the Historic Yorktowne Hotel in York, Pennsylvania
|ARLINGTON, Va. - Nov. 1, 2004 -- Interstate Hotels & Resorts (NYSE:
IHR), the nation's largest independent hotel management company, today
announced that it has signed an agreement to manage The Yorktowne Hotel
in historic York, Pa. The 122-room landmark property is a member of the
National Trust's Historic Hotels of America, an elite group of hotels nationwide
that are listed in, or eligible for, the National Register of Historic
Places. The hotel is owned by a partnership known as The Yorktowne Hotel,
made up of two local corporations, Susquehanna Pfaltzgraff Co. and GTZ
Corporation, a related entity of The Wolf Organization.
"This is an upscale boutique property in a historic area, near Gettysburg, Hershey and Amish country, that has great regional appeal and draws from a number of nearby urban areas, including Baltimore, Harrisburg and Philadelphia," said Steve Jorns, chief executive officer of Interstate. "As a Historic Hotel of America, it has special appeal for those looking for a unique lodging experience that combines the best of the old and the new. As one of eight hotels we manage in Eastern Pennsylvania, we will be able to take advantage of operating synergies and economies of scale. We expect to build on this elegant property's reputation as one of the region's finest."
"Interstate's successful track record with upscale boutique hotels and high-end restaurants made them a compelling choice as manager," said John Finlayson, vice president, finance & administration for Susquehanna Pfaltzgraff Co. "We believe that Interstate's expertise in management and marketing will not only benefit our hotel, but tourism for the city, as well."
Built in 1925, the 11-story Renaissance Revival-style hotel combines
old-world charm with all the modern conveniences of a first-class hotel.
The hotel features 20-foot-high ceilings, ornate brass and crystal chandeliers,
wood-paneled rooms and wall-sized mirrors. The 122 oversized guest rooms,
including 27 suites, are tastefully appointed with period furnishings,
floral prints and tile baths.
Located at 48 East Market Street, The Yorktowne Hotel is situated in the historic section of downtown York, near the recently renovated Strand Capital Performing Arts Center. Steeped in Revolutionary War history, York's numerous historical local attractions appeal to a broad cross-section of visitors. Approximately 1.5 miles west of Interstate 83, York also is home to a number of major companies, including Susquehanna Pfaltzgraff, The Wolf Organization, Wellspan Health, Harley Davidson Motor Company, York International, and Dentsply International.
Among the numerous hotel amenities are 10,000 square feet of meeting space, two restaurants (including the only four-diamond restaurant in York County) and a parking garage.
Interstate Hotels & Resorts operates more than 300 hospitality properties with nearly 70,000 rooms in 40 states, the District of Columbia, Canada, Russia, and Portugal. BridgeStreet Corporate Housing Worldwide, an Interstate Hotels & Resorts' subsidiary, is one of the world's largest corporate housing providers.
This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about Interstate Hotels & Resorts, including those statements regarding future operating results and the timing and composition of revenues, among others, and statements containing words such as "expects," "believes" or "will," which indicate that those statements are forward-looking.
Interstate Hotels & Resorts
Melissa Thompson, 703-387-3377
|Also See:||National Trust for Historic Preservation Adds 23 Notable and Architecturally Significant Hotels / Oct 2000|
|Eastern Development & Design Plans to Break Ground this Fall on the Carriage House Resort, a 229-room Hotel and an 18-hole Golf Course in York, Pa / June 2001|