Interstate Hotels & Resorts expands UK property portfolio

Interstate Hotels & Resorts expands UK property portfolio

Hotel management firm signs contracts for 18 additional properties

Hotel management firm signs contracts for 18 additional properties

Interstate Hotels & Resorts has confirmed the signing of 18 management agreements for a portfolio of UK hotels owned by an affiliate of Cerberus Capital Management. How long will the hotel reception desk last?

Based in Birmingham, Interstate’s UK division now comprises 59 hotels.

“The UK continues to be a priority strategic growth area for Interstate, and it is gratifying to see our portfolio expand in the region through a new relationship with a world-class owner,” said Jim Abrahamson, chief executive officer of Interstate Hotels & Resorts.

The 18-hotel portfolio comprises 2,443 guestrooms, consisting of Holiday Inn and Crowne Plaza-branded hotels. Fifteen hotels will transition to Interstate management upon immediate effect, with three hotels transitioning in the next few months. Thirteen of the hotels also have Spirit & Health Fitness Clubs.

The portfolio includes the 216-room Holiday Inn Gatwick London Airport, 202-room Holiday Inn Reading South, 188-room Holiday Inn Leicester, 158-room Holiday Inn Coventry and 107-room Holiday Inn London Bexley.

“As part of our strategic expansion, we’re building upon our global relationships, such as with highly regarded investor Cerberus Capital Management, whom we’ve known through their US-based headquarters,” said Leslie Ng, chief investment officer of Interstate Hotels & Resorts. “We look forward to exploring other opportunities together in the UK and Europe.”

Gary Marshall
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Gary Marshall
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