Interstate Hotels & Resorts have revealed that Chief Financial Officer Bill Richardson will be retiring from the company with Bruce Riggins set to fill the vacant position. “Bill has done a marvelous job for Interstate and its predecessor company,” said Thomas F. Hewitt, chief executive officer. “Fortunately, Bill has agreed to remain in a consulting capacity, where we still will be able to benefit from his expertise, contacts and experience as we continue to implement our growth strategies. During his tenure here the past two years, he played a key role in strengthening our balance sheet and in helping us implement our strategy of selectively owning hotel real estate as a new growth avenue.
“Bruce Riggins is well known to the company, having worked seven years for Interstate and its predecessor companies,” he noted. “Prior to leaving the company in 2005, he was senior vice president and treasurer. Because of his knowledge of the company and his industry experience, we expect Bruce to have minimal transition time in his new role.”
Riggins currently is chief financial officer of Innkeepers USA Trust.
Prior to joining Interstate as senior vice president and treasurer, he was vice president of strategic planning and analysis for MeriStar Hospitality Corporation and senior director of finance for both MeriStar and Interstate, when the two companies shared a number of senior-level executives in a paper-clipped REIT/C-Corp structure.
A certified public accountant, Riggins began his career with the accounting firm of Deloitte & Touche, LLP. He is a graduate of Virginia Tech with a bachelor’s degree in accounting.