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Shanghai Jin Cang Mandarin Hotel Ltd. Selects Interstate China, a Joint Venture
Between Interstate Hotels & Resorts and Jin Jiang Hotels,
to Manage Shanghai’s 514-room JC Mandarin Hotel
 

SHANGHAI, March 5, 2012 -- Interstate China Hotels & Resorts Company ("Interstate China"), a joint venture between Interstate Hotels & Resorts, the largest independent U.S.-based global hotel management company, and China's leading hotel operator and developer, Jin Jiang International Hotels Company ("Jin Jiang Hotels") has announced that it has executed an agreement to manage the 514-room JC Mandarin Hotel effective February 1st, 2012. The hotel is owned by Shanghai Jin Cang Mandarin Hotel Ltd.

"It is our great pleasure to be awarded the management contract for the JC Mandarin Hotel," stated Chris van der Baars, Interstate China's Chief Operating Officer. "The hotel's great history and reputation are a tribute to Interstate China, and we are proud to provide our management and guest service systems and proprietary systems to the property. We welcome the JC Mandarin to the Interstate China family which now represents seven managed and signed hotels with over 2,500 rooms throughout China." This activity follows an announcement in December of 2010 that the company had been named to manage the luxury J Hotel located in Shanghai Tower, anticipated to be the world's tallest hotel scheduled to open in 2015.
Interstate China also manages five-star hotels in Beijing and Wuhan.

JC Mandarin Hotel is located at the center of the city's business and shopping districts at world-famous Nanjing Road. Its well-established five-star service, combined with its history of providing the finest in accommodations and luxury to guests, have made the JC Mandarin one of the city's first five-star hotels.

With 514 spacious guestrooms and one of the city's largest ballrooms, The JC Mandarin Hotel offers its guests the finest in business and leisure facilities. From its Wine Bar & Grille Restaurant for steaks and chops to its Mandarin Pavilion Chinese Restaurant to its Cuba Cigar Lounge, the hotel provides its guests and the local Shanghai community with the ultimate in variety, quality, and service. In addition, the hotel's extensive Fitness Centre and European Wellness Spa provide round-the-clock relaxation and stress reduction for all.

About Interstate China Hotels & Resorts Company
Shanghai-based Interstate China Hotels & Resorts Company, a joint venture partnership with Interstate Hotels & Resorts and Jin Jiang Hotels, was established in 2010 to pioneer hotel management operations in the region. The Company's management platform provides hotel owners and developers with the resources and economies of scale necessary for world-class operations of franchised hotels under leading international brands and landmark independent hotels. Hotel management services include experienced owner and brand relations; sales and marketing, revenue management and e-commerce; food and beverage operations; human resources; accounting and finance; and design and construction consulting services for hotel owners and developers seeking a proven and experienced hotel management company. Currently, Interstate China has eight managed and signed hotels with more than 3,100 rooms throughout China. For more information about Interstate China Hotels & Resorts, please visit www.interstatechina.com , or contact Chief Operating Officer Chris van der Baars at info@interstatechina.com .

About Jin Jiang Hotels
Shanghai Jin Jiang International Hotels (Group) Company Limited ("Jin Jiang Hotels") is one of the leading hotel operators and managers in China. Jin Jiang Hotels is licensed to use the well-regarded "Jin Jiang" and "Jin Jiang Inn" brand. As at the end of 2011, Jin Jiang Hotels owned and managed 858 Star-rated hotels in China with over 123,000 rooms either in operation or under development, spanning across more than 190 cities in 31 provinces, autonomous regions and municipalities in China. The Group was ranked 12th in the world in terms of number of rooms as at the end of 2010 according to HOTELS Magazine, the official publication of the International Hotel & Restaurant Association.

