operations and asset management of all hotel properties and new investments.
Said Jean-Francois Ott, President of ORCO Property Group, "The Central European hospitality market is growing quickly, and the pace will accelerate even more as a number of countries become qualified to join the Eurozone. ORCO is committed to making the most of this growth ? and helping to facilitate it. Accordingly, we're delighted to bring on a leader with Keith Lindsay's experience and entrepreneurial spirit. His track record creating successful hospitality ventures throughout the world, including Central and Eastern Europe, and his on-the-ground experience running major hospitality companies in the region will benefit our operations, investors and clients."
ORCO hospitality properties include the Pachtuv Palace in Prague, the Hotel Le Regina in Warsaw, the Andrassy Hotel in Budapest and the recently opened Pokrovka Suite Hotel in Moscow. The portfolio also includes nine hotels and resorts in Croatia, such as the recently renovated and reopened Amfora Pool and Harbour in Hvar.
Said Mr. Lindsay, "I'm very excited to join an organization that has deep roots in and is well-positioned to leverage the growth of such a dynamic part of the world. ORCO, and the hospitality industry overall, have tremendous opportunities as the Central European markets expand and complete the integration process in the European Union."
Prior to AIG Global Real Estate, Mr. Lindsay was head of Russia for ACCOR, the world's leading hotel group, and, before that, COO of Envergure Louvre Hotels, the second-largest European hotel chain. He has also served as vice president for Europe investments for Intercontinental Hotel Group plc and has held a number of positions at the Walt Disney Company. He holds an MBA from IESE in Barcelona.
For more information or a headshot of Mr. Lindsay, please contact Adria Greenberg of Sommerfield Communications at 212-255-8386 or adria@sommerfield.com.
About ORCO Property Group
ORCO Property Group is a leading investor, developer and asset manager in the Central European real estate and hospitality market, currently managing assets of approximately EUR 2.5 billion. Operating in Central Europe since 1991, ORCO Property Group is a public company, based in Luxembourg, and listed on the Euronext, Prague, Warsaw and Budapest Stock Exchanges. ORCO Property Group operates in a number of countries including, mainly, the Czech Republic, Hungary, Poland, Russia, Croatia, Germany and Slovakia. ORCO Property Group is continually analyzing investment into new territories.
ORCO Property Group is also sponsor of the Endurance Real Estate Fund, a Luxembourg?regulated closed?end mutual fund (fonds commun de placement - fonds d'investissement spécialisé) organized as an umbrella fund with six sub-funds focused on real estate acquisitions on office and retail, residential, industrial & logistic, and Health Care markets.
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