Interstate Hotels & Resorts Adds Four Hyatt Place Hotels to Managed Portfolio
2008年8月5日 - 9:30PM
PRニュース・ワイアー (英語)
ARLINGTON, Va., Aug. 5 /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
agreements to manage four Hyatt Place hotels in Texas. The former
AmeriSuites hotels were converted to Hyatt Place hotels in December
2007 by the ownership group, FFC Capital Corporation, with whom
Interstate has a long-standing relationship. The hotels,
aggregating 513 rooms, are the first Hyatt Place hotels Interstate
will manage. They include the Hyatt Place Hotel Austin Arboretum,
Texas (127 rooms); Hyatt Place Hotel Grand Prairie, Texas (134
rooms); Hyatt Place Hotel Houston/Greenspoint, Texas (126 rooms);
and Hyatt Place San Antonio Airport-South, Texas (126 rooms). "With
these four contracts, we continue to expand our relationship with
FFC Capital, for whom we now manage 29 properties," said Thomas F.
Hewitt, Interstate's chief executive officer. "The addition of the
Hyatt Place brand to our portfolio allows us to establish a new
relationship with another major hotel franchisor, a relationship we
look forward to building on. The properties are located in four
major Texas markets that have held up well in these challenging
economic times -- Dallas, Houston, Austin and San Antonio. Together
with the 22 properties we already manage in the state, we expect to
take advantage of operating synergies and purchasing economies of
scale." "We value our relationship with Interstate and have the
utmost confidence in their ability to maximize results at these
newly rebranded hotels," said Fred Branovan, president of FFC
Capital Corporation. "Hyatt Place is a leading lifestyle hotel
brand and plays to Interstate's proven strength in the upscale
select service segment." With more than 100 properties expected to
open by the end of the year, Hyatt Place was inspired by the
changing landscape of contemporary, multi- tasking business
travelers and offers an atmosphere of casual hospitality with a
balanced mix of comfortable and functional amenities. In addition
to free wireless connectivity throughout the hotel, guestrooms
feature 42-inch flat panel televisions, an oversized desk and
ergonomic chair, the signature Hyatt Grand Bed(TM), and the
facilities to allow guests to integrate laptops, DVD players, and
MP3 players with the high-definition TVs. A complimentary hot/cold
breakfast buffet is available. Hyatt Place offers Starbucks Coffee
and has fresh food available made to order, 24 hours a day. 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 Interstate Hotels & Resorts has ownership interests
in 56 hotels and resorts, including seven wholly owned assets.
Together with these properties, the company and its affiliates
manage a total of 223 hospitality properties with approximately
46,000 rooms in 36 states, the District of Columbia, Russia,
Mexico, Belgium, Canada and Ireland. 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 (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/
http://www.ffccapital.net/
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