Interstate Hotels & Resorts' Momentum Results In 70 Hotels Signed In 2016 To Date
ARLINGTON, Va., Sept. 22, 2016 /PRNewswire/ -- With a wealth of brand experience and the best talent in the industry – from the hotel level to corporate operations teams – Interstate Hotels & Resorts consistently ranks as the top choice for hotel and resort management. The Company's momentum in 2016, with 70 new hotels under management or signed pipeline, aggregating to 14,000 rooms in the U.S., U.K., Germany and the Netherlands, showcases its ability to operate, reposition and open any hotel or resort, no matter asset class or brand, in any market worldwide. The newly added hotels join Interstate's 431 hotels with over 77,000 rooms currently under management worldwide.
In addition to top quality brands, Interstate is sought out to manage world-class, luxury and independent resorts and urban hotels. Year-to-date, Interstate has executed management agreements with a number of high profile independent properties including the Vintage Estate, which houses the Villagio Inn & Spa and the Vintage Inn in Yountville, Calif., located in the Napa Valley region; Las Alcobas, a Luxury Collection Hotel, and the first new luxury hotel in Napa Valley in five years; The Marine Hotel, standing next to the 18th hotel of the Royal Troon golf course in Scotland; and the Hotel Glow in the Netherlands. Currently, the Company operates 45 independent hotels overall.
"Our owners are confident in Interstate's ability to drive top line revenue and deliver strong financial performance through Interstate's efficient management systems," said Jim Abrahamson, chief executive officer of Interstate Hotels & Resorts. "Through our worldwide leadership talent, we employ our knowledge, vast resources and strong relationships with all major international brands to provide dedicated, localized service and exceptional results to hotel owners and developers."
A preferred operator of top quality franchised lodging brands including Marriott, Hilton, IHG, Hyatt and Starwood, Interstate continues to lead the hotel sector with an incomparable level of global diversity, managing a standard of hotels unattained by other independent management companies. Owners of select- and full-service, and luxury hotels and resorts benefit from Interstate's combination of agility and the personalized attention of a smaller enterprise with the economies of scale only an established leader can provide, delivering outstanding results and returns to owners.
"It is exciting to see Interstate's continued growth in all asset classes, including the luxury segment," said Leslie Ng, Interstate's chief investment officer. "Our bench strength translates into valuable knowledge that is applied to any brand worldwide. Our current pipeline is robust, encompassing over 50 hotels, including 23 signed in 2016 that will open over the next one to two years."
Spanning North America, the UK, Europe, and Russia/CIS, Interstate is the leading U.S.-based global hotel management company. Including an owner-aligned organizational structure; experienced corporate support; and expansive industry and global knowledge, Interstate uses the experience culminated over 55 years to contribute to each owner's success.
About Interstate Hotels & Resorts
Interstate Hotels & Resorts is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, convention centers and independent hotels worldwide. Currently, Interstate and its affiliates manage 431 hotels with over 77,300 rooms around the globe. In addition Interstate has executed agreements to manage 51 hotels with over 9,400 rooms under development or construction. For more information, please visit www.interstatehotels.com. Connect with Interstate at www.linkedin.com/company/interstate-hotels-resorts, www.facebook.com/InterstateHotels, and www.interstatehotels.com/careers.
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SOURCE Interstate Hotels & Resorts
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