Monday, July 20, 2009

Interstate Hotels & Resorts Signs Contract to Manage Holiday Inn Laredo Civic Center in Texas

ARLINGTON, Va., July 20, 2009—Interstate Hotels & Resorts (OTC: IHRI), a leading hotel real estate investor and the nation’s largest independent management company, today announced that the company has signed an agreement to manage the Holiday Inn Laredo Civic Center (top left photo) in Texas.

The 203-room property is owned by BIA Acquisitions, a Texas-based limited partnership.

“This is a well-known landmark property located in one of the fastest growing cities in the U.S.,” said Thomas F. Hewitt, (bottom right photo) chairman and chief executive officer.

“This is our first contract with this owner, and we look forward to helping this unique property further expand its appeal to business and leisure travelers. We remain focused on our core management business and continue to see a steady pace of opportunities for new management contracts.”
Located at 800 Garden Street in downtown Laredo, the Holiday Inn Laredo Civic Center is centrally located and houses one of the finest restaurants in Laredo, the Terraza Verde Restaurant.

The 14-story, high-rise, full-service property is equipped with a business center and offers free wireless Internet access throughout the hotel. Other hotel amenities include a fitness facility and a cocktail lounge bar with live entertainment.

The Holiday Inn Laredo Civic Center features six meeting rooms, three of which convert into a grand ballroom, and can accommodate groups of up to 300 people.

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

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