• Interstate takes on management of Summit sites

Interstate Hotels & Resorts has taken on management of 65 hotels in the US owned by newly-formed Reit Summit Hotel Properties.

Thomas F. Hewitt, Interstate’s chairman and CEO, said: "We believe there will be a significant number of hotels changing hands over the next few years, which is the most likely time that hotels will change management." Interstate’s most recent management portfolio takeover was a 13-hotel collection owned by affiliates of The Blackstone Group.

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