Interstate Hotels & Resorts Opens New Marriott TownePlace Suites in Albany, New York
2008年10月22日 - 9:30PM
PRニュース・ワイアー (英語)
Adds New Owner, True North Development Group, to Managed Portfolio
ARLINGTON, Va., Oct. 22 /PRNewswire-FirstCall/ -- Interstate Hotels
& Resorts (NYSE:IHR), a leading hotel real estate investor and
the nation's largest independent hotel management company, today
announced that it has opened and will operate the 106-room
TownePlace Suites/Albany Empire State Plaza in New York. The newly
built, extended-stay hotel is owned and was developed by True North
Development Group, Lake Ronkonkoma, N.Y. "This is our first
contract with True North Development Group," said Thomas F. Hewitt,
Interstate's chief executive officer. "It also is our first
TownePlace Suites hotel, bringing to 70 the number of Marriott
branded hotels in our managed portfolio, aggregating more than
13,000 rooms. Including this hotel, Interstate has opened five
under construction properties in 2008 and has management contracts
for an additional 15 currently under development or construction.
It's also our 15th managed hotel in the state, and we believe our
deep knowledge of this market will benefit our new owners. "The
hotel is well located, to appeal to a broad range of business,
government and leisure travelers," he added. "It's a short walk
from Empire State Plaza, one of Albany's prime tourist attractions,
which features the landmark EGG performing arts center and the New
York State Museum, as well as the state capitol building and
government offices. It also is close to the SUNY-Albany campus and
the NanoTech complex. In addition, the extended-stay hotel will
appeal to guests visiting or being treated at any of the numerous
medical facilities nearby, including the Albany Medical Center and
the V.A. Medical Center. We believe that when this new property is
fully ramped up, it will be extremely competitive in this market."
"We wanted this new hotel to get a running start operationally and
selected Interstate because of their vast experience in extended
stay, their size advantages and their proven ability to deliver
solid results in all phases of the economic cycle," said Lee
Browning, Jr., principal, True North Development Group. Located at
22 Holland Avenue, the seven-story, stucco and brick property
features an indoor pool, wired and wireless Internet access,
complimentary parking, a pet-friendly policy, as well as 400 square
feet of total meeting space. Each two-room suite features separate
living and sleeping areas, a fully equipped kitchen, work station
with complimentary Internet access, and premium bedding. Guests
also may enjoy a free continental breakfast in the hotel's
lobby/social area. In addition to the Empire State Plaza, other
nearby education and medical facilities include the Albany Law
School, Albany College of Pharmacy, Albany Medical College,
Wadsworth Laboratories, The Junior College of Albany and St.
Peter's Hospital. About Interstate Hotels & Resorts Interstate
Hotels & Resorts has ownership interests in 57 hotels and
resorts, including seven wholly owned assets. Including these
properties, the company and its affiliates manage a total of 228
hospitality properties with more than 46,000 rooms in 36 states,
the District of Columbia, Russia, Mexico, Belgium, Canada and
Ireland. Interstate Hotels & Resorts also has contracts to
manage 15 to be built hospitality properties with nearly 3,900
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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