Interstate Hotels & Resorts Extends Senior Credit Facility to March 2012

ARLINGTON, VA—Interstate Hotels & Resorts (OTC: IHRI), a leading hotel real estate investor and the nation’s largest independent management company, has extended the maturity of its senior credit facility to March 2012 by converting the facility’s outstanding balance of $161.2 million to a new term loan.

Banc of America Securities LLC was sole lead arranger and sole book runner and Bank of America, N.A. is the administrative agent.

“Bank of America did a tremendous job leading this credit facility amendment, and we really appreciate the continued support of all 10 of our credit facility lenders,” said Bruce Riggins, chief financial officer. “This credit facility extension provides us much greater flexibility to execute our business plan through the current recession and positions us to emerge a stronger company as the industry recovers. We expect to be in compliance with all financial covenants for 2009.”

Contact: Carrie McIntyre, SVP, Treasurer, (703) 387-3320