Interstate Hotels & Resorts Opens New Marriott TownePlace Suites in Albany, NY

ARLINGTON, VA—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent hotel management company, has opened and will operate the 106-room TownePlace Suites/Albany Empire State Plaza (top right photo) in New York.

The newly built, extended-stay hotel is owned and was developed by True North Development Group, Lake Ronkonkoma, N.Y.

“This is our first contract with True North Development Group,” said Thomas F. Hewitt, (middle left photo) Interstate’s chief executive officer.

“It also is our first TownePlace Suites hotel, bringing to 70 the number of Marriott branded hotels in our managed portfolio, aggregating more than 13,000 rooms.

" Including this hotel, Interstate has opened five under construction properties in 2008 and has management contracts for an additional 15 currently under development or construction.

"It’s also our 15th managed hotel in the state, and we believe our deep knowledge of this market will benefit our new owners."

“We wanted this new hotel to get a running start operationally and selected Interstate because of their vast experience in extended stay, their size advantages and their proven ability to deliver solid results in all phases of the economic cycle,” said Lee Browning, Jr., principal, True North Development Group.

The seven-story, stucco and brick hotel is located at 22 Holland Ave.

Contacts:

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

Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297 julie@dalygray.com