Interstate Hotels & Resorts Unveils Two Newly Acquired Premium Chicago Properties

ARLINGTON, Va., Aug. 7, 2018 /PRNewswire/ -- Interstate Hotels & Resorts unveiled the addition of two new premium branded hotels to its growing portfolio – the Hampton Inn Chicago Downtown /N Loop/Michigan Avenue and Cambria Hotel Chicago Loop-Theatre District.

The hotels were developed by Murphy Development Group (MDG), parent company of Murphy Asset Management (MAM), a leading hotel management support company whose partnership with Interstate continues to bring best-in-class service to the hotel management industry.  

"We are pleased to extend our relationship with MAM and add these two historic hotels to our portfolio," said Interstate Hotels & Resorts CEO, Mike Deitemeyer. "As a global leader in hotel management, we look forward to continuing to deliver value to our owners."

Interstate Hotels & Resorts currently manages another MAM asset, Hyatt Centric The Loop Chicago, extending their portfolio to three MAM properties. The award-winning Hampton Inn Chicago Downtown/N Loop/Michigan Avenue is a 143-room property, located in the historic   Chicago Motor Club building which is located one block south of the Chicago River. The Cambria Hotel Chicago Loop – Theatre District, a vintage 22-story, 199-room property, was originally constructed in 1927 and is situated above the historic Ford Center for the Performing Arts Oriental Theatre. This prime location merges business in the Loop with the high-energy nightlife of Chicago's popular River North and Streeterville neighborhoods.  

"Interstate has been a strong manager for us and we look forward to their support with these two iconic Chicago hotels," said John T. Murphy, chairman and CEO of MDG.

A global leader in third-party hotel management, Interstate Hotels & Resorts' depth of experience across all lodging segments and asset classes drives results in each of its managed hotels worldwide. For more information on Interstate Hotels & Resorts, visit www.InterstateHotels.com.

About Interstate Hotels & Resorts
Interstate Hotels & Resorts is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels, resorts, convention centers and independent hotels. Currently, Interstate's global portfolio represents 550 properties in 12 countries inclusive of a committed pipeline of signed hotels under construction or development around the world. The company's experienced operators, industry-leading platforms and extensive management capabilities produce exceptional guest experiences and optimal returns for hotel owners and investors. For more information, please visit www.interstatehotels.com, or follow Interstate on  Facebook and  LinkedIn. 

About Murphy Asset Management, LLC
Murphy Asset Management, LLC, a subsidiary of Murphy Development Group, focuses on generating development opportunities in the multifamily, hospitality and office sectors across the country. Through sound investment strategies and extensive due diligence, the dynamic development team at Murphy Asset Management with support from the MB Real Estate platform assists with identifying, evaluating and executing the projects by combining sound financial modeling, economic analysis and entrepreneurial creativity. Murphy Asset Management and the MB Real Estate team have supported numerous developments owned by affiliates of Murphy Asset Management, including: Lincoln Park 2550, Hyatt Centric The Loop Chicago and the Oriental Theater redevelopment. For more information on MAM and MDG, visit MurphyDevGroup.com.

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SOURCE Interstate Hotels & Resorts