ARLINGTON, VA, Nov. 11, 2011—Interstate Hotels & Resorts, the United States’ largest independent hotel management company, today announced that it has entered into a long-term management agreement for the 136-room Four Points by Sheraton Kecskemét, located in central Hungary.
(Downtown Kecskemet top left photo)
The hotel is being developed as part of a mixed-use redevelopment of an existing office block by KÉSZ Industrial Park Real Estate Management LLC., a division of KÉSZ Holding Zrt, Hungary’s largest building construction and development company.
The Four Points by Sheraton Kecskemét, anticipated to open in 2013, is Interstate’s first Eastern European hotel and represents Interstate’s entrance into its 10th country outside of the United States. In addition to managing the hotel upon completion, Interstate will provide pre-opening and technical services to assist in construction planning, design and FF&E.
“This contract, our 28th in Europe, demonstrates that our business model translates well in any part of the world,” said Thomas F. Hewitt (middle right photo), Interstate’s chairman and chief executive officer. “We have the size, scale and management depth to support this rapid, global expansion.”
“We are delighted to have this opportunity with a new owner,” said Jim Abrahamson (lower left photo), Interstate’s president and COO. “In addition, Kecskemét is attracting tremendous investment and the city is a gateway to future development in this rapidly emerging economy. The market has significant upside potential, and the Four Points by Sheraton Kecskemét will be perfectly positioned to serve the needs of this developing area.”
For information regarding opportunities in Europe, contact Interstate’s Senior Vice President, Development-Europe, Aaron Greenman, aaron.greenman@ihrco.com or +32 498127973, or visit the company’s website: www.ihrco.com.
Contact:
Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office: (703) 435-6293
Cell: (703) 300-8289
Jerry Daly, Lauralee Dobbins Carrie McIntyre
Media SVP, Treasurer
Daly Gray Interstate Hotels & Resorts
(703) 435-6293 (703) 387-3320
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