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Roy E. Winegardner was born November 15, 1920. He began his career in 1946 as a mechanical contractor in his hometown of Springfield, Missouri after returning from service in the Merchant Marines during World War II. He eventually expanded his operation into an 11-state area.
He decided to enter the hospitality industry when, in 1957, his private plane was grounded by bad weather in Huntsville, Alabama and he recognized the lack of nearby motel rooms.
Mr. Winegardner returned to Huntsville a week later, bought land and built an independent, 75-room motel called the Towne House. "There was, at the same time, a 100-room Holiday Inn hotel operating just down the road. Even though Towne House did a good business, the Holiday Inn hotel did even better," Winegardner said. That fact prompted him to go to Lexington, Kentucky and build his first Holiday Inn property, leading him full-time into the hotel business.
In 1958, Winegardner and John Q. Hammons joined forces and formed Winegardner & Hammons, Inc. a hotel company which, over the past forty years, has been involved in the development, ownership and/or operation of more than 100 hotels.
In 1969, Mr. Winegardner & Mr. Hammons merged 23 of their hotels with Holiday Inns Inc. in Memphis, Tennessee. This resulted in their becoming major shareholders of the parent company. Holiday Inns, Inc. stock was $42.00 per share at the time of the merger.
However, by 1974, the stock had dropped to 4 1/8. At this point Mr. Winegardner was asked to come to Memphis by Kemmons Wilson, the founder of Holiday Inns, Inc. and served as President and later Chairman.
Mr. Winegardner was responsible for placing a new management team which improved the development and operation of Holiday Inns, Inc. By 1985, Holiday Inns, Inc. stock had reached $65.00 per share.
Under his leadership, the company developed Embassy Suites, and the Hampton Inn brands, acquired Harrah's, the Northern Nevada hotel/casino company, and the River Boat Casino, which was contiguous to the Las Vegas Holiday Inn-Center Strip. With the opening of the Harrah's Marina hotel/casino in Atlantic City in November 1980, Holiday Inns, Inc. became the only company with holdings in all four major gaming markets.
In 1984, Mr. Winegardner left Holiday Inns, Inc. to the very capable leadership of Michael Rose and turned his attention to his two private business interests — hotels and the financial markets.
He continues to enjoy working each day. He divides his time between his home and office in Memphis and his home in West Palm Beach, Florida. When not working, he is hunting, fishing or playing golf.
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