Host Hotel's CEO Departs To Head Hilton

Christopher J. Nassetta has resigned as president and chief executive of Host Hotels & Resorts to take the same positions with the Hilton Hotels Corp.

The announcement comes just days after Blackstone wrapped up its $20 billion purchase of Los Angeles-based Hilton.

Nassetta had led Bethesda-based Host for 12 years. He'll stay on at Host until the end of November to help his successor, W. Edward Walter, who had been executive vice president and chief financial officer since 2003.

"Ed Walter has been involved in every area of the Company's operations and has been an integral part of each of our major transactions over the last ten years, including our conversion to a REIT in 1998, the restructuring of our balance sheet and, most recently, our $3.5 billion acquisition of hotels from Starwood," Host chairman Richard E. Marriott said in a statement.

By Dan Beyers  |  October 29, 2007; 7:05 AM ET
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