About Interstate Hotels & Resorts
Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer and Jin Jiang Hotels, is the largest and leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, conference centers and independent hotels worldwide. The Company and its affiliates manage and/or have ownership interests in nearly 400 hotels with more than 70,000 rooms in North America, Europe and Asia-Pacific. The Company has ownership in 58 of those hotels, including six wholly owned hotels. Interstate also has executed agreements for 37 hotels with over 6,500 rooms under construction or development throughout the world. For nearly two decades, Interstate Hotels & Resorts has been operating hotels outside of the United States and in 2010, the Company entered China with the formation of Interstate China Hotels & Resorts. The Company's global management platforms in Western Europe, Russia, India and China provide owners and developers a successful combination of large-scale resources, international experience, and comprehensive hotel management operations including sales and marketing, revenue management, e-commerce, procurement, food and beverage operations and technical services for hotel owners and developers seeking a proven hotel management company. For more information about Interstate Hotels & Resorts, please visit www.ihrco.com

About The Thayer Group
The Thayer Group ("Thayer") is a US-based private equity firm with a lengthy and successful track record that spans multiple investment cycles. The firm was founded in 1991 and has consistently provided returns for investments via its hospitality funds. In addition to its hotel investment funds, there is deep experience and success at new venture investments for technology and innovative businesses. Thayer first entered China in 2005 with its investment in Shanghai-based HUBS1. This has proved to be rewarding. The HUBS1 CRS system is now the leading web-based, real-time, Central Reservation System in today's market, which provides client hotels a one-stop seamless connection to all major Global Distribution System (GDS) companies, hundreds of third-party websites, travel agencies and corporations. In 2010, Thayer followed its initial foray into China with a 50/50 joint venture with Shanghai Jin Jiang International (Group) Company Limited to privatize Interstate Hotels & Resorts, Inc. Since the acquisition, the company's management contracts have increased 34%. Thayer is also a joint venture partner in JTR Realty and Marvel Hotel Brand, which are both based in Shanghai.
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Contact:

Ogilvy Public Relations Worldwide, Shanghai
Yolanda Hu
Tel: +86 21 2405 1610
MP: +86 136 3665 9622
Email: yolanda.hu@ogilvy.com

Sylvia Sun
Tel: +86 21 2405 0694
MP: +86 138 1673 5345
Email: sylvia.sun@ogilvy.com




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Interstate Hotels & Resorts Acquires the 300-room Crowne Plaza Columbus North Hotel in Ohio Through a Joint Venture with Waramaug Hospitality; Hotel to Undergo $5.25 Million Dollar Renovation / January 2012

Interstate Hotels & Resorts Assumes Management of the 473-room Pheasant Run Resort in St. Charles, Illinois / January 2012

Interstate Hotels & Resorts Assumes Management of the 122-room Holiday Inn Express & Suites in Montrose, Colorado; Property Recently Acquired by an Affiliate of Blue Cougar Investments / January 2012

Interstate Hotels Completing Multi-Million Dollar Renovation of the 329-room Hilton Concord Hotel in Concord, California; The Project, Incorporating Environmental and Sustainable Systems, is Scheduled for Early 2012 Completion / December 2011

Jim Abrahamson Transitions to CEO of Interstate Hotels & Resorts; Senior Leadership Team Appointed with Ted Knighton as COO / November 2011

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Max Ng Appointed as Senior Vice President of Development for Interstate China Hotels & Resorts, an Interstate Hotels and Jin Jiang International Hotels Joint Venture / November 2011

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Interstate Hotels & Resorts Enters JV with Netherlands-based TVHG Budget Group Beheer BV to Develop a Nine-hotel Portfolio in the Netherlands / September 2011

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Interstate Hotels & Resorts Appoints Emily Boling Lynn as Vice President, Global Sales and Strategic Accounts / July 2011

Interstate Hotels & Resorts Executes Agreements with NBB-Development to Manage Six Hotels in Sochi, Russia, Site of 2014 Winter Olympics / July 2011

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

Jim Abrahamson Appointed as President and COO of Interstate Hotels & Resorts / June 2011

Interstate Hotels & Resorts Assumes Management of Homewood Suites Jackson-Ridgeland in Mississippi and the Staybridge Suites Denver Cherry Creek in Colorado Increasing to 67 the Number of Hotels Managed for Summit Hotel Properties / May 2011

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

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