Interstate Hotels & Resorts Signs Agreement to Manage Bourbon Orleans in New Orleans
2008年1月22日 - 10:30PM
PRニュース・ワイアー (英語)
ARLINGTON, Va., Jan. 22 /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 has signed an
agreement to manage the historic Bourbon Orleans hotel, in the
heart of New Orleans' French Quarter. It is the third hotel
Interstate manages in the Crescent City, all owned by a local group
of hotel developers. Interstate is in discussions with the same
group of investors regarding management of a fourth hotel expected
to open this fall. Located at 717 Orleans at the corner of Bourbon
Street, the 218-room Bourbon Orleans is situated directly behind
the landmark St. Louis Cathedral, offering easy access to the
city's most celebrated attractions, including Royal Street and its
upscale shopping, the always entertaining Jackson Square, the Cafe
du Monde and the diversions and nightlife of Bourbon Street. Built
in 1817 and opened as the opulent New Orleans Ballroom, the
property catered to the city's love of dancing and balls, and was
adjacent to the Orleans Theater, where French Opera was established
in America. The facility was purchased in 1881 by the Sisters of
the Holy Family and served as a school for more than 80 years. In
1964, the property was sold to hotel interests. The Bourbon Orleans
of today combines the elegance of a European boutique hotel with
the modern amenities demanded by today's guests. "The Bourbon
Orleans is a New Orleans treasure and a favorite with visitors
seeking a connection to the city's rich history and Southern
charm," said Thomas F. Hewitt, Interstate's chief executive
officer. "This unique, historic hotel is a strong contributor to
this market as the city continues to recover and return to
pre-Katrina levels. "We are delighted to add a third locally owned
New Orleans hotel to our portfolio and build on our previous
relationship with this group of owners," he added. "We consider the
offer of additional hotels from our current owners as a major
compliment, and we look forward to delivering the same superior
level of service we have provided in the past." "Interstate has
delivered outstanding results for us to date, and we look forward
to expanding our relationship with them through the Bourbon," said
Joseph A. Jaeger, Jr., managing member of St. Ann Lodging, LLC.
"Their expertise with historic hotels and urban destination
markets, together with their proprietary operating systems and
marketing expertise, makes them a strong choice as manager. We
believe the property will generate strong returns and be a
significant player in the city's comeback." Each of the Bourbon
Orleans' spacious guestrooms exhibits its own charm and grace, with
features like Chippendale and Queen Anne furnishings, pillow top
mattresses and private balconies with views of the hotel gardens,
the French Quarter or the city, combined with such modern amenities
as large work desks and ergonomic chairs, high-speed Internet
access, mini bars and room safes. The hotel features 6,000 square
feet of flexible event space, anchored by the elegant, 2,700
square-foot Orleans Ballroom, which can accommodate groups of up to
350. The hotel also offers some of the French Quarter's most
notable cuisine at its three restaurants: Paillard's, the hotel's
new Southern fusion restaurant; Vieux Dieux Brew, a smaller, more
intimate venue in the hotel's lobby; and Napoleon's Itch, an
after-hours lounge that is quickly becoming the hottest addition to
the dynamic nightlife of the French Quarter. About St. Ann Lodging,
LLC The principals of St. Ann Lodging, LLC, Joseph A. Jaeger, Jr.
and Paul H. Flower are native New Orleanians committed to the
recovery of New Orleans and the further strengthening of the New
Orleans hospitality industry. The members of St. Ann Lodging own a
total of seven hotels in the New Orleans market. 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 manage 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, +1-703-387-3320, for Interstate Hotels & Resorts Web
site: http://www.ihrco.com/
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