ARLINGTON, Va., July 14, 2011—Interstate Hotels & Resorts, the United States’ largest independent hotel management company, today announced that it has been selected to manage six hotels to be developed by NBB-Development in Sochi, a sea and mountain resort area in southwestern Russia and site of the 2014 Winter Olympics. The properties, which will aggregate 1,564 rooms and are expected to open in fall of 2013, comprise a city center business hotel, a golf resort and four hotels in the mixed-use real estate development that is an integral part of the infrastructure of the 2014 Winter Olympics.
“Russia is where we began our international outreach more than 16 years ago,” said Thomas F. Hewitt (middle right photo), Interstate’s chairman and chief executive officer. “These six properties add to our growing European portfolio.
“We pioneered independent third-party management in Russia and currently operate seven significant hotels in Moscow. We believe there are continued opportunities throughout the region and have a full team in place to oversee this expected growth.”
The city and resort area of Sochi is located in the Krasnodar Kray region in southwestern Russia, stretching along the Black Sea coast at the foot of the western part of the main Caucasus mountain range.
The six resort hotels, ranging in size from 150 to 400 rooms, collectively will constitute the majority of the available rooms inventory for a high-quality, mixed-use development that will feature multiple shopping and entertainment facilities, health and spa centers, museums, a conference center and the Museum of the Olympic History and Glory. The development also will feature a wide variety of sports, leisure and recreation activities.
“Interstate has in-depth expertise in operating resorts in a variety of settings, ranging from beach to mountain and desert to island,” said Chris Bennett, managing director, international. “In addition to management upon opening, we will provide technical services and pre-opening oversight during the construction phase.
“This is an exciting project and we look forward to bringing to bear all the advantages of our successful business model, including a solid operating platform, strong local affiliations, cultural expertise and long and positive relationships with the major international hotel brands,” he added.
Additional information about Interstate is available at the company’s website: www.ihrco.com.
Contact:
Jerry Daly, Carol McCune Carrie McIntyre
Media SVP, Treasurer
Daly Gray Interstate Hotels & Resorts
(703) 435-6293 (703) 387-3320
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