Interstate Hotels & Resorts closes deal to acquire 83 property management agreements

Interstate Hotels & Resorts, a U.S.-based global hotel management company announced that it has closed on the acquisition of the management agreements of 82 premium-branded, select- and full-service hotels, plus one restaurant, from White Lodging effective January 24, 2018.

"A transaction of this nature aligns well with our growth strategy and we're excited with the direction this new expansion is taking us," said Michael Deitemeyer, Interstate's president & CEO. "We've gained high-quality hotels under long-term management agreements, and increased our depth of talent with valued and experienced leadership teams."

Interstate is to welcome 2,500 new associates, 78 select-service, and four full-service properties under iconic lodging brands including Marriott, Hyatt, and Hilton into its portfolio.

For more information on Interstate Hotels & Resorts, visit www.InterstateHotels.com.

Source: Interstate Hotels & Resorts

Representative image courtesy: © Interstate Hotels & Resorts; All rights reserved.