News for the Hospitality Executive
May 10, 2011—Interstate
Hotels & Resorts
, the United
States’ largest independent hotel management company, today announced
has opened and is managing the 88-room Four Points by Sheraton Long
City/Queensboro Bridge in Queens, New York. The newly built
which was developed and is owned by 39th Ave Holding LLC, is the first
Interstate manages for the ownership group.
“The addition of this management contract continues the upward trend in new contracts we’ve seen this year,” said Thomas F. Hewitt, Interstate’s chairman and chief executive officer. “It is particularly gratifying to be operating this property, our fourth managed Four Points by Sheraton and our ninth hotel in the New York metropolitan region, on behalf of a new ownership group.”
“Interstate has significant experience and an impressive track record in the upscale select-service segment, and we’re confident that their size, proven systems and knowledge of the New York market will have a significant positive impact on the hotel,” said Michael Psarros, majority owner of the development group. “This is our first development venture in the hospitality business, and we look forward to exploring other opportunities with Interstate.”
Located at 27-05 39th Avenue, Long Island City, the upscale select-service hotel is within walking distance of major subway lines N & Q on 39th Avenue and the #7 Train at Queensboro Plaza, two stops from Manhattan via the N line. Guest rooms feature the Four Points by Sheraton Four Comfort Bed™, free high-speed Internet access, flat-screen TV, spacious work desk and spectacular views of the Manhattan skyline and the Queensboro Bridge.
Hotel amenities include Michael’s Café and Bar, an American bistro, state-of-the-art fitness facilities, 24/7 business center, balcony terrace overlooking New York City and 2,500 square feet of flexible meeting space. A rooftop dining facility, the Vista Sky Lounge, featuring breath-taking views is planned for the coming months.
About 39th Ave Holding LLC
39th Ave Holding LLC is a New York-based company established in 2004 to manage and develop the real estate holdings of its members in the Long Island City area. The company is actively pursuing other real estate development opportunities in the New York metropolitan area.
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, 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 339 properties with more than 62,300 rooms in 39 states, the District of Columbia, China, Russia, India, Mexico, Belgium, Canada, Ireland and England. The company has ownership interests in 56 of those properties, including six wholly owned assets.
Interstate Hotels & Resorts also has executed agreements for 18 hotels with over 3,700 rooms under construction or development throughout the world. In 2010, Interstate Hotels & Resorts pioneered the first independent hotel management company in China, Interstate China Hotels & Resorts, when it formed a joint-venture partnership with Jin Jiang Hotels, China’s leading hotel operator and developer.
Interstate offers third-party hotel management on a global basis, providing the resources and infrastructure necessary for comprehensive hotel management operations, including sales and marketing, revenue management, food and beverage operations, e-commerce, accounting, procurement, and design and construction consulting services for hotel owners and developers seeking a proven and experienced hotel management company.
Additional information about Interstate is available at the company’s website: www.ihrco.com.
For further information about the Four Points by Sheraton Long Island City/Queensboro Bridge, or to make a reservation, visit the hotel’s website: www.fourpointslongislandcity.com or call (718) 786-8500.
Jerry Daly, Carol McCune
Interstate Hotels & Resorts
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