History | Heritage | Milton Fine

About FFC Capital Corporation

FFC Capital Corporation was founded in 1998 by Milton Fine, former Chairman and co-founder of Interstate Hotels Corporation (IHC). From its founding in 1960, Milton built IHC into the largest independent hotel management company in the country with 222 hotels and 45,413 hotel rooms under management throughout the United States, Canada, US Caribbean and Russia. Of the 222 hotels under management, IHC owned or had controlling ownership interests in over 41 hotels. In 1998, Milton sold IHC to Wyndham Hotels and Resorts (formerly Patriot American Hospitality) for $2.1 billion. Following the sale of IHC, Milton formed FFC Capital with the Fine family and a select group of IHC senior executives for the purpose of investment management and to further Miltonís life long passion of the acquisition and development of real estate.

Late 1980's / Early 1990's

  • Aggressively obtained management contracts on distressed hotels
  • Began opportunistic acquisitions

Mid to Late 1990's

  • Initial public offering of Interstate Hotels Corporation (IHC) in June 1996
  • At peak valuation, sold IHC to Wyndham Hotels and Resorts (formerly Patriot American Hospitality) in 1998

1998 and Beyond

  • Formed FFC Capital with the Fine family and a select group of IHC senior executives to pursue real estate acquisition and development opportunities

Legacy of Excellence

FFC Capitalís role as an investor and owner of real estate investments across the country began in 1998, but the corporationís heritage as a real estate investor and hospitality industry leader goes back much further. FFC Capitalís pedigree comes from Chairman, Milton Fine, a self-made entrepreneur that has earned a reputation as one of the outstanding leaders in the lodging industry. Beginning in 1960 with one motel in Erie, PA, Milton co-founded Interstate Hotels Corporation (IHC) and built IHC into the largest independent hotel management company in the United States.

Under Milton's leadership, IHC was behind some of the world's most prestigious hotels and resorts, including the New York Palace, the Hay Adams in Washington, DC, the Sawgrass Resort in Ponte Vedra Beach, FL, and the Grand Hotel in Moscow, Russia. In 1998, Milton sold IHC to Wyndham Hotels and Resorts (formerly Patriot American Hospitality) and he formed FFC Capital with the Fine family and a select group of IHC senior executives. In a short period of time with the continued focus of growth, value creation, and performance returns, FFC Capital has built an exceptional real estate portfolio of unique properties diversified by location, brand and industry segment.

A Position of Strength

Over the last four decades, Milton Fine has become a proven lodging industry leader and his accomplishments include:

  • Co-founded and actively managed IHC for over thirty years with IHC becoming widely recognized as the top hotel manager in the hospitality industry
  • Grew IHC to become the largest independent hotel management company in the world managing over 222 hotels representing over 25 different brands
  • Diversified IHC with the corporation functioning as developer, acquirer and operator of hotels
  • Led IHC with consistent growth and profitability throughout every cycle in the hospitality industry
  • Took IHC public in June 1996
  • Sold IHC to Wyndham Hotels and Resorts for $2.1 billion in June 1998