Interstate Manage Hotel in Dublin, Ireland
Contract Expands Interstate's International Management Portfolio
JULY 25, 2006. Interstate Hotels & Resorts (NYSE:IHR) announced that it has signed a long-term contract to manage The Hotel Rath in Ashbourne, County Meath, Ireland. Located within 15 minutes of Dublin International Airport, the four-plus star hotel is owned by a local group of investors, including John McCabe of McCabe Builders Ltd; Paddy Kelly, a well-known local developer; and John Walsh, a private developer.
"This is the third country in Europe in which we operate a hotel," said Thomas F. Hewitt, Interstate chief executive officer. "Combined with our BridgeStreet corporate housing division, which has a presence in 13 European cities, we have a solid grasp of the European lodging market.
"We continue to seek expansion of our operations in Europe and are stepping up our efforts there. We see opportunities for first-class, full- service hotels -- those affiliated with top-quality brands like Marriott, Starwood, IHG and Hilton, which recently announced the international expansion of its family of brands, as well as independent hotels and resorts."
Located in Ashbourne, Co Meath, north of Dublin, the 150-room upscale hotel also will serve the nearby suburbs of Swords and Rathoth and is a convenient meeting point for travelers from Derry and Belfast. The full- service property features a concept destination restaurant, Mystic, and a modern Irish Pub, RED; a street cafe serving lighter fare; a wellness center, Clan; and 8,000 square feet of meeting space that can accommodate groups of up to 350 people.
The design of this building was of utmost importance to McCabe Builders from the outset, due to its prominent location on the junction of the N2/M2 North of Ashbourne and due to its close proximity to the M50 and city centre. They, therefore, set out to design and build what is a landmark building/meeting point at Ashbourne in conjunction with HKR architects and MB Designs of New York. McCabe Builders have completed similar projects of this kind in Ireland -- The Plaza Hotel, The Arlington Hotel and the Ardmore Hotel, to name a few. They also have designed and built many residential, commercial, retail and industrial projects since their establishment in 1975.
Sean Worker, Interstate EVP operations and development, noted that the hotel's food and beverage area currently is being reconcepted. "Discussions are under way with a world-class hotel brand that include plans for an elegant new signature restaurant and modern entertainment zone lounge. We view this property as 'the place to meet' in the North Dublin corridor. And our generous meeting space will help us assume a leadership position with the business meetings and weddings markets, as well."
As of June 30, 2006, Interstate Hotels & Resorts operates 262 hospitality properties with more than 59,000 rooms in 41 states, the District of Columbia, Canada, and Russia.
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