VCG Holding Corp. Appoints David Levine to Board of Directors
09 Juillet 2010 - 10:42PM
VCG Holding Corp. (Nasdaq:VCGH)
("VCG" or
"the Company") today announced that David Levine has
joined the Company's Board of Directors. Mr. Levine brings more
than 30 years of experience in the hospitality, leisure, travel and
related technology industries. He succeeds Kenton Sieckman,
who resigned from VCG's Board of Directors on June 30, 2010. Mr.
Levine's term is for a period of 1 year, completing the term of Mr.
Sieckman. Mr. Levine will stand for election at the next annual
meeting. As an independent Board member, Mr. Levine will serve on
VCG's Audit, Compensation, and Governance and Nominating
Committees.
Mr. Levine, 62, served as Chairman and Chief Executive Officer
of ResortQuest International, a former NYSE-listed company that
provided vacation rental, property management, and real estate
services. During his tenure (1998-2002), ResortQuest became the
industry's leading brand name, operating 32 integrated companies in
51 resort locations throughout North America and Hawaii.
Prior to launching ResortQuest, Mr. Levine served as
President and Chief Operating Officer (1994-1998) of Equity Inns,
Inc., a former NYSE-listed REIT that specialized in lodging-related
acquisitions. Mr. Levine grew the Equity Inns portfolio from eight
to over 100 properties throughout the United States. Concurrently,
he was President and Chief Operating Officer of Trust
Management, Inc., which provided pre-opening and management
services for properties owned by Equity Inns and others. From
1985-1994, Mr. Levine founded and served as President of North
American Hospitality, Inc., a hotel company that specialized in
management and consulting services. Prior to that, he held senior
marketing and operations management positions with the
international and domestic divisions of Holiday Inns, Inc.,
Intercontinental Hotels Corporation, and the E.F. MacDonald
Incentive Travel Company.
Mr. Levine has served as Director and Chairman of the Finance
Committee for the Memphis Development Foundation and the Historic
Orpheum Theater. In addition, he served as Regional Director
of the United States Ski and Snowboard Team Foundation, was a
member of the New York Hospitality Council and the President's
Council of Promus Hotels, and was a visiting professor at Michigan
State University School of Business.
Troy Lowrie, Chairman and Chief Executive Officer of VCG,
stated, "We welcome David to the Board of Directors and as a member
of our Audit, Compensation, and Governance and Nominating
Committees. We believe that his exceptional background in the
hospitality and real estate industries, as well as his success in
managing and growing publicly-traded businesses, will serve VCG
shareholders well."
ABOUT VCG HOLDING CORP.
VCG Holding Corp. is an owner, operator, and consolidator of
adult nightclubs throughout the United States. The Company
currently owns 20 adult nightclubs. The nightclubs are located in
Anaheim, Indianapolis, St. Louis, Denver, Colorado Springs, Ft.
Worth, Dallas, Raleigh, Minneapolis, Louisville, Miami, and
Portland, ME.
The VCG Holding Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5105
FORWARD LOOKING STATEMENT
Certain statements in this release are forward-looking
statements within the meaning of the Securities Litigation Reform
Act of 1995. Such statements are based on current expectations,
estimates and projections about the Company's business based, in
part, on assumptions made by management. These statements are not
guarantees of future performance and involve risks and
uncertainties that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed
or forecasted in such forward-looking statements due to numerous
factors identified from time to time in the Company's reports with
the Securities and Exchange Commission, including our Annual Report
on Form 10-K for the year ended December 31, 2009 filed on March
15, 2010 and our Quarterly Report on Form 10-Q for the quarter
ended March 31, 2010 filed on May 14, 2010. All forward-looking
statements attributable to us or any persons acting on our behalf
are expressly qualified in their entirety by these cautionary
statements. All guidance and forward-looking statements in this
press release are made as of the date hereof and we do not
undertake any obligation to update any forecast or forward-looking
statements, except as may be required by law.
CONTACT: VCG Holding Corp.
Troy Lowrie, Chief Executive Officer
(303) 934-2424
tlowrie@vcgh.com
The Equity Group Inc.
Devin Sullivan, Senior Vice President
(212) 836-9608
dsullivan@equityny.com
Gerrard Lobo, Senior Account Executive
(212) 836-9610
globo@equityny.com
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