Interstate Hotels & Resorts acquires Rim Hospitality hotel management agreements
Arlington-based Interstate Hotels & Resorts — a major hotel management company — has acquired the hotel management agreements of Rim Hospitality.
Interstate plans to create a Rim Hospitality Division based in Rim's Newport Beach, Calif., headquarters to manage the acquired portfolio.
Interstate said the portfolio strengthens the company's West Coast presence while increasing its management agreements with independent boutique and branded hotels.
The acquisition adds nearly 70 hotels with more than 10,600 rooms, including brands such as Marriott, Hilton and Starwood.
Interstate is a subsidiary of a joint venture between the subsidiaries of Thayer Lodging Group and Jin Jiang Hotels.
The company and its affiliates manage 440 hotels with more than 81,000 rooms in North America, Europe and Asia-Pacific, with ownership interest in 31 hotels.
In addition, Interstate has executed agreements to manage 39 hotels with over 6,400 rooms under construction or development throughout the world.