Each year, Mit Shah, founder/CEO, Noble Investment Group, sits down with a hospitality executive for a conversation about their career during the Bharat Shah Leadership Speaker Series at the Hunter Hotel Investment Conference.
This year, he spoke with Jim Risoleo, CEO, Host Hotels & Resorts, about his career path, which was anything but a straight road. His journey, which began in Pittsburgh, has taken him from working in a grocery store to leading one of the largest real estate investment trusts (REITs) in the world.
Both of his grandfathers emigrated from Italy at young ages, one arriving at Ellis Island at just eight years old, the other at 16. His paternal grandfather worked as a coal miner in a small town in Pennsylvania, while his maternal grandfather became a chef, opening a restaurant in Pittsburgh.
“My grandparents worked incredibly hard to provide for their families, and that work ethic has been instilled in me,” he said. “I’m the first in my family to go to college, and it’s been an incredibly fascinating journey along the way.”
In high school, Risoleo worked at Giant Eagle, a supermarket chain in Pittsburgh. After graduating, Risoleo attended Duquesne University, where he initially pursued an accounting degree. But the path to becoming an accountant didn’t feel quite right for him.
“At one point, I realized I didn’t really want to be an accountant, but I had a solid background in accounting,” he said. “That’s when politics and law came into play.”
While working at Giant Eagle, Risoleo was also deeply interested in politics, and he landed an internship with a local congressman. His love for politics led him to law school at Duquesne University, where he balanced his studies with working at the Treasury Department. However, a twist of fate soon shifted his focus to the world of finance and real estate.
“It’s true that there are no straight lines in the world,” the executive said. “If there’s an opportunity in front of you, take it. You might be scared, but you’ll never know unless you try.”
In the mid-1980s, Risoleo pivoted from law to finance, joining Mellon Bank’s Financial Services Group, where he worked on leasing and syndicated transactions. One of his major clients was Westinghouse Financial Services, which eventually led to a job offer from the company. His role involved working on a variety of projects, including a major real estate workout group during the aftermath of the Savings & Loan crisis.
By 1996, he had joined Host Marriott (now Host Hotels & Resorts) after its series of key moves and partnerships, including one with Blackstone to acquire hotels following the S&L crisis. At Host Marriott, he quickly rose through the ranks, playing a central role in the company’s evolution from a traditional hospitality management firm into the largest publicly traded hotel REIT in the U.S.
Over the years, Risoleo spearheaded the company’s expansion, including its move into the European market. By the mid-2000s, the company had developed a strong portfolio of European properties, working with international partners like GIC and APG.
However, despite his growing success, Risoleo’s professional life wasn’t without personal challenges. He described how a personal transformation in 2010, when he met his future wife, Pam, changed his outlook on life. “From 2010 to 2025, those have been the happiest years of my life,” he said. Pam’s influence, combined with a shift in priorities, led Risoleo to reassess his work-life balance.
In 2012, Risoleo decided to relocate to Arizona, even as he continued to oversee Host’s European platform. It was a decision that cost him a significant pay cut but allowed him to regain happiness and fulfillment. “It wasn’t fair for me to ask Pam to move to Bethesda,” he added. “It was a lot easier for me to move to Arizona, and that’s what I did.”
As Risoleo’s family grew and he found greater personal happiness, his professional life also flourished. In 2016, he received a call from Dick Marriott, the chair of Host Hotels & Resorts, who asked him to return to lead the company as its CEO. Risoleo’s decision to take the role, despite his initial reluctance to leave Arizona, marked the beginning of a new chapter for the company.
“I didn’t know all that was involved in being a CEO of a public company, but I took the job,” he said. “I love this business. If you do what you love every day, it’s not work—it’s fun.”
Today, Risoleo leads Host Hotels & Resorts with a sense of purpose, commitment to his family and a deep understanding of the importance of giving back to the community. Together with Pam, he has supported several philanthropic causes, including raising millions of dollars for the American Heart Association in Phoenix.
Reflecting on his journey, Risoleo shared, “Everyone is special in their own way, and that’s how I try to live my life—focused on the people who matter most and giving back.”
