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Interstate Hotels & Resorts history
Interstate Hotels & Resorts company history timeline
Interstate Hotel Company was founded in 1961 by Pittsburgh attorneys Milton Fine and Ed Perlow, who together purchased the Capri Motel in Erie, Pennsylvania.
Fine and Perlow kept a low profile, but Interstate incorporated in 1962 and expanded throughout the next decade by purchasing several Howard Johnson motels along the Pennsylvania Turnpike.
The company develops its 16th Marriott-branded property, the Pittsburgh Marriott Airport in Pennsylvania, which opens in 1987.
MeriStar was the latest incarnation of a company that had begun business in 1987 as LCP Hotels, a company that specialized in managing distressed hotels--that is, hotels not profitable enough to make payments on the loans used to build them.
By 1990, Interstate had 30 hotel management contracts.
By 1995, it had 150 management contracts with Marriott and other hotel brands and net income of $15.8 million on double the revenue of its closest competitor, Carnival Resorts and Hotels.
Washington, DC-based CapStar is founded by Paul Whetsell, which would later merge with American General to form MeriStar Hotels & Resorts in 1998.
1999: Patriot spins off the management end of the company as Interstate Hotel Corporation.
A month later, FelCor Lodging Trust Inc., a Texas real estate investment trust, announced its intention to buy out MeriStar Hospitality for $2.7 billion in cash and stocks, but after September 11, 2001, the companies called off the deal.
According to the Washington Post in a 2002 article, investors found the companies more attractive as separate entities in part because the real estate investment trust paid out dividends to shareholders.
In the summer of 2003, Interstate moved MeriStar's 230 employees from Georgetown to Arlington.
Interstate is selected to manage the first Hilton-branded hotel in Moscow, the Hilton Leningradskaya, which re-opens in 2008 after extensive renovations.
In 2011, Interstate transitioned 171 hotels, growing its portfolio by 60% and by year-end, the company operated and/or owned 387 hotels.
Originally founded over 50 years ago in the U.S, Interstate Hotels & Resorts established the European and Russian divisions in 2013.
Interstate named to manage J Hotel, located in the under-construction Shanghai Tower, anticipated to be the highest hotel upon opening in late 2014.
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Interstate Hotels & Resorts competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Caribbean Restaurants | 1963 | $14.0M | 200 | - |
| Larry's Giant Subs | 1982 | $500,000 | 9 | - |
| getaroom.com | 2009 | $24.0M | 750 | - |
| Nautic Partners | 1986 | $15.0M | 20 | - |
| Radisson | - | $3.0M | 50 | 3 |
| Wyndham Hotels & Resorts | 1981 | $1.6B | 50 | 234 |
| Columbia Sussex | 1972 | $24.0M | 120 | - |
| Radisson Hotels International Inc | 1983 | $1.8B | 17,800 | - |
| DoubleTree by Hilton Portland | - | $3.7M | 350 | 69 |
| Concord Hospitality | 1986 | $270.0M | 5,000 | 784 |
Interstate Hotels & Resorts history FAQs
Zippia gives an in-depth look into the details of Interstate Hotels & Resorts, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Interstate Hotels & Resorts. The employee data is based on information from people who have self-reported their past or current employments at Interstate Hotels & Resorts. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Interstate Hotels & Resorts. The data presented on this page does not represent the view of Interstate Hotels & Resorts and its employees or that of Zippia.
Interstate Hotels & Resorts may also be known as or be related to Fairmont Hotels & Resorts, INTERSTATE HOTELS & RESORTS, Interstate Hotels & Resorts, Interstate Hotels & Resorts Inc and Interstate Hotels & Resorts, Inc.