Interstate Europe secure deal to manage 18 hotels
The UK division of hotel management company Interstate Europe has signed an agreement to operate a portfolio of 18 properties owned by Cerberus Capital Management.
The 18 Cerberus hotels, which feature a total of 2,443 bedrooms, are all operated under brands from InterContinental Hotels Group (IHG) - 17 Holiday Inns (including the Holiday Inn Edinburgh City West, pictured here) and the Crowne Plaza Leeds.
Interstate Europe is a division of US-based Interstate Hotels & Resorts, which is a 50/50 joint venture between subsidiaries of Thayer Lodging Group and Jin Jiang Hotels.
Jim Abrahamson, chief executive officer of Interstate Hotels & Resorts, said that the UK is "a priority strategic growth area" for the company, which aims to increase profitability and optimise asset value for clients.
Robert Crook, Interstate's managing director for the UK, added: "With these new hotels, Interstate is now one of the largest operators of IHG franchised assets in the UK, managing 40 IHG branded hotels, and raising our total rooms under management to more than 7,300."
Worldwide, Interstate manages 440 hotels with nearly 80,000 rooms.
