Hotel Online  Special Report

Interstate Hotels & Resorts Signs Agreement to Manage
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. 

History of the Yorktowne Hotel

During the Revolutionary War, this community was named "Yorktowne".  When a new Hotel was planned for York, this name was chosen.

For over 70 years, the Yorktowne has been York's "Community Hotel".  The idea of a new Hotel was conceived by York's Chamber of Commerce.  Hundreds of Yorker's supported the idea by becoming Stockholders, allowing the Hotel to open debt free on October 17, 1925.  The Hotel was said to be "the best Hotel between New York and Pittsburgh, costing over one million dollars to build".  With its rich decor and "modern" facilities, the Yorktowne immediately became the pre-eminent Hotel, Business Meeting

Eleven stories tall, this Community landmark has an exterior done in the Renaissance style of architecture. Red tapestry brick is trimmed with ornamental terra-cotta.  The lobby and drawing room are paneled in rich wood.  Plaster moldings decorate the twenty foot high ceilings and column heads.  Ornate brass and crystal chandeliers hang from the ceiling of the ballroom.  The ballroom's polished oak floor still maintains its 1925 beauty.  To tour this beautiful old Hotel is a breath taking experience and takes you back to an age of elegance. 

As times have changed so has the Yorktowne.  Additions were made in 1929, 1933 and 1957.  Major renovations took place in 1976, 1982, 1986, and 1988.  The results are a Hotel with the modern conveniences that retains the charm of 1925.  Local companies purchased the Yorktowne in 1976.  Since then, they have made a deep financial commitment by investing millions of dollars in major renovation projects.

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

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