Interstate Hotels & Resorts eyes London to expand its UK division
Interstate Hotels & Resorts, one of the leading global hotel management companies has signed 18 management agreements for a portfolio of U.K. hotels owned by an affiliate of Cerberus Capital Management. The 18-hotel portfolio encompasses 2,443 guestrooms consisting of Holiday Inn and Crowne Plaza branded hotels. London forms a major destination for the brand’s expansion plan. The portfolio includes 216-room Holiday Inn Gatwick London Airport and 107-room Holiday Inn London Bexley among others. Fifteen hotels shall see transition into Interstate management upon immediate effect, with three hotels transitioning in the next few months.
Based in Birmingham, England, Interstate's U.K. division presently consists of 59 hotels, including the ones already signed, throughout the United Kingdom. Robert Crook, Managing Director- UK, Interstate Hotels & Resorts says, "The agreement will surge our scale and resources by taking the operational and signed pipeline of hotels to 59 in the U.K. With these new hotels, Interstate is now one of the largest operators of IHG franchised assets in the U.K., managing 40 IHG branded hotels, and raising our total rooms under management to more than 7,300."
Interstate Hotels & Resorts, Inc., is a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging Group and Jin Jiang Hotels. It is one of the leading global hotel management companies, operating branded full- and select-service hotels and resorts, convention centres and independent hotels worldwide. Interstate and its affiliates manage 440 hotels with nearly 80,000 rooms in North America, Europe and Asia-Pacific, including five wholly owned hotels. In addition, Interstate has executed agreements to manage 38 hotels with more than 6,000 rooms under construction or development throughout the world.