Wednesday, December 3, 2008

Interstate Hotels & Resorts Receives Continued Listing Standards Notice from NYSE

ARLINGTON, VA—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent management company, announces that it had received notice from the New York Stock Exchange that its stock had fallen below one of the Exchange’s continued listing standards for common stock.

That standard requires that a stock maintain a minimum average closing price of $1.00 per share over 30 consecutive trading days.

Under NYSE rules, the company has a period of six months, subject to possible extension, to bring its 30-day average share price back above $1.00.

The company’s common stock will continue to be listed on the NYSE during the cure period, subject to compliance with other NYSE continued listing requirements.

The company plans to notify the NYSE that it intends to cure the deficiency. During this six-month cure period, the NYSE will assign a “.BC” to the company’s ticker symbol indicating the company is below the continued listing criteria.

Thomas F. Hewitt (top right photo) is CEO of Interstate Hotels & Resorts.

Interstate Hotels & Resorts has ownership interests in 57 hotels and resorts, including seven wholly owned assets.

Together with these properties, the company and its affiliates manage a total of 227 hospitality properties with approximately 46,500 rooms in 37 states, the District of Columbia, Russia, Mexico, Belgium, Canada and Ireland.

Interstate Hotels & Resorts also has contracts to manage 17 to be built hospitality properties with approximately 4,300 rooms. For more information about Interstate Hotels & Resorts, visit the company’s Web site:

Julie Tullbane, Daly Gray Public Relations, T 703-435-6293. F 703-435-6297,

Carrie McIntyre, SVP, Treasurer, Interstate Hotels & Resorts, (703) 387-3320

Hampton Inn & Suites by Hilton Opens in an Historic Building in Mexico City Center

Historic Casa San Agustin (above) is Hampton’s First Historic Property Outside The U.S.

BEVERLY HILLS, CA (Dec. 3, 2008) – Hampton® Hotels, the international brand of more than 1,600 mid-priced hotels, today announced the grand opening of the Hampton Inn & Suites by Hilton™ Mexico City/ Centro Historico (above centered photo).
The 108-room property is located in a historic building known as “Casa San Agustin” and is a registered historic building in Mexico. The hotel will be operated by Hilton Hotels Corporation under the terms of a multi-year management agreement.

“The opening of this hotel is an exciting day for Hampton Hotels,” said Scott Schrank, (top right photo) vice president, Brand Performance and Support for Hampton Hotels. “Mexico City is a prime location that allows us to continue our international growth strategy within the Hilton Family of Brands.”

“Not only will guests be able to enjoy many historic sites while out and about in Mexico City, but they will also be able to continue their cultural experience with every step taken inside this landmark property,” added Schrank.

“This represents an important milestone for Hampton as we have long been committed to preservation.”

(Metropolitan Cathedral, Mexico City, middle left photo)

Located at Calle 5 de Febrero, the 108-room property features a six-story atrium with stained glass ceiling and a rooftop patio overlooking Centro Historico.
The hotel also offers a fitness center, business center, kids club and meeting rooms. Settled in the heart of Mexico City’s Historic Center (Centro Historico), the hotel is just minutes from the Benito Juarez International Airport as well as downtown Mexico City.

“Guests will enjoy complimentary amenities during their stay, like hot breakfast and high speed internet access, all the while experiencing the friendly service provided by the hotel’s team members.”

The Centro Historico, which was declared a World Heritage Site by the UNESCO in 1987, is the original downtown of Mexico City.

“Whether traveling for business or leisure, guests visiting Mexico City will appreciate the hotel’s historic significance and the price value,” said Ruben Luna, (middle right photo) regional director, international hotel performance support for Hampton Hotels. “Guests will enjoy complimentary amenities during their stay, like hot breakfast and high speed internet access, all the while experiencing the friendly service provided by the hotel’s team members.”

The Centro Historico offers travelers an array of historical landmarks and cultural treasures including the Constitution Square, Metropolitan Cathedral,(top left photo) National Palace, and Templo Mayor - ancient Aztec temple ruins, as well as museums and art galleries.

Mexico City, the capital of Mexico, is one of the world’s largest metropolitan areas and the country’s most important economic, industrial, and cultural center.

About Casa San Agustin

Built in the 1800’s, “Casa San Agustin” is a registered historic building by Bienes Culturales de Mexico, the Instituto Nacional de Antropologia e Hisotria, and the Nacional de Bellas Artes.

Considered an architectural jewel, the building has been used for accommodation purposes since its beginning.

