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Interstate Hotels & Resorts Executes Agreements with
NBB-Development to Manage Six Hotels in Sochi,
Russia, Site of 2014 Winter Olympics



ARLINGTON, Va., July 14, 2011—Interstate Hotels & Resorts, the United States’ largest independent hotel management company, today announced that it has been selected to manage six hotels to be developed by NBB-Development in Sochi, a sea and mountain resort area in southwestern Russia and site of the 2014 Winter Olympics.  The properties, which will aggregate 1,564 rooms and are expected to open in fall of 2013, comprise a city center business hotel, a golf resort and four hotels in the mixed-use real estate development that is an integral part of the infrastructure of the 2014 Winter Olympics.

“Russia is where we began our international outreach more than 16 years ago,” said Thomas F. Hewitt, Interstate’s chairman and chief executive officer.  “These six properties add to our growing European portfolio.  We pioneered independent third-party management in Russia and currently operate seven significant hotels in Moscow.  We believe there are continued opportunities throughout the region and have a full team in place to oversee this expected growth.”

The city and resort area of Sochi is located in the Krasnodar Kray region in southwestern Russia, stretching along the Black Sea coast at the foot of the western part of the main Caucasus mountain range.  The six resort hotels, ranging in size from 150 to 400 rooms, collectively will constitute the majority of the available rooms inventory for a high-quality, mixed-use development that will feature multiple shopping and entertainment facilities, health and spa centers, museums, a conference center and the Museum of the Olympic History and Glory.  The development also will feature a wide variety of sports, leisure and recreation activities.

“Interstate has in-depth expertise in operating resorts in a variety of settings, ranging from beach to mountain and desert to island,” said Chris Bennett, managing director, international.  “In addition to management upon opening, we will provide technical services and pre-opening oversight during the construction phase.

“This is an exciting project and we look forward to bringing to bear all the advantages of our successful business model, including a solid operating platform, strong local affiliations, cultural expertise and long and positive relationships with the major international hotel brands,” he added.

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 United States’ largest independent hotel management company based on revenue managed.  The company and its affiliates manage and/or have ownership interests in 329 properties with more than 60,000 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.
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Contact:

Jerry Daly, Carol McCune
Media
Daly Gray
(703) 435-6293
jerry@dalygray.com 
 
Carrie McIntyre
SVP, Treasurer
Interstate Hotels & Resorts
(703) 387-3320
carrie.mcintyre@ihrco.com


 

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Also See: Interstate Hotels & Resorts Names Julie Pangelinan Chief Financial Officer / July 2011

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Interstate Hotels & Resorts Opens the 88-room Four Points by Sheraton Long Island City/Queensboro Bridge Hotel in Queens, New York, Owned by 39th Ave Holding LLC / May 2011

Interstate Hotels & Resorts Assumes Management of 30-hotel Portfolio, Comprising 4,060 rooms, Owned by Inland American Real Estate Trust; Portfolio Now Includes 337 Properties / April 2011

Interstate Hotels & Resorts Acquires 262-room Sheraton Denver Tech Center in a Joint Venture with Waramaug Hospitality; Will Begin $5.75 Million Renovation / February 2011

Senior Management Team Appointed for Interstate China, an Interstate Hotels & Resorts Joint Venture with Shanghai Jin Jiang International Hotels / February 2011

Interstate Hotels & Resorts Assumes Management of Summit Hotel Properties’ 65-hotel Portfolio / February 2011

BTW Hotel Holdings, LLC Selects Interstate Hotels & Resorts to Manage the Comfort Inn Manhattan Bridge in New York City / February 2011

Inland American Lodging Advisor & IHG Open the Crowne Plaza Charleston Airport Convention Center in Charleston, South Carolina, Following $13 million Renovation and Conversion from a Quality Inn & Suites; Property Managed by Interstate Hotels & Resorts / January 2011

Interstate Hotels & Resorts Named to Manage Freestyle Park Resort Hotel in Moscow; Futuristic Resort to Feature Indoor Ski Slope, Entertainment, Retail, Movies, Restaurants / November 2008

Interstate Hotels & Resorts Opens Hilton Moscow Leningradskaya Hotel; First Hilton Brand Hotel in Russia's Capital City / August 2008

Interstate Hotels & Resorts Appoints Three Vice Presidents to Head Up Moscow Operations / February 2007
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