Luery again steps down as Regent CEO

Tuesday, April 3, 2001 | 11 a.m.

For the second time, Darrell Luery has stepped down as president and chief executive of the Regent Las Vegas.

Luery will remain vice chairman of the bankrupt Summerlin resort, and will remain an "independent consultant to the company." Luery has been replaced by a three-member executive committee consisting of: Lanis O'Steen, chief restructuring officer; John James, chief operating officer; and Fritz Uebler, senior vice president of hotel operations.

Luery returned to the CEO's role at the Regent when the property filed for Chapter 11 bankruptcy protection in November. It was said at the time that he would serve on an interim basis, and in a Monday statement Luery said it was "time for me to move forward, as originally scheduled, with the formation of my consulting company."

Luery was first named as CEO of the Regent in late 1999, replacing Brian McMullan. His efforts during that time centered largely on building the resort's locals business. He moved into the vice chairman's role in September 2000, and was replaced as CEO by Regent International Hotels President Paul Hanley. Hanley quit just two months later, and Luery again took over.

The Regent is actively seeking out potential bidders to acquire the property out of bankruptcy court. It has financing in place that should allow the property to continue operating through at least July while the sale process proceeds.