Interstate Assumes Management of an Eight Hotel Portfolio
Owned by an Affiliate of Investcorp International, the pproperties expands Interstate's managed portfolio by 2,096 rooms
ARLINGTON, VA - September 18, 2012 - Interstate Hotels & Resorts today announced it has transitioned management of an eight-hotel portfolio owned by an affiliate of Investcorp International, Inc., a leading provider and manager of alternative investment products. The portfolio aggregates to 2,096 rooms and consists of one Hilton, five DoubleTree by Hilton hotels, one Marriott and one Sheraton located throughout the United States.
“It is extremely gratifying to earn new business from an existing owner,” said Jim Abrahamson, Interstate's chief executive officer. “Our depth of experience operating upper upscale hotel brands will enable us to maximize Investcorp's investment in these outstanding hotels.”
“Most are located in markets where Interstate already has a strong presence and extensive market experience, creating economies of scale that will benefit each property's bottom line,” said Leslie Ng, Interstate's chief investment officer. “We look forward to building on our relationship with Investcorp and for further opportunities to work with them.”
About Interstate Hotels & Resorts
Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging and Jin Jiang, is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, convention centers and independent hotels worldwide. Interstate and its affiliates manage 367 hotels with 69,000 rooms in North America, Europe and Asia-Pacific, including seven wholly owned hotels. In addition, Interstate has executed agreements to manage 36 hotels with more than 7,600 rooms under construction or development throughout the world.
For more information, visit www.interstatehotels.com. Connect with Interstate at www.linkedin.com/company/interstate-hotels-resorts, www.facebook.com/InterstateHotels, and http://jobs.interstatehotels.com
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
