Interstate Hotels & Resorts acquires Chardon Management portfolio of 32 hotels
US-based hotel management business Interstate Hotels & Resorts has acquired Chardon Management and its portfolio of 32 hotels.
The move comes six months after Interstate, which manages 387 hotels in North America, Europe and Asia-Pacific including six owned properties, moved into the UK with the acquisition of the management arm of the hotel and development and ownership company Sanguine Hospitality.
Jim Abrahamson, chief executive officer of Interstate Hotels & Resorts said the expansion of Interstate in the UK establishes Interstate as "the preeminent hotel management company" in the country.
"As our second UK acquisition this year, we will leverage Interstate's on-the-ground operations and tangible experience in the country to successfully transition and operate this new portfolio, generating increased profitability for owners, while maximizing asset values."
Chardon Management's portfolio includes 32 hotels with 3,414 rooms, consisting of branded hotels such as Holiday Inn Express, Holiday Inn, Hotel Indigo, Best Western, Choice and Ibis Styles, as well as six independent properties.
Nicola Taylor, director at Chardon Management, who will continue to work with the new business in an advisory capacity, said: "Interstate is a recognised world leader and brings 50 years of industry experience, dynamic relationships with quality brands and international experience to the table."
Interstate Hotels & Resorts is a 50/50 joint venture between subsidiaries of Thayer Lodging Group and Jin Jiang Hotels.
