Hotel Online
News for the Hospitality Executive

.

advertisement




Interstate Hotels & Resorts Enters Agreement to Manage the 396-room
Jiaxing Jin Jiang Xiang Jiadang Lake Hotel in China


JIAXING, July 24, 2012
-- Interstate China Hotels & Resorts Company Limited ("Interstate China"), today announced that it has signed an agreement to manage the 396-room Jiaxing Jin Jiang Xiang Jiadang Lake Hotel, its tenth managed or signed hotel in China. The Jiaxing hotel is anticipated to open in 2013 and is the sixth Jin Jiang branded hotel managed by Interstate China. Interstate China is a joint venture between Shanghai Jin Jiang International Hotels Company Limited ("Jin Jiang Hotels"), China's leading hotel operator and developer, and Interstate Hotels & Resorts, the leading U.S.-based global hotel management company.

"It is our great pleasure and honor to be awarded the management contract for the Jiaxing Jin Jiang Xiang Jiadang Lake Hotel," stated Jim Abrahamson, Interstate Hotels & Resorts' Chief Executive Officer. "Since introducing Interstate China in 2010 with our joint venture partner, Jin Jiang Hotels, we have seen a growing pipeline of management agreements under our dedicated, owner-focused hotel management platform."

"Over 50 years of world-class management experience and proven success for owners enables us to instill international hotel management policies, procedures and systems into the Chinese market," said Chris van der Baars, Interstate China's Chief Operating Officer. "The company's mission is aligned with our owners' goals to enhance their bottom line profitability and ROI. Over the coming years, we look forward to continuing to grow our hotel portfolio in cities throughout China."

Today, Interstate China also operates five-star hotels in Beijing, Wuhan and Shanghai, including the Shanghai JC Mandarin Hotel, the DoubleTree by Hilton Hotel Shanghai-Pudong, Chang An Grand Hotel Beijing, and Wuhan Jin Jiang International Hotel. The company has also been appointed to manage the luxury J Hotel Shanghai Tower, China's tallest hotel, scheduled to open in 2015.

The 396-room Jiaxing Jin Jiang Xiang Jiadang Lake Hotel is located in northeast part of Jiaxing in Zhejiang Province, about one hour's drive from Shanghai, and is being built in a resort setting along a Xiang Jiadang lake. The hotel has extensive meeting and conference facilities with nearly 8,000 square meters of flexible meeting and banquet space. The hotel will also include individual two-story villas to host government officials and high level VIPs. Other hotel facilities include a western restaurant, Chinese restaurant, spa, fitness centre, swimming pool, and cigar bar.

About Interstate China Hotels & Resorts
Shanghai-based Interstate China Hotels & Resorts, a joint venture between Interstate Hotels & Resorts and Jin Jiang Hotels, was established in 2010 to pioneer hotel management operations across China. 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. Over 50 years world class management experience and proven success for owners enable Interstate China to instill international hotel management policies, procedures and systems into the China's market. Since its first entry in 2010, Interstate China now manages four hotels nationwide with six more signed management agreements for hotels to open in the next three years. Interstate China's goal is aligned with owners' goals to enhance their bottom line profitability and their ROI. Currently, Interstate China has ten managed and signed hotels with more than 3,700 rooms throughout the country. For more information about Interstate China Hotels & Resorts, please visit www.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 and Budget hotels in China with 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 Lodging and Jin Jiang, is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, conference centers and independent hotels worldwide. Interstate 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. In addition, Interstate has executed agreements to manage 40 hotels with nearly 8,000 rooms under construction or development throughout the world. The company's global management platforms provide owners and developers a successful combination of large-scale resources, international expertise, owner and brand relations, and comprehensive world-class operations. For more information, visit www.interstatehotels.com 

About The Thayer Group
The Thayer Group ("Thayer") is a US-based private equity firm with a lengthy and successful track record. Founded in 1991, it has consistently provided returns for its hospitality funds. Across its portfolio, Thayer has funds covering key asset classes ("Thayer Lodging RE Funds," "Thayer China Opportunity PE Fund," and "Thayer Ventures VC Fund"). 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 created 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 the Marvel Hotel Brand based in Shanghai. For more information on Thayer in China, please contact jhellman@thayerlodging.com .
.
Contact:

Jerry Daly, Chris Daly
U.S. Media
Daly Gray, Inc.
703-435-6293
Chris@Dalygray.com




 Receive Your Hospitality Industry Headlines via Email for Free! Subscribe Here

To Learn More About Your News Being Published on Hotel-Online Inquire Here

.
Also See: Interstate Hotels & Resorts Forms Joint Venture with Waramaug Hospitality to Acquire the 295-room Williamsburg Hotel & Conference Center in Virginia; To Undergo $7.5 Million Renovation and Conversion to DoubleTree by Hilton Brand / July 2012

Samuel E. (Ted) Knighton Named President and Chief Operating Officer for Interstate Hotels & Resorts / July 2012

Interstate Hotels & Resorts and TVHG Budget Group Beheer BV Open Third Netherlands Hotel, the 80-room Holiday Inn Express Amsterdam-South, as Part of a Nine Hotel Portfolio Currently Under Development / June 2012

Interstate Hotels & Resorts to Manage The 187-room Marker Hotel in Dublin, Ireland; Owned by Brehon Capital Partners and Midwest Holdings, the Hotel Will Open Early in 2013 as Part of the Leading Hotels of the World Family / May 2012

Interstate Hotels & Resorts Expands India Hotel Portfolio to 13 with the Management Transition of The Turtle on the Beach and the Estuary Island Resort / April 2012

Interstate Hotels & Resorts to Manage the 85-room Khyber Mountain Resort and Spa in Kashmir, India; Under Development by Pinnacle Resorts to Open Winter 2012 / March 2012

Interstate Hotels & Resorts Unveils New Logo and Website as Part of Global Rebranding Initiative / March 2012

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 / March 2012

Interstate China Hotels & Resorts to Manage the 850-room DoubleTree by Hilton Shanghai-Pudong in China Owned by Shanghai Jin Jiang International Hotels / February 2012

Mosaic Company Selects Interstate Hotels & Resorts to Manage its 228-room Streamsong Resort Project Under Development in Central Florida / February 2012

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

Interstate Hotels & Resorts Executes Agreement to Manage the 136-room Four Points by Sheraton Kecskemét in Hungary to Open in 2013 / November 2011

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

Interstate Hotels & Resorts and JHM Hotels Joint Venture to Manage the 120-room New-build Ramada Hotel in Alleppey, Kerala, India / November 2011

Noble Investment Group and Interstate Hotels & Resorts Form New Dedicated Hotel Management Platform; Interstate Acquires Noble Management Group, Will Now Operate as Noble-Interstate Management Group / November 2011

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

PURE Allergy Friendly Rooms to be Featured in Six Cleveland, Ohio Area Residence Inn by Marriott Properties Managed by Interstate Hotels & Resorts / August 2011

Interstate Hotels & Resorts in a Joint Venture with JHM Hotels to Operate Two New Hotels in India, the 63-room Rajasthali Resort & Spa in Jaipur and the 145-room Ramada Amritsar in Amritsar / July 2011

Interstate Hotels & Resorts Completes Multi-Million Dollar Renovation of the 390-room Houston Marriott North in Texas / July 2011

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
.

To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch

Home | Welcome | Hospitality News
| Industry Resources

Please contact Hotel.Online with your comments and suggestions.