for Interstate Hotels & Resorts
|ARLINGTON, Va., June 29, 2006—Interstate Hotels & Resorts (NYSE:
IHR) today announced that Chris Van der Baars has been named vice president,
development. In this new position, Van der Baars will spearhead the
company’s condo/hotel efforts, beginning with the recently signed 1,100-unit
Pinnacle Condominium Resort in Las Vegas, an $850 million, under-development
condo resort project that is being managed by Interstate. Van der
Baars will report to Leslie Ng, Interstate’s chief investment officer.
“With his more than 30 years of experience in all aspects of hotel and resort operations, Chris adds a strong resort dimension to the considerable experience of the company’s business development group,” Ng said. “He also understands the complexities of condo/hotel operations, especially in dealing with homeowner groups and marketing, which we believe will give us a competitive edge in identifying and securing management opportunities in this growing niche segment. In addition to his strong leadership skills, he has experience with construction and renovation, which will be invaluable on the Pinnacle project.”
A hospitality industry veteran, Van der Baars joined Interstate in 2000 as manager of the 500-room Doubletree Westshore in Tampa, an airport property with 25,000 square feet of meeting space, where he was responsible for leading a major turnaround of the property. He was then promoted to general manager of Interstate’s South Seas Resort in Captiva, Fla., a 330-acre complex that includes a condominium hotel, timeshare operations, employee housing, two marinas, two golf courses, tennis operation, eight F&B outlets, catering, room service, recreation programs and retail, both owned and leased.
Prior to joining Interstate in 2000, Van der Baars was president of his own consulting firm, which specialized in maximizing individual and team performance in the hospitality industry for such clients as Hershey, Colonial Williamsburg, Starwood, Preferred Hotels and the DuPont Company. Among the high-profile resorts he has managed during his career are the Delta Orlando Resort, an 800-room hotel catering to domestic and international family markets, and The Lodge at Vail, one of America’s premier ski resort condo-hotels.
As of May 31, Interstate Hotels & Resorts operated 264 hospitality properties with nearly 60,000 rooms in 41 states, the District of Columbia, Canada, and Russia. BridgeStreet Worldwide, an Interstate Hotels & Resorts’ subsidiary, is one of the world’s largest corporate housing providers. BridgeStreet and its network of Global Partners offer more than 9,800 corporate apartments located in more than 95 MSAs throughout the United States and internationally. For more information about Interstate Hotels & Resorts, visit the company’s Web site: www.ihrco.com.
This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about Interstate Hotels & Resorts, including those statements regarding future operating results and the timing and composition of revenues, among others, and statements containing words such as "expects," "believes" or "will,” which indicate that those statements are forward-looking, although not all forward-looking statements will contain such words.
Interstate Hotels & Resorts
|Also See:||Leslie Ng to Join Interstate Hotels & Resorts as Chief Investment Officer / September 2005|
|Interstate Hotels & Resorts to Manage 1,100-unit Pinnacle Condominium Resort in Las Vegas / May 2006|