Interstate Hotels & Resorts to Manage Crowne Plaza New Orleans International Airport
2008年5月29日 - 10:30PM
PRニュース・ワイアー (英語)
Former Holiday Inn Select Kenner to be Reflagged Following $26
Million Renovation ARLINGTON, Va., May 29 /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 292-room Crowne Plaza New Orleans
Airport in Kenner, La. The former Holiday Inn Select Kenner, which
has been closed since Hurricane Katrina, has been undergoing a
major, $26 million renovation, and is scheduled to reopen this
October as the Crowne Plaza New Orleans Airport. "The addition of
this management contract to our portfolio continues the upward
trend in new contracts we've seen for the past few quarters," said
Thomas F. Hewitt, chief executive officer. "It is also our fourth
New Orleans property with MCC Real Estate and Development, LLC, a
major New Orleans-based hotel investor. This demonstrates their
confidence in Interstate's ability as their hotel operator of
choice. "New Orleans continues to show encouraging signs of
recovery, and we are optimistic about the area's continued economic
renaissance," Hewitt added. "The hotel's exceptional location less
than a mile from the New Orleans International Airport, coupled
with the complete renovation of its guest rooms and public space,
will enable the property to quickly assume a prominent position
among its peers in the marketplace." Located at 2829 Williams
Boulevard, Kenner, La. the hotel is a half-mile from the airport
and within a mile of the Ponchartrain Convention Center, a
flexible, multi-purpose event venue with more than 61,000 square
feet of meeting space. The multi-million renovation will touch
virtually every area of the hotel, including all guestrooms and all
public areas. Approximately 7,000 square feet of new ballroom space
will be created, bringing the total meeting space to 12,000 square
feet. The restaurant space is being totally revamped with a new
full-service restaurant that will serve local cuisine made with
fresh, indigenous products. Other upgrades include a new outdoor
pool area and a state-of-the-art fitness center. "One of our most
reliable sources of new management contracts is current owners, and
our ability to deliver results has been instrumental in helping us
build a successful relationship with this ownership group," said
Leslie Ng, chief investment officer. "As an operator, Interstate
offers so many advantages, including their size and experience with
the complete spectrum of hotel types," said Joe Jaeger, a partner
in the hotel's ownership group. "They have produced excellent
results for us under challenging circumstances, and we look forward
to further expanding our relationship." As of today, Interstate
Hotels & Resorts has ownership interests in 54 hotels and
resorts, including seven wholly owned assets. Together with these
properties, the company and its affiliates manage a total of 217
hospitality properties with over 45,000 rooms in 36 states, the
District of Columbia, Russia, Mexico, Belgium, Canada, and Ireland.
Interstate Hotels & Resorts also has contracts to manage 17 to
be built hospitality properties with approximately 4,000 rooms. 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, 2007. 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.ihrco.com/
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Interstate Hotels (NYSE:IHR)
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