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News and Information Article
Interstate Hotels & Resorts to Manage Newly Flagged Property
ARLINGTON, Va., Nov. 28 /-FirstCall/ -- Interstate Hotels &
Resorts (NYSE: IHR), one of the nations largest independent hotel
management companies, today announced that the under-construction Hotel
Rath in Ashbourne, County Meath, Ireland will become a Marriott hotel under
a new franchise agreement with the owners. Interstate, who signed a
long-term contract in July to operate the property, will manage the new
Ashbourne Marriott. The hotel is scheduled to open in early 2007.
Located within 15 minutes of Dublin International Airport, the
148-room, upscale hotel is owned by a local group of investors that
includes John McCabe of McCabe Builders Ltd; Paddy Kelly, a well-known
local developer; and John Walsh, a private developer.
"When we signed on as the management company, we brought with us strong
relationships with the worlds leading brands," said Thomas F. Hewitt,
Interstate chief executive officer. "We determined that the Marriott flag
was best suited for this property and its location. The combination of our
proprietary management programs and the power of the Marriott brand will
help us optimize results."
"This will be a landmark property in an ideal location for both
business and leisure travelers, at the junction of two major thoroughfares
that link Dublin to Derry and Belfast," said Hank Ciaffone, Interstates
president, international operations and development. "Both traveler groups
are well served by the Marriott brand, with its first-class hotel amenities
and services and 1,000 square meters of meeting space that can accommodate
groups of up to 600. This is the 62nd Marriott property we manage, and we
have a great working relationship with them."
Located in County Meath, north of Dublin, the Ashbourne Marriott also
will serve the nearby suburbs of Swords and Rathoth and is at a convenient
meeting point for travelers from Derry and Belfast.
The full-service property features the Mystic Steak & Seafood
Restaurant, serving three meals a day; a lobby lounge and a modern Irish
Pub, RED; as well as a street cafe serving lighter fare. Recreational
amenities within the Clann, Health and Wellness Club include an indoor
swimming pool and a 1,330- square meter health club with a steam room, a
sauna, plunge pool, three treatment rooms, and a fitness area. Other
amenities include 24-hour room service, a business center, in-room
mini-bar, on-site parking and two retail shops.
Sean Worker, Interstate EVP operations and development, noted that the
convenient location makes the hotel ideal as the place to meet in the
North Dublin corridor. "Marriott is known and respected around the world as
a full- service hotel brand of the highest quality and service standards.
We look forward to serving the complete needs of a diverse mix of
travelers. And our ample meeting space will help us assume a leadership
position with the business meetings and weddings markets, as well."
As of October 31, Interstate Hotels & Resorts operated 232 hospitality
properties with more than 52,000 rooms in 40 states, the District of
Columbia, Canada, and Russia. BridgeStreet Worldwide, an Interstate Hotels
& Resorts subsidiary, is one of the worlds largest corporate housing
providers. BridgeStreet and its network of Global Partners offer
approximately 10,000 corporate apartments located in more than 100 MSAs
throughout the United States and internationally. For more information
about Interstate Hotels & Resorts, visit the companys 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, although not all
forward- looking statements will contain such words. 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, changes in business and
leisure travel patterns or levels, fuel cost, economic conditions generally
and the hotel and real estate markets specifically, international and
geopolitical instability, health concerns, threatened or actual terrorist
attacks, governmental actions, legislative and regulatory changes,
availability of debt and equity capital, interest rates, competition,
weather conditions or natural disasters, changes in supply and demand for
lodging facilities in our current and proposed market areas, and the
Companys 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 as amended for the year ended December 31, 2005.
Contact:
Jerry Daly, Carol McCune (media)
Daly Gray Public Relations
(703) 435-6293
jerry@dalygray.com
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