Choice Hotels Names Former Promus CEO Ray Schultz to Board

A 30-year veteran in the lodging industry, Schultz most recently served as chairman and chief executive officer of Promus Hotel Corporation in Memphis until his retirement in January 1999.

"Choice Hotels' board of directors will be immeasurably strengthened by the addition of Ray Schultz," said Stewart Bainum Jr., board chairman. "His knowledge of franchising and the issues that face our industry will be invaluable."

"Ray's stature in the industry as a technological innovator, a respected franchisor and a champion for guest satisfaction will enhance our efforts to build our system and brands globally," said Charles A. Ledsinger, Jr., president and chief executive officer. "I am looking forward to renewing the working relationship we forged in our days together at Holiday Inn and Promus."

Schultz began his lodging career at Holiday Inn as vice president, information systems, after working with the hospitality company as an IBM consultant on the creation of the Holidex reservations system, the industry's first computerized reservations system. He led the team that created the Hampton Inn brand, serving as brand president. During his tenure with that brand, he introduced the industry's first unconditional 100 percent satisfaction guarantee.

He became president and chief executive officer of the hotel division of The Promus Companies, Inc. (Holiday Inn's successor company) in 1993, and in 1995 was named president and chief executive officer of Promus Hotel Corporation when it was spun off from The Promus Companies. He became chairman and chief executive officer of the company after its December 1997 merger with Doubletree Corporation.

A graduate of Penn State University, Schultz served as a fighter pilot and captain in the United States Air Force before beginning his business career with IBM. During his lodging career, he received many honors, including the Economy Lodging Council Person of the Year in 1991 from the American Hotel & Motel Association and the Hospitality Executive of the Year in 1994 from the Penn State Hotel and Restaurant Society. In 1997, he received Penn State's highest honor, the Distinguished Alumnus award.

Schultz is an active community leader in Memphis and serves on the board of TBC Corporation, Equity Inns, Balanced Care Corporation, the Memphis Arts Council, WKNO (public television and radio) and the Memphis Inter-Faith Association. He also is a trustee of the Dixon Gallery and Gardens and the Chickasaw Council of the Boy Scouts.

Choice Hotels International is the second largest hotel franchisor in the world, with almost 5,000 hotels open and under development in 36 countries. Choice's brands include Comfort, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn and MainStay Suites.

Comfort, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn and MainStay Suites are registered trademarks and service marks of Choice Hotels International, Inc.