TravelCenters of America Inc. has appointed Jonathan Pertchik as CEO and Managing Director, effective immediately.
Pertchik succeeds Andrew Rebholz, who will continue to advise the company through June 30, 2020.
“Jon is a seasoned executive who has led multiple businesses in different industries through various stages of transformation and growth over the past 20 years,” said Adam Portnoy, Chair of the TA Board and President and CEO of The RMR Group. “The TA Board is confident that his proven track record and engaged management style will advance TA and lead to improved cash flows and enhanced performance.”
Previously, Pertchik served as an executive for companies owned or controlled by private equity groups, including Starwood Capital Group, TPG, Carl Icahn, Richard LeFrak and Perry Capital.
In his most recent role, Pertchik served as CEO of Intown Suites, the largest wholly-owned, extended stay hotel chain in the U.S., where he doubled EBITDA through disciplined cost control and transformative growth initiatives. Prior to this, Pertchik was CEO of ST Residential, a joint venture with the FDIC, which managed the work-out of a $5 billion portfolio of loans and real estate from Corus Bank.
“I am looking forward to applying established transformative practices from my prior turnaround experience to increase cash flows and margins and create a more efficient organization.” said Pertchik. “TA is an impressive company with a long history of successfully serving both professional drivers and highway motorists, and I am excited to build upon this great company’s unique position in the marketplace. On behalf of the TA Board, we thank Andy for his over 22 years of dedication to TA. Over a long and distinguished career at TA, Andy has made significant contributions to the Company’s success, and we wish him the very best as he prepares for his retirement.”
Pertchik holds a B.A. from Rutgers University, a J.D. from the District of Columbia School of Law and an L.L.M. in International Finance Law from the Georgetown University Law Center.
Korn Ferry, a leading global executive search firm, assisted TA in the recruitment process.
TA’s nationwide business includes travel centers located in 43 U.S. states and in Canada and standalone restaurants in 13 states. TA’s travel centers operate under the “TravelCenters of America,” “TA,” “TA Express,” “Petro Stopping Centers” and “Petro” brand names and offer diesel and gasoline fueling, restaurants, truck repair services, travel/convenience stores and other services designed to provide attractive and efficient travel experiences to professional drivers and other motorists. TA’s standalone restaurants operate principally under the “Quaker Steak & Lube” brand name.
