March 2014: Mark Satterfield, the Chief Operating Officer of Marriott International’s Middle East & Africa Continent organization, will be relocating to the Protea Hospitality Group’s head office in Cape Town, South Africa, to act as business leader overseeing the integration of the two companies once the anticipated sale of the Protea Hotel Group (PHG) is concluded.
Alex Kyriakidis, President & Managing Director for the Marriott International Middle East & Africa Continent, to whom Satterfield will continue to report, said that Satterfield is the right choice to lead the transition in South Africa.
”Mark has vast experience both at hotel and group level; he has worked across the globe and I have no doubt that this expertise across financial and operational disciplines is exactly what we need going forward.
“Mark and a core team of executives will be joining the Protea Hospitality Group directors in South Africa to assist in growing the company and the brands, as well as managing the integration of all systems,” said Kyriakidis.
A native of the United States, Satterfield is a graduate of the Cornell University School of Hotel Management and served as an executive board member of the British Hospitality Association.
Upon completion of the anticipated sale, current PHG Chief Executive Officer Arthur Gillis will move into the role of Non-Executive Chairman, Africa Development, Marriott International, and his core focus will be exploring and realising new development opportunities for the respective Marriott International brands in Africa.
The remainder of the Protea Hospitality Group’s directors will retain their current roles and portfolios.
The transaction remains subject to receipt of certain third party and governmental consents and satisfaction of other customary conditions for transactions of this kind.
Marriott International and the Protea Hospitality Group expect to close the transaction on April 1, 2014.
Marriott and Protea announced on November 7, 2013 their intent to enter into this transaction.