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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

ARLINGTON, Va. /WILLIAMSBURG, Va., July 19, 2012
Interstate Hotels & Resorts today announced that it has formed its fourth joint venture with Waramaug Hospitality LLC and a private investment group and acquired the 295-room Williamsburg Hotel & Conference Center (formerly, the Marriott Hotel Williamsburg) for an undisclosed amount.  The hotel will immediately undergo a $7.5 million comprehensive renovation and convert to the upper upscale DoubleTree by Hilton brand.  Interstate will manage the hotel under a long-term contract.

“We continue to build on our strong relationship with Waramaug, a leader in hospitality real estate investments, adding our fourth project with them in the past 17 months,” said Jim Abrahamson, Interstate’s chief executive officer.  “With the planned renovation and rebranding, in addition to an ideal location close to significant demand drivers, we expect the hotel to take a leadership position in this market.”

“This hotel offers some of the largest meeting and event space in Williamsburg, is close to all of the major historic, recreational and shopping attractions, and also serves a large nearby corporate base,” said Paul Nussbaum, Waramaug’s chairman and chief executive officer.  “The substantial hotel renovation and repositioning, in addition to Interstate’s operations experience all offer excellent upside for this property in a rebounding market.”

Located on 15 wooded acres within the Busch Corporate Center in Williamsburg, the hotel is the closest hotel to Busch Gardens and within minutes of Colonial Williamsburg, the College of William & Mary and world-class golf courses, with easy access to both the Richmond and Norfolk airports. The Williamsburg Hotel & Conference Center features 45,000 square feet of meeting space for up to 1,600 people and an auditorium with capacity for more than 700.  Other amenities include three dining options, an indoor/outdoor connecting swimming pool, seasonal tennis courts and a full-service fitness and business center. For more information about The Williamsburg Hotel & Conference Center, please visit www.thewilliamsburghotelcc.com.

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 44 hotels with over 8,300 rooms under construction or development throughout the world.

For more information, visit www.interstatehotels.com. Connect with Interstate at www.linkedin.com/company/interstate-hotels-&-resorts, www.facebook.com/InterstateHotels, and http://jobs.interstatehotels.com.
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Contact:

Jerry Daly, Chris Daly
Daly Gray
(703) 435-6293
jerry@dalygray.com




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Also See: 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
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