News for the Hospitality Executive
First Hilton Brand Hotel in Russia's Capital City
ARLINGTON, Va., Aug. 26, 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 opened and is managing the 273-room Hilton Moscow Leningradskaya in Russia. The landmark hotel, which is owned by JSC Sadko, recently completed a two-year total restoration and is the first Hilton brand hotel in Russia. It is Interstate's eighth property in Europe.
Originally constructed in 1954, the 28-story Hilton Moscow Leningradskaya, located at Kalanchevskaya Street 21/40, underwent a total renovation that touched virtually every part of the hotel while retaining many of its historic architectural features. Among the upscale hotel's many amenities are an indoor heated swimming pool and sauna; 24-hour fitness center; business center; approximately 7,000 square feet of meeting space, including a 3,200 square-foot ballroom; and an elegant, first-class restaurant, Janus Restaurant, featuring sumptuous Russian cuisine. Guest rooms feature 32" LCD flat-panel TVs, and high-speed Internet access and Wifi.
"The addition of this hotel to our portfolio is an excellent illustration of our continued focus on international expansion and our ability to build on the solid platform we established more than a decade ago," said Thomas F. Hewitt, chief executive officer at Interstate. "Interstate was one of the first independent management companies to operate in Moscow, and after 13 years has developed strong local and regional relationships and contacts. We also have strong ties to all the major hotel franchisors and are delighted to have successfully negotiated the Hilton affiliation and to be managing the first Hilton hotel in Russia. We have a very strong pipeline of additional management contract opportunities in Russia, greater Europe, India, Mexico and Central America."
"Moscow is one of the fastest-growing cities and strongest economies
in the world today, and this is one of the most recognized hotels in the
city, one of seven famous 'Stalin' towers that visually define the Moscow
skyline," said Henry L. Ciaffone, president of international operations
and development at Interstate. "The restoration has successfully blended
the property's rich architectural heritage and today's latest technology
and amenities. With its highly desirable location just off Komsomolskaya
Square and the power of the Hilton name, we expect Moscow's first Hilton
brand hotel to become a magnet for international business and leisure travelers."
About Interstate Hotels & Resorts
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.
Carrie McIntyre, SVP, Treasurer
|Also See:||Moscow's Architectural Monument, the Hotel Leningradskaya, Undergoing Renovation to the Hilton Brand, Will be Operated by Interstate Hotels / October 2006|
|Hotels of Ural Ltd. Signs Franchise Agreement with Hilton to Rebrand the Plaza Olympia Hotel to the Hilton Garden Inn® in Perm, Russia / November 2007|