Shamin Hotels Names First Chief Financial Officer

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Shamin Hotels, Virginia's largest hotel management company, has named the first CFO in company history.

Shamin Hotels, Virginia’s largest hotel management company, today named the first Chief Financial Officer in company history. Grayson Owen, who has served Shamin for seven years, assumes the title effective immediately.

Owen has been a member of the Shamin Hotels team since June of 2000, when he was hired as the company’s Controller. He previously worked as an audit and tax supervisor for KPMG, and in a similar position for Hamilton Beach/Proctor-Silex. Owen graduated from the University of Alabama with a Masters of Tax, and The College of William and Mary with a Bachelor of Business Administration. He became a CPA in 1992. In his new position, he directs Shamin’s centralized accounting department, where he is responsible for internal audit implementation, financial statement review, and budget preparation. Additionally, he is involved in the evaluation of new developments and acquisitions.

“We’re very excited to make this announcement,” said Shamin Hotels Chief Operating Officer Neil Amin. “Our executive team is experienced and poised to take the company to the next level.”

Shamin Hotels is one of the fastest growing hospitality firms on the east coast. The company currently has 24 properties in its portfolio, and with a mix of acquisitions and new construction is planning to nearly double in size over the next five years. Between now and the end of the 2006, the company expects to break ground on six new hotels.

About Shamin Hotels

Shamin Hotel Group, based in Richmond, Virginia, is a leading hotel management company with more than 20 lodging properties in the United States. Shamin Hotels is a dynamic, growth-oriented hotel company that owns, operates, and develops commercial business hotels under Hilton, Marriott, Holiday Inn, Choice, and Wingate names. Shamin Hotels is deeply rooted in the hospitality industry and enjoys a number of advantages that give the company a competitive edge. Its senior management team has more than 100 years of combined experiences. The company has long-standing relationships with the industry's most highly regarded brands and has consistently been recipient of awards from its franchisers. For more information, call 804-777-9000 or visit http://www.shaminhotels.com.

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Steve Mullen
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