Kempinski Hotels has appointed Michael Pracht to the role of chief financial officer and as member of the management board.

As chief financial officer, Pracht will oversee the company’s finance and technical services on a corporate, regional and hotel level.

He will be replacing Colin Lubbe, who decided to step back from his mandate.

Pracht will be the driving force behind securing the company’s return on investment and identifying innovative solutions which will enhance performance in his areas of responsibility to ensure efficient decision-making processes across all Kempinski operations.

Within the area of technical services, Pracht will oversee pre-opening and engineering, ensuring that services provided to properties throughout the product lifecycle generate a sustained return and protect these assets over the long term.

“I feel honoured to join Kempinski Hotels.

“The prestigious luxury hotelier is renowned for its expertise in managing resorts and hotels throughout the world while combining individuality with European refinement,” said Pracht.

“In my new role I am looking forward to reaching out to our stakeholders inside and outside the organisation to ensure efficient workflows and increased ROIs across the network.”

Pracht is a seasoned and highly experienced executive bringing more than 35 years of finance and operations experience within the hospitality industry.

Prior to joining Kempinski, he served as general manager at HMS, a part of Maritim Hotel Group, where he was leading the finance and operations departments while also looking after the development of the company’s international portfolio.