Chesapeake Hospitality Hires Recognized Hospitality And Real Estate Executive Louis Schaab As Chief Financial Officer

GREENBELT, Md., Oct. 8, 2013 /PRNewswire/ -- Chesapeake Hospitality, one of the country's fastest growing third-party hotel management companies, announced today that it has added Louis Schaab as Chief Financial Officer to its leadership team. Kim Sims, president of Chesapeake Hospitality, made the announcement.

With more than 20 years of finance and accounting experience, Schaab has deep and recognized experience within the hospitality industry, most notably serving as senior vice president of finance at MeriStar Hotels and Resorts in Washington, D.C., where he built and managed a team of 15 finance and accounting professionals. Schaab also served as the principal/operating partner of portfolio management for Washington-based Allied Capital Corporation, successfully managing a portfolio of 40 hotel and real estate assets. He most recently served as senior director of finance for insurance and financial services at National Rural Electric Cooperative Association.

"Louis is a seasoned and effective CFO that we are thrilled to have join our leadership team as Chesapeake Hospitality continues to grow and build its portfolio," said Sims. "Louis's diverse range of abilities will be a critical asset to sustaining a high level of performance at our management properties and will add value in the implementation of strategic initiatives and operational execution."

Schaab is a CPA licensed in Virginia and graduated with honors from James Madison University with a bachelor's in accounting. He has also held Board of Directors seats at seven Allied Capital portfolio companies, and is a member of the Board of Advisors for Therapeutic Recreation and Riding Center in Glenwood, MD.

Headquartered in Greenbelt, Md., just outside of Washington, D.C., Chesapeake Hospitality is a mid-sized, third-party hotel management company with a proven track record in both full- and select-service hotels.  Ranked in the top 50 largest independent operators, the company manages properties under the Hilton, Starwood and InterContinental Hotel Group brand families. For additional information, visit the company's website: www.chesapeakehospitality.com.

SOURCE Chesapeake Hospitality