WASHINGTON—March 11, 2003—Interstate Hotels & Resorts (NYSE: IHR), the nation`s largest independent hotel management company, today announced that The Creeks at Beechwood Hotel in Alliance/Fort Worth, Texas, will be renamed Doral Tesoro Hotel & Golf Club. The Doral name is owned by Interstate Hotels & Resorts, which manages the 286-room luxury complex under a 10-year management agreement.
“This is our sixth Doral property and a worthy addition to our hotel and golf portfolio,” said John Emery, Interstate`s president and chief operating officer. “The property, which opened in October 2001, was built to highest facility standards. Since we assumed management in October 2002, we have integrated our proprietary management and marketing programs into the property. Doral`s multi-level property distribution system, which greatly simplifies and speeds the booking process, should help generate additional business.”
Emery noted that the next major project is a nearly $2 million upgrade of the property`s championship golf course. “Golf is a core pillar of the Doral brand, and we expect the renovation will put this course on a par with some of the most desirable courses in the country. Plans call for elevating many of the greens, improving drainage and making other upgrades that will enhance the playing experience. Jay Morrish, a nationally recognized golf course designer, has been retained for the project. The course, which was closed on February 28, is expected to reopen in October 2003.”
In addition to the golf course, the property features a full range of luxury amenities, including pillow-top mattresses, cordless phones, large work desks, cable TV with on-demand movies, Starbucks coffee, in-room safe, voice mail and data ports. The property also houses 22,000 square feet of sophisticated meeting and event space, including 14 rooms with a full range of conference facilities. A 9,000 square foot ballroom seats up to 900. The hotel features 24-hour room service and a restaurant and a lounge.
Just 20 minutes from DFW Airport, the Doral Tesoro is located within two miles of the Alliance Development, a commercial business park that is home to a large number of Fortune 500 companies. Alliance Airport, the world`s first master-planned industrial airport, serves both general and industrial aviation and is the cornerstone of the fast-growing industrial complex. Also nearby is Texas Motor Speedway, the nation`s second largest sports facility, which attracts thousands of visitors to the area annually for a variety of activities, including NASCAR-sanctioned events, racing schools, auto shows and car club meetings.
The name Tesoro means “treasure” in Spanish and refers to a local legend about the city`s founding fathers burying gold in the Fort Worth area that was never found.
Doral Conference Centers, Hotels & Resorts is a collection of premier destinations renowned for their upscale accommodations, IACC-certified facilities, superior recreation and impeccable service. Doral is dedicated to creating an environment for relaxation, the accomplishment of business objectives and effective learning experiences. For more information about Doral visit the brand`s Web site, www.doral.com.
Doral is a hotel/resort/conference center brand name owned by Interstate Hotels & Resorts, which operates approximately 400 hospitality properties with nearly 86,000 rooms in 44 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.