Interstate Hotels & Resorts and International Hotel Investments Ltd have signed a strategic agreement to maintain and invest in European hospitality business. IHI already holds a number of hotels in US and Europe, and four of them are owned by the alliance.
Thomas F. Hewitt, chairman and chief executive officer, says that the joint venture group is ready to add new properties to the existing European portfolio, comprising 12 hotels. He also noted IHI’s strong bonds with European companies and hence good awareness of local economic tendencies. For example, in December 2009, the Argyll Hotel Group, an affiliate of Harte Holdings, signed a contract with Interstate to operate upscale design hotels in London.
IHI Ltd. is a European hospitality management company, which currently participates in a large number of projects in Europe and the U. S.
Interstate Hotels & Resorts is one the United State’s largest hotel management groups with an extensive domestic and overseas portfolio. The company has managed properties in Europe for more than 10 years. As of today, Interstate owns and/or manages over 225 hotels in Mexico, United States, Canada, England, Belgium, Ireland, Russia and India.