Interstate Hotels & Resorts Expands Joint Venture, Acquires Orlando, FL Hotel
Interstate Enters into the Sixth Acquisition with Waramaug Hospitality
"With significant hotel transition experience worldwide, we're confident that Interstate's ignition process, our proprietary property transition program, along with our experienced operators and regional corporate teams will produce a seamlessly executed conversion," said Leslie Ng, Interstate's chief investment officer. "With the planned renovations and strong market projections, we're eager to lead the Sheraton Orlando North Hotel to a successful bottom line."
"The fundamentals are strong in this market and we anticipate a significant upside potential, especially with the upcoming refresh," said Paul Nussbaum, Waramaug's chief executive officer. "Working with Interstate has proven successful in the last five endeavors and we're eager to see the Sheraton Orlando North Hotel gain more market share."
The Sheraton Orlando North Hotel features a glass-domed atrium with a captivating waterfall surrounded by tropical foliage. With 382 guestrooms, 14,000 square feet of meeting space including a 7,500 square foot ballroom, four dining options, an outdoor pool with water feature, a concierge floor with private Club Lounge, fitness center and Link@Sheraton business center, the hotel invites travelers to relax in warm ambiance and Sheraton Sweet Sleeper™ beds.
For more information about the Sheraton Orlando North Hotel, visit www.sheratonorlandonorth.com or call 1-800-325-3535 for reservations.
Waramaug Hospitality LLC, headed by Chief Executive Officer Paul Nussbaum, founder of Patriot American Hospitality, is an active acquirer of hotels internationally. Waramaug Hospitality Asset Management LLC, the asset management affiliate of Waramaug Hospitality, has in-depth capabilities and experience in hotel asset management and renovation. Jay Litt, a former Executive Vice President of Wyndham International, leads the company's asset management responsibilities.
Samantha Schmidt/ Erin Vogt
The Zimmerman Agency
About Interstate Hotels & Resorts
Interstate Hotels & Resorts is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, convention centers and independent hotels worldwide. Currently, Interstate and its affiliates manage 431 hotels with over 77,300 rooms around the globe. In addition Interstate has executed agreements to manage 51 hotels with over 9,400 rooms under development or construction. For more information, please visit www.interstatehotels.com. Connect with Interstate at www.linkedin.com/company/interstate-hotels-resorts, www.facebook.com/InterstateHotels, and www.interstatehotels.com/careers.
For more information regarding hotel management in Europe, please contact Senior Vice President, Development-Europe, Aaron Greenman, at +32 490 43 15 72 or visit www.interstatehotels.co.uk. For more information about Interstate Hotels & Resorts worldwide, please visit www.interstatehotels.com.