Various restorations have preserved much of the styling and décor of the original exterior façade, including ajarcas- moldings and ornaments that used to be combined with tezontle exteriors during that time.

About Hampton Hotels

Hampton, which includes Hampton Inn®, Hampton by Hilton® and Hampton Inn & Suites® hotels, is a mid-priced leader in the lodging segment.

Hampton is part of Hilton Hotels Corporation, a leading global hospitality company, with more than 3,000 hotels and 500,000 rooms in 74 countries and territories, with more than 135,000 team members worldwide.

The company owns, manages or franchises some of the best known and highly regarded hotel brands including Hilton®, Conrad® Hotels & Resorts, Doubletree®, Embassy Suites Hotels®, Hampton Inn®, Hampton Inn & Suites®, Hilton Garden Inn®, Hilton Grand Vacations™, Homewood Suites by Hilton® and The Waldorf=Astoria Collection™.

The Hilton Family of Hotels adheres to founder Conrad Hilton’s philosophy that, “It has been, and continues to be, our responsibility to fill the earth with the light and warmth of hospitality.”

The company put a name to its unique brand of service that has made it the best known and most highly regarded hotel company: be hospitable®. The philosophy is shared by all brands in the Hilton Family of Hotels, and is the inspiration for its overarching message of kindness and generosity.
For more information about Hampton Hotels, please visit


Lucia Sanmiego, Public Relations Director, HHC-Mexico,, (52-55) 52-55-1490

Sheryl Shelton, Manager, Brand Communications, Hampton Hotels,, 1-901-374-6383

Chris Daly, Vice President, Daly Gray Public Relations, ph: 703-435-6293,

HFF arranges senior loan for Hyatt Regency Sarasota in Sarasota, FL

MIAMI, FL – The Miami and Pittsburgh offices of HFF (Holliday Fenoglio Fowler, L.P.) have arranged a senior loan for the Hyatt Regency Sarasota, (top left photo) a 294-room hotel in Sarasota, Florida.

Working exclusively on behalf of The Blackstone Group, senior managing director Dan Peek and director Terri Echarte (bottom left photo) of HFF Miami and managing director Mark Popovich (middle right photo) of HFF Pittsburgh placed the two-year, adjustable-rate loan with Bank of America.

The loan, which has two one-year extension options, is being used to recapitalize the asset following a complete property renovation in 2007/2008.

Located at 1000 Boulevard of the Arts, the Hyatt Regency Sarasota is directly on Sarasota Bay close to the beaches of Lido Key, Longboat Key and Siesta Key as well as popular tourist attractions including St. Armand’s Circle and the Van Wezel Performing Arts Hall.

The property is a full-service hotel with 23,000 square feet of meeting space, 354 parking spaces and a 32-slip marina.

“The Hyatt Regency Sarasota is positioned within its competitive set as the premier upper-upscale property in the downtown submarket. No new hotels are planned or under construction in the area therefore ensuring the Hyatt stays at the top of this submarket,” said Peek.

Blackstone is a leading global alternative asset manager and provider of financial advisory services listed on the New York Stock Exchange (ticker symbol BX) with total assets under management of $116.3 billion as of September 30, 2008.


Daniel C. Peek, HFF Senior Managing Director, 305 448 1333,

Mark Popovich, HFF Managing Director, 412 281 8714,

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990,

HFF arranges $13.7M financing for 147 Milk Street in Boston’s Financial District

BOSTON, MA – The Boston and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) have arranged $13.7 million in financing for 147 Milk Street, (top right photo) a 52,337-square-foot medical office building in Boston’s Financial District. (bottom right photo)

Working exclusively on behalf of the borrower, an affiliate of Lexington Realty Trust, HFF senior managing director Todd Armstrong (top left photo) and director Janet Krolman (middle right photo) placed the fixed-rate loan with Delaware Investments.

The first mortgage financing will also be serviced by HFF. Lexington Realty Trust is a self-managed and self-administered real estate investment trust that invests in, owns and manages a geographically diverse portfolio of single-tenant net leased office, industrial and retail properties.

147 Milk Street is located on the corner of Batterymarch and Milk Streets close to the red, blue and orange MBTA subway station lines in Boston’s Financial District.

Originally built in 1910 and renovated in 1984 for medical office use, the 10-story property is fully leased to Harvard Vanguard Medical Associates, Inc.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.


