Interstate Hotels & Resorts Signs Agreements to Manage Two Courtyards by Marriott
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Interstate Hotels & Resorts Signs Agreements to Manage Two Courtyards by Marriott
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2008-01-15
Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation's largest independent operator of full- and select-service hotels, today announced that it had signed agreements to manage two Courtyard by Marriott hotels, in Westborough, Mass. and Orange, Conn. The hotels are owned by Pittsburgh-based FFC Capital Corporation. FFC Capital Corporation was founded in 1998 by Milton Fine, former chairman and co-founder of Interstate Hotels Corporation, a predecessor company to Interstate.
"We have a long-standing relationship with FFC and are thrilled to have this opportunity to work with them again," said Thomas F. Hewitt, chief executive officer of Interstate. "We are already examining other avenues of mutual interest, and are looking forward to building on our relationship going forward."
"Interstate is one of the country's premier management companies, and we are delighted to have the opportunity to renew our relationship," said Fred Branovan, president of FFC Capital Corporation. "They have strong ties to the Courtyard brand and a long track record of success, with proven systems and exceptional people, and we have the utmost confidence in them."
The Courtyard by Marriott Westborough is a 98-room property located in Westborough Technology Park, 20 miles west of downtown Boston. The hotel offers casual dining for breakfast in the lobby's Courtyard Cafe, a full-service business center, fitness center, indoor pool, and high-speed Internet access in the public areas and the guest rooms.
The 121-room Courtyard by Marriott Orange is conveniently located off of I-95, close to Yale University and downtown New Haven. Among the hotel's amenities are nearly 4,000 square feet of meeting space, capable of accommodating groups of up to 250 people.
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