Michelle Russo, President of Hotel Asset Value Enhancement Named Ernst & Young Entrepreneur Of The Year® 2011 New England Award Semifinalist

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Ms. Russo recognized for demonstrating excellence and extraordinary success in areas such as innovation, financial performance and personal commitment to her businesses and community.

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Michelle Russo, President, Hotel Asset Value Enhancement (hotelAVE)

Hotel Asset Value Enhancement (hotelAVE) today announced that Michelle Russo, President, is an Ernst & Young Entrepreneur Of The Year® 2011 New England Award semifinalist. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in areas such as innovation, financial performance and personal commitment to their businesses and communities. Ms. Russo was selected as a semifinalist from nearly 60 nominations by a panel of independent judges. Award winners will be announced at a special gala event on 15 June 2011 at the Boston Renaissance Waterfront Hotel.

Founded by Ms. Russo in 2003, hotelAVE has grown to become the largest independent hotel real estate asset management firm in the country, with over $2B of hotel real estate under management and advising on an additional $4B of hotel real estate annually. hotelAVE’s clients include many of the world’s largest banks and investment funds. An early innovator in the field of hotel asset management, Ms. Russo is recognized as one of the foremost experts in the business with over 20 years of experience in the hospitality industry. In 2007, Ms. Russo co-founded StepStone Hospitality in response to client demand for third-party management for hotels, resorts and restaurants. She is a Presidential Scholar recipient and graduate of Cornell University’s School of Hotel Administration where she is a frequent guest lecturer.

The Ernst & Young Entrepreneur Of The Year Program celebrates its 25th anniversary this year. The program has expanded to recognize business leaders in more than 140 cities and more than 50 countries throughout the world.

Regional award winners are eligible for consideration for the Entrepreneur Of The Year National Award. Award winners in several national categories, as well as the overall Ernst & Young Entrepreneur Of The Year National Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 12, 2011. The awards are the culminating event of the Ernst & Young Strategic Growth Forum®, the nation’s most prestigious gathering of high-growth, market-leading companies, which will be held November 9–13, 2011.

Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are pleased to have the Ewing Marion Kauffman Foundation as a national sponsor. In New England sponsors include Boston Magazine, J. Robert Scott, Marsh, Nixon Peabody LLP, RR Donnelley, and Regan Communications Group.

About Hotel Asset Value Enhancement (hotelAVE)
Founded in 2003 by Michelle Russo, CHA, MAI, hotelAVE has grown to become one of the premier hotel asset management companies in the nation today. hotelAVE is dedicated to protecting ownership's investments and pursuing every opportunity to maximize value and achieve above-market returns. With over $2 billion in assets under management and advising on an additional $4B of hotel real estate annually, hotelAVE has a successful track record in asset management, property management and institutional ownership.

About Ernst & Young Entrepreneur Of The Year®
Ernst & Young Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.

About the Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US. For more information about our organization, please visit http://www.ey.com.

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