Interstate Hotels & Resorts (NYSE: IHR), the nation`s largest independent hotel management company, today announced that it has signed four new management contracts.
The properties are the 176-room Hampton Inn Galleria Houston, Texas; the 145-room Courtyard by Marriott Edison-Raritan Center, N.J.; the 128-room AmeriSuites, Shelton, Conn.; and the 123-room Oxford Inn & Suites, Oxford, Miss. The four contracts add nearly 600 rooms to Interstate`s existing management portfolio.
“The current soft economic climate continues to be a catalyst for management changes at a growing number of properties as owners search for ways to improve returns,” said John Emery, president and chief operating officer. “With our proven proprietary operating systems and the economies of scale available because of our size, we continue to take advantage of this window of opportunity and are aggressively seeking to add to our management portfolio.”
Located at 4500 Post Oak Highway, the 176-room Hampton Inn Galleria Houston is situated in the heart of Houston`s popular Galleria/West Loop area, a half-mile from the upscale Galleria Mall. Area attractions include universities, Water World, Six Flags, Astro World, the Houston Zoo, Museum of Fine Arts, and NASA Space Center. Amenities include free breakfast and daily manager`s reception, an exercise room, guest laundry facility, business center, outdoor pool and 1,400 square feet of meeting space. The property is owned by CNL Hospitality, with a minority equity interest held by Interstate Hotels & Resorts.
The 145-room Courtyard by Marriott Edison-Raritan Center, 3105 Woodbridge Blvd., Edison, N.J., is located 20 miles south of Newark International Airport, near Raritan Center, a business park occupied by more than 350 companies. Among the hotel`s amenities are a restaurant/bar, indoor pool, spa and exercise room, valet laundry service and business center. Owned by CNL Hospitality, a REIT, the hotel is the sixth that Interstate manages for CNL.
The 128-suite AmeriSuites hotel, 695 Bridgeport Ave., Shelton, Conn., is nestled between New Haven and Bridgeport, about 60 miles north of New York City. Local demand generators include P.T. Barnum Museum, Trumbull Mall and Yale University. Owned by Florida Capital, the hotel features a free breakfast buffet, 1,050 square feet of flexible meeting space for meetings up to 40 people, an indoor pool, fitness center, laundry facility/valet service and free local transportation.
Located in Oxford, Miss., home of Ole Miss, 80 miles south of Memphis, Tenn., the 123-room Oxford Inn & Suites features plenty of Southern charm as well as 2,600 square feet of meeting space. A complete renovation of guestrooms and public space is scheduled to begin in December. The property is owned by the Chamblee Company and is the company`s second hotel managed by Interstate.
Interstate Hotels & Resorts operates more than 400 hospitality properties with approximately 86,000 rooms in 45 states, the District of Columbia, Canada and Russia, including 55 properties managed by Flagstone Hospitality Management, a subsidiary of Interstate Hotels & Resorts. BridgeStreet Corporate Housing Worldwide, an Interstate Hotels & Resorts subsidiary, is one of the world`s largest corporate housing providers, offering upscale, fully furnished corporate housing throughout the United States, Canada, the United Kingdom, France and 39 additional countries through its network partners.
For more information about Interstate Hotels & Resorts, visit the company`s Web site: www.ihrco.com.