Interstate buys Gateway management platform

Martha Elwell Martha Elwell Uploaded 04 March 2018


US: Interstate Hotels & Resorts has acquired the management platform from Gateway Hospitality Group.

The 20-hotel portfolio will be operated under Interstate Gateway Management LLC, a subsidiary of Interstate Hotels & Resorts, with Gateway founder Bob Voelker and partner Ron Hutcheson joining Interstate in executive-level asset management and owner relations responsibilities for the portfolio.

Gateway has a long track history of developing and managing high quality hotels throughout the United States. "We're delighted to be part of Interstate going forward," said Bob Voelker. "Interstate's high quality operations and industry-leading platforms create value-add opportunities for our owners."

Aggregating to 2,544 rooms, the portfolio includes premium select-service properties under lodging brands including Hilton and Hyatt, in addition to two luxury boutique hotels, across five states and the District of Columbia.

"As we continue a strong growth trajectory, our successful operating strategy combining economies of size with the deployment of regionally-focused operations teams brings tremendous value to our hotel owners and investors," said Mike Deitemeyer, Interstate's president and CEO. "We anticipate generating superior returns for the respective owners of this portfolio through our management acumen, scale, and industry-leading financial and operating systems."

Leslie Ng, Interstate's chief investment officer, added: "Along with gaining a high-quality portfolio of hotels and top talent with this transaction, we look forward to building on new relationships with an expanded client base."

Interstate's global portfolio consist of 550 properties in 12 countries inclusive of committed pipeline of signed hotels under construction or development around the world.


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