Interstate to Manage 13 Blackstone Properties

Adding 5,466 Rooms to Portfolio

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. December 09, 2010

ARLINGTON, VA - December 8, 2010 - Interstate Hotels & Resorts, the United States' largest independent hotel management company, today announced that it has signed agreements to manage 13 hotels recently acquired by affiliates of The Blackstone Group (Blackstone), a global alternative investment management firm. The upscale full-service properties are located in major urban markets and primarily include properties that were recently renovated and rebranded with Hilton, Starwood and Marriott brands.

“This brings to 21 the number of properties we manage for affiliates of The Blackstone Group and continues a relationship that began in 2006,” said Thomas F. Hewitt, Interstate chief executive officer. “The selection of Interstate to manage these properties underscores Blackstone's confidence in our continued ability to deliver a better bottom line at major urban properties in any economic climate.”

According to Leslie Ng, Interstate's chief investment officer, the portfolio includes six Westins, two Hiltons, two Sheratons, two Marriotts, and a Wyndham, aggregating 5,466 rooms, located in nine states, the District of Columbia and Canada.