Industry
Leland C. Pillsbury
Co-Chairman and CEO
The Thayer Group of Companies
Lee Pillsbury is Co-Chairman and CEO of Thayer Lodging Group. Thayer is a privately held real estate operating company managing total assets in excess of $2 billion. Its current investment fund has in excess of $700 million in available investment capacity. Thayer Lodging Group invests on behalf of institutional investors in quality hotel properties, seeking to increase the cash flow and value of the assets through repositioning, renovation and capital investment, rebranding and management improvements. Its nationwide portfolio includes hotels operating under the Ritz Carlton. Doubletree, Marriott, Embassy Suites, Sheraton, Residence Inn, and Fairfield Inn flags.
Mr. Pillsbury graduated from Cornell School of Hotel Administration in 1969, and began his career as a management trainee with then Marriott Hot Shoppes.
He graduated with honors from Northwestern University J.L. Kellogg Graduate School of Management in 1982, and joined Marriott headquarters. Mr. Pillsbury was Marriott's youngest Executive Vice President and Corporate Officer until retiring in 1988 to launch his own business. While with Marriott, he launched venture teams that led Marriott's entry into the time-sharing business, Fairfield Inns economy lodging business, and acquired the Residence Inns company. As Vice President and General Manager of Fairfield Inns and Residence Inns, he supervised 18,000 people and in excess of $1 billion in annual capital investment in lodging products. During his tenure, the number of hotels increased from 125 to over 700.
In 1989, Mr. Pillsbury founded and served as CEO of Grand Heritage Hotels. In this capacity, he also acquired and sold several individual hotels. In 1990, he arranged the sale of the company to its key executives to concentrate exclusively on hotel real estate investment.
In addition to Thayer Lodging Group, Mr. Pillsbury is a founder and partner in TIG Global Internet Marketing Company, EMC Venues, representing conference centers and resorts, and Thayer Insurance Group, providing specialized health, benefits, liability and property insurance to hotels nationwide.
Mr. Pillsbury serves on the University Council at Cornell, the Dean's Advisory Board of J.L. Kellogg School of Management, and is a director and investor in several privately held companies.
Contact Information:
Industry Research & Affairs
cuihe@cornell.edu
Phone: 607-255-0179