ARLINGTON, VA, April 28, 2011— Interstate Hotels & Resorts today announced that JHM Interstate Hotels India, a 50/50 joint venture management company between Interstate and JHM Hotels, has opened and is managing two new-build hotels in India: the 217-room Four Points by Sheraton hotel in Pune (top left photo) and the 123-room Four Points by Sheraton hotel in Visakhapatnam (Vizag) (middle right photo).
The Four Points by Sheraton Pune is owned by Duet India Hotels (Pune) Private Limited, a subsidiary of U.K.-based, real estate investment group Duet Hotels, dedicated to hotel investment and development in India.
The Four Points by Sheraton Vizag is owned by Vishnupriya Hotels & Resorts Private Limited, a regional development company based in Visakhapatnam, India. “The opening of these two properties represents our second and third properties under management since we formed our joint venture with JHM Hotels and launched our third-party management platform in India,” said Thomas F. Hewitt (lower left photo), Interstate’s chairman and chief executive officer.
“Our business model, focused on local contacts and in-country experience, has translated well to India and enabled us to establish a strong operating platform there.
“Working with Duet Hotels, our largest hotel owner and investment partner in India, and JHM Hotels, our JV partner, we have developed a robust pipeline of third-party management opportunities in India.
“ We are also proud to be expanding our management relationships with such highly respected regional developers as Mr. K. Sarat Kumar Reddy, managing director of Vishnupriya. We expect to see continued vigorous growth in 2011 and beyond.”
Additional information about Interstate is available at the company’s website, www.ihrco.com
.Contact:
Jerry Daly, Carol McCune, Media, Daly Gray, (703) 435-6293, jerry@dalygray.com Carrie McIntyre, SVP, Treasurer, Interstate Hotels & Resorts, (703) 387-3320
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