Interstate Hotels & Resorts and The John Buck Company Open First U.S. aloft Hotel
2008年6月21日 - 12:20AM
PRニュース・ワイアー (英語)
aloft Ontario-Rancho Cucamonga Developed in Joint Venture
Partnership, First in a Series of aloft Hotels JV Will Build
ARLINGTON, Va., June 20 /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 opened and will
operate the first aloftsm hotel in the U.S., in Rancho Cucamonga,
Calif., near Ontario. The 136-room, newly built hotel is owned by a
joint venture in which Interstate and The John Buck Company (TJBC)
of Chicago, Ill., a real estate development firm, are partners. It
is the first in a series of aloft hotels slated for development by
the partnership over the next several years, with the second
scheduled to open in suburban Nashville this September. TJBC
oversees development of the hotels for the partnership. aloft is
Starwood Hotels & Resorts' new premium, select-service hotel
brand designed to appeal to a new generation of business and
leisure travelers, featuring high design at an affordable price
point, accessible technology, style and a social atmosphere. "The
aloft Ontario-Rancho Cucamonga is part of our growth strategy to
develop hotels through joint ventures, which creates significant
embedded growth as we ramp them up," said Thomas F. Hewitt,
Interstate's chief executive officer. "As the world's largest
third-party management company, we are honored to be opening the
first aloft in the United States and to add this exciting new brand
to our management/joint ventures portfolio. We're confident that we
can deliver the same kind of superior service and memorable guest
experience that have earned us consistently superior guest
satisfaction scores and RevPAR results." "aloft is a much
anticipated brand that we believe will change the face of the
premium, select-service sector, and we are delighted to be
introducing it in the U.S.," said Paul Novak, TJBC's managing
director, hospitality division. "Our second aloft in Cool Springs
outside of Nashville is on schedule for a September opening, and we
have additional aloft hotels at various stages in the development
pipeline. We continue to look for other opportunities for this
cutting-edge brand." Located off Highway 10, at the northwest
corner of 4th Avenue and Haven, the 136-room aloft is part of a $60
million master-planned, mixed-use development called HavenPark,
near Ontario Airport and the Ontario Convention Center. The just
completed development features 150,000 square feet of Class A
office space, 22,000 square feet of retail space, a free-standing,
full-service restaurant and the aloft hotel. "The aloft development
partnership is a continuation of our joint venture growth strategy
that allows us to benefit from the advantages of real estate
ownership," said Leslie Ng, chief investment officer of Interstate.
"We expect this brand to quickly gain broad market acceptance and
achieve strong operating margins. We further believe that the aloft
brand will be a significant addition to this competitive sector of
our industry." About aloft An instant hit in the development
community, the first aloft hotels are scheduled to open in summer
2008. The aloft brand has already announced more than 90
development projects, in more than 10 countries. In 2009, the aloft
brand will continue its momentum with the opening of more than 50
hotels broadening the international footprint and domestically
positioning aloft hotels in markets previously under penetrated.
Following the U.S. debut of this aloft hotel in Rancho Cucamonga,
Calif., several others are scheduled to open shortly in Chicago
O'Hare, Ill., Minneapolis, Minn., Philadelphia Airport, Pa.,
Lexington, Mass., Rogers-Bentonville, Ark., as well as Beijing,
China. Scheduled to open in 2009 are aloft Brooklyn, N.Y., Denver
International Airport, Col., Dallas, Texas, Atlanta, Ga., Las
Vegas, Nev. and Toronto, Canada. For more information on aloft
hotels, visit http://www.alofthotels.com/. About The John Buck
Company Founded in 1981, The John Buck Company offers comprehensive
real estate services in the areas of development, finance,
investment brokerage, project leasing, tenant representation,
marketing and management, as well as construction for commercial,
mixed-use and residential properties. The international,
employee-owned firm is headquartered in Chicago. For additional
information on The John Buck Company, please visit the company's
website at http://www.tjbc.com/. About Interstate Hotels &
Resorts As of today, Interstate Hotels & Resorts has ownership
interests in 55 hotels and resorts, including seven wholly owned
assets. Together with these properties, the company and its
affiliates manage a total of 220 hospitality properties with over
45,500 rooms in 36 states, the District of Columbia, Russia,
Mexico, Belgium, Canada, and Ireland. In addition, Interstate
Hotels & Resorts also has contracts to manage 16 to be built
hospitality properties with approximately 3,800 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, Interstate (703) 387-3320 Paul Novak Managing Director,
The John Buck Company DATASOURCE: Interstate Hotels & Resorts
CONTACT: Carrie McIntyre, SVP, Treasurer, Interstate,
+1-703-387-3320, or Paul Novak, Managing Director, The John Buck
Company, Web site: http://www.alofthotels.com/ http://www.tjbc.com/
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