Interstate Hotels & Resorts Announces Management of a Portfolio of Eight Upper Tier Full-Service Hotels
Interstate Hotels & Resorts today announced it has transitioned management of an eight-hotel portfolio owned by an affiliate of Investcorp International, Inc., a leading provider and manager of alternative investment products. The portfolio aggregates to 2,096 rooms and consists of one Hilton, five DoubleTree by Hilton hotels, one Marriott and one Sheraton located throughout the United States.
?It is extremely gratifying to earn new business from an existing owner,? said Jim Abrahamson, Interstate?s chief executive officer. ?Our depth of experience operating upper upscale hotel brands will enable us to maximize Investcorp?s investment in these outstanding hotels.?
?Most are located in markets where Interstate already has a strong presence and extensive market experience, creating economies of scale that will benefit each property?s bottom line,? said Leslie Ng, Interstate?s chief investment officer. ?We look forward to building on our?relationship with Investcorp and for further opportunities to work with them.?