News for the Hospitality Executive
The Monahan Group Selects Interstate Hotels & Resorts
to Manage Two Hotels
within the $300 million Gateway Gettysburg Hotel & Entertainment
Complex in Pennsylvania
|ARLINGTON, Va., January 25, 2008 — Interstate Hotels &
Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s
largest independent operator of full- and select-service hotels, today
announced that it has agreed to manage two hotels and two first-class restaurants
in Gateway Gettysburg, a $300 million, 100-acre, mixed-use complex in Adams
County, Pa. The Monahan Group, based in Gettysburg, is the owner
and developer of the properties that include the Courtyard by Marriott
Gettysburg, the Wyndham Gettysburg Hotel and Conference Center, Garibaldi’s
Ristorante and Old Eagle Grill.
“These recently opened properties are the top hotels in the region,
in a terrific location surrounded by some of Pennsylvania’s most popular
tourist attractions and historic sites, near the Gettysburg battlefield,
Gettysburg College and Mount St. Mary’s University,” said Thomas F. Hewitt,
Interstate’s chief executive officer. “These are our first contracts
with the Monahan Group, and we are delighted to have the opportunity to
operate these properties and to help the owners maximize their return on
95 Presidential Circle
The Gateway Gettysburg is a multi-hotel, restaurant and entertainment complex, located at the junction of US Rt. 15 and Rt. 30. It currently features a conference center with 65,000 square feet of meeting space, a 46,000-square-foot amphitheater, and a full-service business center. All upscale restaurants in the complex operate under the guidance and culinary direction of world-renowned chef, Claude Rodier, who serves as executive chef and food and beverage director. Rodier brings more than 30 years of culinary experience in the restaurant and hospitality industries, both in the U.S. and abroad.
The centerpiece of Gateway Gettysburg is RC Gateway Theaters 8, a high-tech movie theatre with eight screens, two of which are the largest digital screens in the country with live satellite broadcasting capabilities. The two theaters with three-story high screens have seating capacities of 300 and 400 each and can serve as auditoriums as well as movie theaters.
“We fully expect the Gateway Gettysburg complex to become the area’s pre-eminent destination, located at a major intersection leading into Gettysburg,” said Robert J. Monahan, Jr., president and chief executive officer of The Monahan Group. “With Interstate’s proven ability to operate both upper-upscale and limited-service properties, we are confident they will take full advantage of the operating potential of these two hotels.”
The 152-room Courtyard by Marriott Gettysburg features complimentary, high-speed Internet access, an indoor pool and whirlpool, an exercise room, business center, valet dry cleaning, guest laundry, two meeting rooms and a boardroom. Food service is available in a café and a 24-hour food market. Guests can also relax in a lounge and bar area equipped with a plasma screen television and fireplace. An area near the lounge is equipped with computers with Internet access for guest use.
The upper-upscale, 250-room Wyndham Gettysburg Hotel and Conference
Center is the second hotel to open in the Gateway Gettysburg development.
Hotel amenities include an elegant, world-class restaurant, 1863 Restaurant,
and 16,000 square feet of flexible meeting
About The Monahan Group
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.
|Also See:||Interstate Hotels Forms Joint Venture with Investcorp Real Estate Group; Will Acquire for $118 million from Afiliates of The Blackstone Group the 321-room Hilton Seelbach, Louisville in Kentucky; the 226-room Crowne Plaza Madison in Wisconsin; and the 288-room Sheraton Columbia in Maryland / September 2007|
|Interstate Hotels & Resorts Forms Joint Venture with Harte Holdings of Ireland, Signs Agreement to Acquire Four-hotel Portfolio from Blackstone for $208 Million / December 2007|