Interstate Hotels & Resorts
Virginia based Interstate Hotels & Resorts is a subsidiary of Maryland based Thayer Lodging Group. It operates in two sectors, hotel management and hotel ownership.[1] Interstate traces it roots to 1961. The company today is the result of several mergers involving other hotel management and ownership companies.
Hotel management
Interstate manages a profile of up-scale, full-service and premium select service hospitality properties. Also, the company provides ancillary services in the hotel, resort, conference center and golf markets, including insurance and risk management services, purchasing and project management services, information technology and telecommunications services, and centralized accounting services. Per its website on 8/1/11, "As a leading hotel real estate investor, Interstate has ownership interests in 56 of its managed hotels and resorts, including six wholly owned assets."
Hotel ownership
As of March 1, 2007 the company owned four full-service hotels and one select-service hotel and also owns equity interests, ranging range from 5% to 50%, in 17 hotels located throughout the United States through 11 joint ventures.[1] Interstate Hotels & Resorts is the leading U.S.-based global hotel management company. Hotel owners, developers operating more than 380 hotels with 72,000 rooms located throughout the U.S. and around the world. "The company is a wholly owned subsidiary of a joint venture between subsidiaries of Thayer Lodging and Jinjiang International", according to the IHR website.
References
- 1 2 "Interstate Hotels & Resorts Inc IHR (NYSE)". Reuters. Retrieved 2008-03-26.