Arlington, Virginia-based Interstate Hotels & Resorts announced it has acquired management of a 20-hotel portfolio from Gateway Hospitality Group for an undisclosed sum.
ARLINGTON, Virginia, March 2, 2018 -- Interstate Hotels & Resorts - the leading U.S.-based global hotel management company - announces it has acquired the management platform from Gateway Hospitality Group. The 20-hotel portfolio will be operated under Interstate Gateway Management LLC, a subsidiary of Interstate Hotels & Resorts, with founder Bob Voelker and partner Ron Hutcheson joining Interstate in executive-level asset management and owner relations responsibilities for this portfolio.
Gateway has a long track history of developing and managing high quality hotels throughout the United States. "We're delighted to be part of Interstate going forward," said Bob Voelker. "Interstate's high quality operations and industry-leading platforms create value-add opportunities for our owners."
Aggregating to 2,544 rooms, the portfolio includes premium select-service properties under top lodging brands including Hilton and Hyatt in addition to two luxury boutique hotels located in five states and the District of Columbia.
"As we continue a strong growth trajectory, our successful operating strategy combining economies of size with the deployment of regionally-focused operations teams brings tremendous value to our hotel owners and investors," said Mike Deitemeyer, Interstate's president and CEO. " We anticipate generating superior returns for the respective owners of this portfolio through our management acumen, scale, and industry-leading financial and operating systems."
Added Leslie Ng, Interstate's chief investment officer: "Along with gaining a high-quality portfolio of hotels and top talent with this transaction, we look forward to building on new relationships with an expanded client base."
A global leader in third-party hotel management, Interstate Hotels & Resorts' depth of experience across all lodging segments and asset classes drives results in each of its managed hotels worldwide. For more information on Interstate Hotels & Resorts, visit www.InterstateHotels.com.
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