Blackstone Names Interstate Hotels & Resorts to Manage 13 Properties

ARLINGTON, Va., Dec. 8, 2010 /PRNewswire/ -- Interstate Hotels & Resorts, the United States' largest independent hotel management company, today announced that it has signed agreements to manage 13 hotels recently acquired by affiliates of The Blackstone Group (Blackstone), a global alternative investment management firm.  The upscale full-service properties are located in major urban markets and primarily include properties that were recently renovated and rebranded with Hilton, Starwood and Marriott brands.

"This brings to 21 the number of properties we manage for affiliates of The Blackstone Group and continues a relationship that began in 2006," said Thomas F. Hewitt, Interstate chief executive officer.  "The selection of Interstate to manage these properties underscores Blackstone's confidence in our continued ability to deliver a better bottom line at major urban properties in any economic climate."  

According to Leslie Ng, Interstate's chief investment officer, the portfolio includes six Westins, two Hiltons, two Sheratons, two Marriotts, and a Wyndham, aggregating 5,466 rooms, located in nine states, the District of Columbia and Canada.  

The 13 hotels are:  

About Interstate Hotels & Resorts

Interstate Hotels & Resorts, Inc, a wholly owned subsidiary of a joint venture between subsidiaries of Thayer Lodging and Jin Jiang, is the nation's largest independent hotel management company based on revenue managed.  The company and its affiliates manage and/or have ownership interests in 243 properties with more than 51,000 rooms in 36 states, the District of Columbia, Russia, India, Mexico, Belgium, Canada, Ireland and England.  The company has ownership interests in 54 of those properties, including six wholly owned assets.  For more information about Interstate Hotels & Resorts, visit the company's Web site: www.ihrco.com.  

SOURCE Interstate Hotels & Resorts

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