HEI CEO Gary Mendell Highlights 2013 Growth Expectations

NORWALK, Conn., June 20, 2012 /PRNewswire/ -- HEI Hotels & Resorts CEO Gary Mendell highlighted recent analysts' reports predicting continued recovery of the hospitality sector, observing that a rebound will continue to benefit hotel workers across the country. Commenting on the latest PwC US Lodging Forecast for June, Mendell noted:

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"After annual decreases in revenue per available room of almost 17 percent in recent years, expectations of continued growth of five or six percent into next year are welcome news for employees in hotels everywhere – particularly those who depend on income from increased visitor traffic. The last several years have been very difficult for our industry, but business and leisure travel are on the uptick. We still face significant threats to economic recovery, but this news is very encouraging."

HEI recently announced that its success in growing hotel occupancy rates throughout the economic recession led to an almost 18 percent increased earning potential for its employees over the past four years, according to year-end data for 2011. Since 2007 the company has invested in the construction of three new hotels in Philadelphia, Minneapolis and Hollywood that created 757 local jobs, and purchased two troubled hotels that preserved another 228 jobs.

About HEI
HEI Hotels & Resorts, headquartered in Norwalk, Connecticut with 42 properties in 16 states, creates socially responsible investment and employment opportunities through real estate portfolios of hotels and resorts throughout the United States under such well-known brand names as Marriott, Sheraton, Westin, Le Meridien, Embassy Suites, and Hilton. HEI takes a holistic approach to creating value for its investors and employees by setting the highest standards across all aspects of hotel management and operation and focusing on the central principles of excellence and continuous improvement. HEI prides itself on some of the highest employee satisfaction scores in the hospitality industry, fuels local economic prosperity by investing in communities and is committed to environmental stewardship and sustainability. For more information about HEI, visit the company's website, www.heihotels.com.

SOURCE HEI Hotels & Resorts

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