Back in 1998, Paul Sistare found himself at a crossroads. As president of Denver-based Richfield Hospitality, one of the largest management companies in the United States, he felt a shakeout coming in North America, even as the company was making moves to go global. "I had flown down to Latin America several times and was amazed at the complete lack of management companies that were in that marketplace," he recalls. "As president of Richfield, I got tired of competing with everyone [in the U.S.] out there for a 0.5% fee or a 1.5% fee, 90-day contracts cancelable upon will. I hated those types of things." Three years later, as the president and CEO of Choice Atlantica, the management company he formed with partners Gregory Ryan (fellow Cornell University graduate and former chairman of the Brazilian McDonalds subsidiary) and Nicholas Brady (former U.S. Treasury Secretary), Sistare has nine hotels open and 58 more under contract. The company holds the master franchise agreement for Choice Hotels International brands for much of South America.
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