Interstate Hotels & Resorts, the leading U.S.based global hotel management company, has acquired Chardon Management Ltd., a highly respected independent management company in the United Kingdom, elevating Interstate’s total U.K. portfolio to 47 hotels either open or under development.
On the heels of the Company’s entrance into the U.K., this transaction creates a formidable executive team and dedicated base of operations in the region for hotel owners and investors, fully supported by Interstate’s industry-leading systems.
Interstate’s U.K. team will be complemented with Chardon’s high quality, knowledgeable executives and associates led by Managing Director for the U.K., Robert Crook who will be reporting to Ken McLaren, Interstate’s executive vice president of international operations, further strengthening Interstate’s insight and ability in the market.
Pre-eminent in UK and Irish markets
“With this acquisition, we believe Interstate is now the pre-eminent hotel management company in the U.K. and Irish markets, offering institutional and private investors a world class hotel management platform,” said Jim Abrahamson, chief executive officer of Interstate Hotels & Resorts. “As our second U.K. acquisition this year, we can leverage Interstate’s on-the-ground operations and tangible experience in the country to successfully transition and operate this new portfolio, generating ultimate profitability for owners, and maximizing asset value.”
Chardon Management’s portfolio includes 32 hotels with 3,414 rooms, consisting of Holiday Inn Express and Holiday Inn branded hotels in addition to Hotel Indigo, Best Western, Choice, Ibis Styles and independent hotel brands.
“Chardon is one of the most esteemed independent management companies in the U.K. and a top strategic choice for Interstate’s targeted expansion plans,” said Leslie Ng, chief investment officer of Interstate Hotels & Resorts. “We’re looking forward to managing this expanded portfolio with best-in-world experience, strong brand relationships and institutional-quality systems.”
About Interstate Hotels & Resorts
Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging Group and Jin Jiang Hotels, is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, convention centres and independent hotels worldwide. Interstate and its affiliates manage 387 hotels with 73,000 rooms in North America, Europe and Asia-Pacific, including six wholly owned hotels. In addition, Interstate has executed agreements to manage 40 hotels with more than 8,100 rooms under construction or development throughout the world.
About Chardon Management Ltd.
Chardon currently manages 32 hotels and one health and fitness club throughout the length and breadth of the U.K. Its brand portfolio consists of Holiday Inn, Hotel Indigo, Holiday Inn Express, Ibis Styles, Best Western Plus, Quality Hotel, La Bonne Auberge, Limelight Bar & Grill, Triangle, hoteldeals.co.uk and five individually branded properties.