Interstate Hotels & Resorts to Manage Jackson Shaw's Hampton Inn Tropicana
2008年10月15日 - 9:30PM
PRニュース・ワイアー (英語)
Second Contract Expands Interstate/Jackson-Shaw Relationship in Las
Vegas ARLINGTON, Va., Oct. 15 /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 is now managing the
322-room and suite Hampton Inn Tropicana and adjacent Southwest
Event Center in Las Vegas, Nev. It is the largest Hampton Inn among
the brand's more than 1,600 hotels worldwide. The property, which
recently completed a major refurbishment of all guestrooms, public
spaces, pool and cabanas, is owned by Jackson-Shaw, a national real
estate developer. "This is our second Las Vegas property with
Jackson-Shaw, for whom we also manage the 548-room Renaissance Las
Vegas," said Thomas F. Hewitt, chief executive officer. "Despite
the current economic slowdown, Las Vegas remains a major travel
destination, attracting more than 36 million tourists annually. The
hotel's adjoining event center adds an important dimension to the
property, which has become a popular venue for business meetings,
weddings and other local social events. We believe this contract
demonstrates Jackson- Shaw's confidence in our ability to deliver
excellent results at major urban properties." "In such a
challenging economic environment, Interstate, with its size
advantages and depth of experience with the full range of hotel
products and market segments, was a logical choice," said
Christopher Sheldon, vice president of hotel operations at
Jackson-Shaw. "They've already produced excellent results for us
this year at our full-service Renaissance Las Vegas, and we're
confident they can duplicate that success at the Hampton Inn
Tropicana." Located at 4975 Dean Martin Drive, a short walk from
the fabled Las Vegas Strip lined with colossal mega casinos, the
hotel is two miles from McCarran International airport and close to
the UNLV campus and Thomas & Mack Center, the Fashion Show Mall
and the Sands Convention Center, and the Las Vegas Convention
Center. The renovated property features a full roster of
complimentary services and amenities, including Hampton's free
"On-the-House" hot breakfast, free high-speed Internet, and 24-hour
airport transportation. Hotel amenities include a Lagoon swimming
pool and waterfall, whirlpool spa, sun deck and cabanas, a fully
equipped business center, and a 24-hour fitness center. The Hampton
Inn Tropicana and adjoining Southwest Event Center provide a total
of 10,000 square feet of flexible meeting and event space. The
hotel can accommodate groups of up to 180 and offers full catering
services and state-of-the-art audio/visual. The event center can
accommodate larger meetings of up to 300 people, and can be
configured as one grand conference room, a split conference room, a
reception foyer, and an outdoor patio. "We have added more than 50
management contracts to our portfolio this year, and we will
continue on our path towards helping owners optimize returns,
particularly in this challenging economic climate," said Leslie Ng,
Interstate's chief investment officer. About Jackson-Shaw
Jackson-Shaw, a national real estate development company
headquartered in Dallas, Texas, has more than 37 years of
experience in the development of diversified real estate
properties. The company has completed more than 38 million square
feet of development since its founding in 1971. Today, Jackson-Shaw
focuses its development activity on a variety of project types,
including office, industrial, mixed use, hospitality and
residential. The company's consistent goal is to increase and
enhance values in real property assets for both its clients and
capital partners. Jackson-Shaw developed and opened the Hampton Inn
Tropicana in 2000. The firm's portfolio also includes the 550-room
Renaissance Las Vegas, three Marriott-branded properties in the
Dallas area (two of the properties will open in April 2009, and one
is currently under development) and one Hilton- branded property
under development in Jacksonville, Fla. About Interstate Hotels
& Resorts Interstate Hotels & Resorts has ownership
interests in 57 hotels and resorts, including seven wholly owned
assets. Together with these properties, the company and its
affiliates manage a total of 227 hospitality properties with
approximately 46,500 rooms in 37 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 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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