Interstate Hotels & Resorts / IHR

About Interstate Hotels & Resorts

4501 N. Fairfax Dr., Arlington, Va. 22203
www.ihrco.com | 703-387-3100 | Founded: 1962

Industry: Hospitality And Travel | Category: Public Companies

In 2006, the company expanded through acquisitions and by securing new contracts. In May, it signed a deal to manage the 1,100-room Pinnacle Condominium Resort in Las Vegas, a twin-tower, 36-story property expected to open in 2009. In June, Interstate secured a $2 million, 21 percent stake in the Doral Tesoro Hotel & Golf Club, a 286-room resort near Dallas that it has managed since 2002. Subsequently, the company paid $14.4 million for the Hilton Garden Inn in Baton Rouge; $36 million for a Hilton in Arlington, Tex.; and $4 million for a 15 percent stake in six Residence Inn by Marriott hotels in the Cleveland area. Overseas, the company secured deals to manage a hotel near Dublin and to operate Russia's first Hilton.
In March of this year, the company opened its first hotel in Belgium, bringing its European total to seven. It also bought a 15 percent stake in the Radisson Hotel Cross Keys in Baltimore, which it has operated since 1998.

Chairman and CEO: Thomas F. Hewitt

2006 Financial Data

Revenues: $975,165,000 | Net Income: $29,779,000
Asssets: $333,690,000 | Earnings Per Share: $0.94
Total employees: 25,500 | Local employees: 1,550