Interstate Hotels & Resorts Assumes Management of the 179-room Holiday Inn West Bay Traverse City in Michigan; New Owners, ValStone Partners, Plan Multi-Million Dollar Property Renovation / September 2012

ARLINGTON, Va. /TRAVERSE CITY, Mich., September 4, 2012 — Interstate Hotels & Resorts today announced that it has assumed management of the 179-room Holiday Inn West Bay in Traverse City, Mich. The hotel was recently acquired by ValStone Partners, LLC, a Michigan-based private equity firm. The new owners plan to immediately invest in a multi-million dollar comprehensive hotel renovation that will enhance and revitalize this popular waterfront resort, anticipated to be completed ahead of the summer 2013 vacation season.

“This is our first management agreement with ValStone,” said Jim Abrahamson, Interstate’s chief executive officer. “We appreciate that they are entrusting a local landmark to us, and I am certain that our proven operating systems and resort management expertise, coupled with the hotel’s legacy of market dominance, will prove to be a very profitable alliance.”

Located on a pristine beach on Lake Michigan, Holiday Inn West Bay has been a Traverse City destination for more than 40 years, welcoming vacationers and business travelers alike to enjoy its peaceful surroundings, on-site marina, and easy proximity to the city’s charming downtown, 15 local golf courses, Michigan wineries and the Interlochen Performing Arts Center.

“We are delighted to be investing in this Lake Michigan jewel and contributing to the local economy,” said Gerald C. Timmis, III, senior managing director of ValStone Partners, LLC. “Holiday Inn West Bay has been a fixture in the Traverse City community for decades. When we’re finished with the planned improvements, the hotel will be positioned to welcome a whole new generation of travelers to this popular destination resort.”

The Holiday Inn West Bay features four restaurants, including outdoor dining, and two bars. An on-site marina with watercraft rentals, indoor and outdoor pools, whirlpools and sauna facilities make for memorable vacations, and 6,000 square feet of flexible meeting space for meetings or social occasions provide the perfect venue for business or pleasure. A fitness center, complimentary Wi-Fi and a 24-hour airport shuttle round out the hotel’s amenities. For hotel reservations or further information, please visit www.tcwestbay.com or call toll-free at (800) 888-8020.

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, convention centers and independent hotels worldwide. Interstate and its affiliates manage 372 hotels with approximately 69,000 rooms in North America, Europe and Asia-Pacific, including six wholly-owned hotels. In addition, Interstate has executed agreements to manage 45 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.

Also See:	Christopher K. Ivy Joins Interstate Hotels & Resorts as Executive Vice President, Development and Acquisitions / August 2012
	Interstate Hotels & Resorts Enters Agreement to Manage the 396-room Jiaxing Jin Jiang Xiang Jiadang Lake Hotel in China / July 2012
	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