Todd G. Armstrong, HFF Senior Managing Director, 214 265 0880,

Janet N. Krolman, HFF Director, 617 338 0990,

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990,

Tanger Outlets Appoints Steven B. Tanger President and Chief Executive Officer

Founder, Stanley K. Tanger Remains Chairman of the Board

GREENSBORO, NC-- Based on the recommendation of Stanley K. Tanger, (top left photo) the company’s Founder, Tanger Factory Outlet Centers, Inc. (NYSE:SKT) announced a new executive leadership structure to position the company for continued growth in the years to come.

Effective January 1, 2009, Steven B. Tanger, (top right photo) the company’s President and Chief Operating Officer since January 1995, will become President and Chief Executive Officer. Stanley K. Tanger will remain as Chairman of the Board.

“Steven and I will both be assuming new roles, which represent the next phase in our company’s evolution,” Stanley Tanger stated.

“I am pleased that since founding the company in 1981, Tanger Outlets has grown into a strong, resilient company capable of delivering consistent growth and profitability. It has been an honor to serve our shareholders, our employees and Board of Directors as CEO. I am confident in our company’s future and I look forward to being part of a seamless transition.”

Jack Africk, lead director of the company’s Board of Directors said, “As an industry pioneer and founder of the company, Stanley Tanger has 27 years of service at Tanger Outlets, including the past 15 years as CEO of a NYSE company.

"His in-depth knowledge of Tanger and the outlet industry, along with his bold, charismatic leadership style, allowed him to lead the company to outstanding and consistent returns throughout his tenure.

"Ensuring a smooth transition is one of the foremost responsibilities of the Board of Directors and with that in mind, our Board has worked closely with Stanley and Steven on a planned management succession for several years.”

Commenting on his appointment, Steven B .Tanger said, “I am extremely honored by the Board’s confidence in me, and I look forward to continuing to work with Stanley as we have done for 22 years.

"We share the same vision for Tanger Outlets future and in our culture as the foundation of our success and future growth. I am excited by the opportunity to serve our Company in this new leadership position, as we work together to continue Tanger’s strong performance record.”

Steven B. Tanger, 59, is a Director of the Company and was named President and Chief Operating Officer effective January 1, 1995.

Previously, he served as Executive Vice President since joining the Company in January 1986. He is a graduate of the University of North Carolina at Chapel Hill and completed the Executive Program at the Stanford University School of Business. He is the son of Stanley K. Tanger.

Tanger Factory Outlet Centers, Inc, (NYSE:SKT) a publicly traded REIT, presently has ownership interests in or management responsibilities for 33 outlet centers in 22 states coast-to-coast, totaling approximately 10.2 million square feet, leased to over 2,200 stores that are operated by over 400 different store brands. For more information call 800-4-TANGER or visit

Contact: Frank C. Marchisello, Jr. (336) 834-6834

Starwood's Le Meridien Brand Opens First Five-Star Resort on China's Hainan Island

HAINAN, CHINA, Dec. 1, 2008 – Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced the opening Le Méridien Shimei Bay Beach Resort & Spa. (hotel lobby, top right photo)

Le Méridien Shimei Bay Beach Resort & Spa is the first five-star resort to open in Wanning City on China’s Hainan Island.(bottom right photo)

Owned by China Resources (Holdings) Co., Ltd., this magnificent property boasts an idyllic setting on more than three miles of pristine, white sandy beach with majestic views of the South China Sea.

Surrounded by lush forest, the resort features 275 luxurious guest rooms, including 25 villas, all with private balconies overlooking either the sea or the mountains.

“We are very excited to open in Shimei Bay, which is a new destination for the traveler to discover on Hainan Island, and will become a stunning option for our sophisticated, forward-thinking guests.

"We are committed to providing them with an interactive and a culturally enriching experience”, Mr. Terry Ko, (middle left photo) General Manager remarked.

Le Méridien brand, currently represented by approximately 110 properties in 50 countries, was acquired by Starwood Hotels & Resorts Worldwide, Inc. in November 2005.

With close to 80 percent of its properties located in Europe, Africa, the Middle East, and Asia-Pacific, Le Méridien provides a strong international complement to Starwood’s primarily North American holdings.

Plans call for dynamic expansion of Le Méridien-branded hotels and resorts within the next five years, concentrating in the U.S., Latin America, and Asia-Pacific, including destinations such as India, Thailand and China.


Hwee-Peng Yeo
Director, Corporate Communications
Starwood Asia Pacific Hotels & Resorts Ltd
9 Temasek Boulevard, Suntec City Tower 2
#24-02, Singapore 038989

Tel : +65 6335 4837; Cell : +65 9768 6087; +65 9248 0424
Fax : +65 6335 4820;