News for the Hospitality Executive
ARLINGTON, Va., April 26, 2010 -- Interstate Hotels & Resorts, the United States' largest independent hotel management company, today announced that it has opened and is managing the 366-room Renaissance Moscow Monarch Centre in Russia's capital city. The new-build hotel, which includes Moscow's largest dedicated conference center, is part of a mixed-use development built and owned by Monarch Open Joint Stock Company "Concern Monarch," one of the largest construction companies in Moscow.
"Interstate has been an independent, third-party hotel operator and has pioneered the opening of a number of international brands in Russia," said Kenneth W. McLaren, executive vice president of international operations at Interstate. "We now operate seven properties in the country, as well as five additional hotels in Europe. We have established a rock solid growth platform based on strong local relationships and mutual respect. Those relationships, combined with our proven track record and knowledge of local markets, represent a significant competitive advantage for us. We continue to seek additional management opportunities in Europe for both branded and independent hotels."
"The Renaissance Monarch Centre represents a major step forward in our international outreach to Europe," said Thomas F. Hewitt, chairman and chief executive officer. "Interstate has operated hotels in Europe for over a decade and is committed to additional expansion throughout the European Union. Last week, we announced the formation of a strategic alliance with a European-based hotel asset management company to establish a platform that will allow us to accomplish that. We have aggressive growth plans and see significant opportunities ahead."
The hotel's location in the new Monarch Centre, in the heart of Moscow's commercial district near the city's EXPO center, appeals to business and group travelers. In addition to the hotel, the development includes a separate 33-floor office tower and a four-floor shopping mall. The complex is located on the main highway linking central Moscow and Sheremetyevo Airport, at the intersection of Moscow's Third Transportation Ring and Leningradskiy Prospekt.
The hotel offers a combination of individual guestrooms and suites that feature flat screen televisions and high-speed Internet access. The property features 40 extended-stay suites that offer additional living space, kitchenette, refrigerators, dishwashers and cook top ranges. Hotel amenities include an indoor swimming pool, state-of-the-art fitness facilities, as well as massage rooms and sauna. For dining and entertainment, the hotel offers an all-day restaurant, lobby bar and lounge and a fine-dining restaurant featuring innovative fusion cuisine.
The hotel contains the city's largest single area conference and convention facility, with some of the largest and most modern meeting and event facilities in Moscow hotels today.
Twelve conference rooms and large pre-function spaces total nearly 26,000 square feet, including a 6,600-square-foot ballroom.About Interstate Hotels & Resorts, Inc.
Interstate Hotels & Resorts, Inc, a wholly owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging and Jin Jiang Hotels, is the United States' largest independent hotel management company based on revenue managed. The company and its affiliates manage and/or have ownership interests in 229 properties with nearly 46,000 rooms in 36 states, the District of Columbia, Russia, India, Mexico, Belgium, Canada, Ireland and England. The company has ownership interests in 56 of those properties, including six wholly owned assets. For more information about Interstate Hotels & Resorts, visit the company's Web site: www.ihrco.com.
Jerry Daly, Carol McCune
Interstate Hotels & Resorts