IHR Interstate Hotels & Resorts,

ARLINGTON, Va., Jan. 14 /PRNewswire-FirstCall/ -- 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 had signed agreements to manage two Courtyard by Marriott hotels, in Westborough, Mass. and Orange, Conn. The hotels are owned by Pittsburgh-based FFC Capital Corporation. FFC Capital Corporation was founded in 1998 by Milton Fine, former chairman and co-founder of Interstate Hotels Corporation, a predecessor company to Interstate. "We have a long-standing relationship with FFC and are thrilled to have this opportunity to work with them again," said Thomas F. Hewitt, chief executive officer of Interstate. "We are already examining other avenues of mutual interest, and are looking forward to building on our relationship going forward." "Interstate is one of the country's premier management companies, and we are delighted to have the opportunity to renew our relationship," said Fred Branovan, president of FFC Capital Corporation. "They have strong ties to the Courtyard brand and a long track record of success, with proven systems and exceptional people, and we have the utmost confidence in them." The Courtyard by Marriott Westborough is a 98-room property located in Westborough Technology Park, 20 miles west of downtown Boston. The hotel offers casual dining for breakfast in the lobby's Courtyard Cafe, a full-service business center, fitness center, indoor pool, and high-speed Internet access in the public areas and the guest rooms. The 121-room Courtyard by Marriott Orange is conveniently located off of I-95, close to Yale University and downtown New Haven. Among the hotel's amenities are nearly 4,000 square feet of meeting space, capable of accommodating groups of up to 250 people. About FFC Capital Corporation FFC Capital Corporation is a privately held company affiliated with Milton Fine, specializing in investment management across various asset classes, including marketable securities, bonds, stocks, private equities, derivatives, hedge funds, venture capital funds and direct ownership of real estate investments. For more information about FFC Capital Corporation, visit the company's Web site, http://www.ffccapital.net/. About Interstate As of December 31, 2007, Interstate Hotels & Resorts owned seven hotels and had a minority ownership interest through separate joint ventures in 22 hotels and resorts. Together with these properties, the company and its affiliates manages a total of 192 hospitality properties with nearly 43,000 rooms in 36 states, the District of Columbia, Belgium, Canada, Ireland, Mexico and Russia. Interstate Hotels & Resorts also has contracts to manage 16 hospitality properties with approximately 4,500 rooms currently under construction. For more information about Interstate Hotels & Resorts, visit the company's Web site: http://www.ihrco.com/. 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, 2006. Contact: Carrie McIntyre SVP, Treasurer (703) 387-3320 DATASOURCE: Interstate Hotels & Resorts CONTACT: Carrie McIntyre, SVP, Treasurer of Interstate Hotels & Resorts, +1-703-387-3320 Web site: http://www.ffccapital.net/ http://www.ihrco.com/

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