News for the Hospitality Executive
Jackson-Shaw Appoints Interstate Hotels & Resorts
to Manage the 322 room
Hampton Inn Tropicana in Las Vegas; It Is the Largest
Hampton Branded Hotel in the World
ARLINGTON, Va., October 15, 2008 — Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent operator of full- and select-service hotels, today announced that it is now managing the 322-room and suite Hampton Inn Tropicana and adjacent Southwest Event Center in Las Vegas, Nev. It is the largest Hampton Inn among the brand’s more than 1,600 hotels worldwide. The property, which recently completed a major refurbishment of all guestrooms, public spaces, pool and cabanas, is owned by Jackson-Shaw, a national real estate developer.
“This is our second Las Vegas property with Jackson-Shaw, for whom we also manage the 548-room Renaissance Las Vegas,” said Thomas F. Hewitt, chief executive officer. “Despite the current economic slowdown, Las Vegas remains a major travel destination, attracting more than 36 million tourists annually. The hotel’s adjoining event center adds an important dimension to the property, which has become a popular venue for business meetings, weddings and other local social events. We believe this contract demonstrates Jackson-Shaw’s confidence in our ability to deliver excellent results at major urban properties.”
“In such a challenging economic environment, Interstate, with its size advantages and depth of experience with the full range of hotel products and market segments, was a logical choice,” said Christopher Sheldon, vice president of hotel operations at Jackson-Shaw. “They’ve already produced excellent results for us this year at our full-service Renaissance Las Vegas, and we’re confident they can duplicate that success at the Hampton Inn Tropicana.”
Located at 4975 Dean Martin Drive, a short walk from the fabled Las Vegas Strip lined with colossal mega casinos, the hotel is two miles from McCarran International airport and close to the UNLV campus and Thomas & Mack Center, the Fashion Show Mall and the Sands Convention Center, and the Las Vegas Convention Center.
The renovated property features a full roster of complimentary services and amenities, including Hampton’s free “On-the-House” hot breakfast, free high-speed Internet, and 24-hour airport transportation. Hotel amenities include a Lagoon swimming pool and waterfall, whirlpool spa, sun deck and cabanas, a fully equipped business center, and a 24-hour fitness center.
The Hampton Inn Tropicana and adjoining Southwest Event Center provide a total of 10,000 square feet of flexible meeting and event space. The hotel can accommodate groups of up to 180 and offers full catering services and state-of-the-art audio/visual. The event center can accommodate larger meetings of up to 300 people, and can be configured as one grand conference room, a split conference room, a reception foyer, and an outdoor patio.
“We have added more than 50 management contracts to our portfolio this year, and we will continue on our path towards helping owners optimize returns, particularly in this challenging economic climate,” said Leslie Ng, Interstate’s chief investment officer.
About Interstate Hotels & Resorts
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. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially, including the volatility of the national economy, economic conditions generally and the hotel and real estate markets specifically, the war in Iraq, international and geopolitical difficulties or health concerns, governmental actions, legislative and regulatory changes, availability of debt and equity capital, interest rates, competition, weather conditions or natural disasters, supply and demand for lodging facilities in our current and proposed market areas, and the company’s ability to manage integration and growth. Additional risks are discussed in Interstate Hotels & Resorts’ filings with the Securities and Exchange Commission, including Interstate Hotels & Resorts’ annual report on Form 10-K for the year ended December 31, 2007.
Interstate Hotels & Resorts
|Also See:||Interstate Hotels & Resorts Selected to Manage 548-Room Renaissance Hotel in Las Vegas and The Pantages Suites Hotel & Spa in Toronto / February 2004|