Third-party management gaint Interstate Hotels & Resorts got a lot bigger on Wednesday announcing it has agreed to acquire from White Lodging the management agreements of 82 premium-branded, select- and full-service hotels, plus one restaurant. The transaction is anticipated to close by the end of January 2018.
“A transaction of this magnitude will allow Interstate to further enhance our industry leading systems and create additional value through our enhanced buying power,” said Michael Deitemeyer, Interstate’s president and CEO.
The 82 hotels, of which 78 are select-service, are located in eight states and aggregate to 10,188 rooms under brands including Marriott, Hyatt and Hilton. Upon completion of the transaction, Interstate will be operating approximately 540 properties in 12 countries inclusive of committed pipeline.