IH&R Managing Summit REIT Portfolio

ARLINGTON, VA—Interstate Hotels & Resorts yesterday assumed management of 65 branded, select-service hotels owned by Summit Hotel Properties, Inc., a newly formed REIT.

The hotels represent 6,533 rooms and are located in 19 states.

“Our Crossroads division, which specializes in select-service hotels, transitioned the properties yesterday morning,” said Thomas F. Hewitt, Interstate’s chairman/CEO.

Recently, Interstate also took over a 13-hotel collection of full-service hotels representing 5,466 rooms owned by affiliates of The Blackstone Group.

Interstate Hotels & Resorts, Inc, a wholly owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging and Jin Jiang.