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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
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News for the Hospitality Executive |
| ARLINGTON, Va., May 18, 2011—Interstate Hotels & Resorts, the
United
States’ largest independent hotel management company, today announced
that the
company has assumed management of two premium-branded, select-service
hotels
owned by Summit Hotel Properties, Inc. (NYSE: INN), a Sioux Falls,
S.D.-based
hotel real estate investment trust (REIT). The hotels are the Homewood Suites Jackson-Ridgeland in Mississippi
and the
Staybridge Suites Denver Cherry Creek in Colorado. Interstate’s
Crossroads Division, which specializes in select-service hotels,
operates the
two extended-stay properties. “We began our relationship with Summit in February when they selected us to manage 65 hotels, and we look forward to building on this as Summit continues to acquire more properties,” said Thomas F. Hewitt, Interstate’s chairman and chief executive officer. “With the addition of these two properties, Interstate now has 338 hotels in its portfolio worldwide, and our pipeline, both international and U.S., is very active.” Located at 853 Centre Street in Ridgeland, Miss., north of Jackson, the 91-room Homewood Suites Jackson-Ridgeland features spacious studio, one- and/or two-bedroom suites with separate living and sleeping areas. With its easy access to Interstate 55, the property is convenient to downtown Jackson and surrounding businesses, as well as a number of leisure attractions, including Annandale Golf & Country Club, Vicksburg casinos and the area’s best shopping venues. The 121-suite Staybridge Suites Denver Cherry Creek at 4220 E. Virginia Ave., Glendale, Colo. enjoys a convenient location south of Denver, minutes from downtown attractions. For business travelers, the hotel is within five miles of the Denver Convention Center and proximate to Infinity Park Events Center and the state capital’s government offices and major downtown businesses. For leisure travelers, the hotel is a short drive to Mile High Stadium and close to Elitch Gardens Theme Park, Denver City Park and the Denver Zoo. About Summit Hotel Properties, Inc. Summit Hotel Properties, Inc. is a self-managed real estate investment trust that was recently organized to continue and expand the existing hotel investment business of its predecessor, Summit Hotel Properties, LLC, a leading U.S. hotel owner. The company will focus exclusively on acquiring and owning premium-branded select-service hotels in the upscale and midscale without food and beverage segments of the U.S. lodging industry. Summit Hotel Properties, Inc.’s portfolio consists of 68 hotels with a total of 6,888 guestrooms located in 19 states. About Interstate Hotels & Resorts, Inc. Interstate Hotels & Resorts, Inc, a wholly owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging and Jin Jiang, is the nation’s largest independent hotel management company based on revenue managed. The company and its affiliates manage and/or have ownership interests in 338 properties with more than 62,000 rooms in 39 states, the District of Columbia, China, Russia, India, Mexico, Belgium, Canada, Ireland and England. The company has ownership interests in 56 of those properties, including six wholly owned assets. Interstate Hotels & Resorts also has executed agreements for 18 hotels with over 3,700 rooms under construction or development throughout the world. In 2010, Interstate Hotels & Resorts pioneered the first independent hotel management company in China, Interstate China Hotels & Resorts, when it formed a joint-venture partnership with Jin Jiang Hotels, China’s leading hotel operator and developer. Interstate offers third-party hotel management on a global basis, providing the resources and infrastructure necessary for comprehensive hotel management operations, including sales and marketing, revenue management, food and beverage operations, e-commerce, accounting, and design and construction project management services for hotel owners and developers seeking a proven and experienced hotel management company. Additional information about Interstate is available at the company’s website: www.ihrco.com. |
| Contact:
Jerry Daly, Carol McCune Media Daly Gray (703) 435-6293 [email protected] Carrie McIntyre SVP, Treasurer Interstate Hotels & Resorts (703) 387-3320 [email protected]
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