updated 6/3/2011 4:18:26 PM ET 2011-06-03T20:18:26

WATERFORD, Conn., June 3, 2011 (GLOBE NEWSWIRE) -- Waterford Hotel Group, one of the nation's top hotel management companies, announces the promotion of Gregory Smith to Vice President, Business Development.

Smith, an industry veteran with more than 30 years of experience in the hospitality industry, previously held the position of Vice President, Finance and CFO with Waterford Hotel Group. In his new role, Smith will direct and coordinate company growth through management contracts, joint ventures, acquisitions, and other new developments. He will be involved in all aspects of hotel acquisitions and the development of relationships with financial and institutional fund partners.

"Greg brings a strong background of successful financial and owner relation skills to Waterford," said Rob Winchester, President and COO of Waterford Hotel Group. "He is the ideal candidate to lead our growth strategy."

"I look forward to capitalizing on Waterford's strong reputation as a leader in the hospitality industry to grow the company's portfolio," said Greg Smith.

Since joining the organization in 2009, Smith served as a key financial link between Waterford Hotel Group, property ownership, and hotel managers. His responsibilities included the financial, accounting, and information technology functions of Waterford Hotel Group and each of the properties that it manages. Prior to joining Waterford Hotel Group, Smith served as Chief Financial Officer/Chief Administration Officer for Boykin Management Company. Previously, he held numerous positions with Interstate Hotels & Resorts, including Vice President of International Finance and Regional Director of Finance, Vice President and Corporate Controller, and Hotel Controller.

About Waterford Hotel Group

Waterford Hotel Group, Inc. is an affiliate of Waterford Group, LLC, a group of companies and partnerships specializing in the development, ownership and management of hotel, convention and gaming projects. Since its inception in 1984, Waterford Hotel Group has risen to the top amongst hotel operators through the management of more than 60 hotels nationwide. The company is an approved operator for the leading hotel brands, such as Marriott International, Starwood Hotel and Resorts, Hilton Worldwide, Choice Hotel International, and InterContinental Hotels Group. For further information, contact Waterford Hotel Group, Inc., 914 Hartford Turnpike, P.O. Box 715, Waterford, CT 06385, or visit the company's website at www.waterfordhotelgroup.com .

Contact: Lisa Beers, 860.701.9621, lbeers@waterfordgroup.net

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