Interstate Acquires Rim Hospitality's Management Portfolio
Friday July 18th, 2014 - 2:58PM O
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ARLINGTON, VA—Global management company Interstate Hotels & Resorts has acquired the management agreements of Rim Hospitality.
Interstate will create a Rim Hospitality Division with a dedicated team based out of Rim’s Newport Beach headquarters to manage the acquired portfolio. Strengthening Interstate’s West Coast presence, the transaction increases the depth of independent boutique and branded hotels in its collection, including hotels from renowned brands such as Marriott, Hilton and Starwood. The acquisition adds nearly 70 hotels with more than 10,600 rooms.
“Rim Hospitality brings a portfolio of high quality independent and branded, full- and select-service hotels, outstanding operating talent, and diverse client base to Interstate,” stated Jim Abrahamson, CEO of Interstate. “We’re excited to work with the strong leadership and talent of Rim. Enhancing our domestic portfolio with a heavy West Coast focus, complimented by remarkable operations, development and finance professionals, we are confident we will continue to deliver exceptional service to guests and outstanding returns to owners.”
Tags: Interstate • Rim • management • Hospitality • Management Companies •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.