Interstate invests in Dutch hotels

21st September 2011 (Last Updated September 21st, 2011 04:28)

US-based hotel management company Interstate Hotels & Resorts is to invest in a portfolio of nine hotels in the Netherlands.

US-based hotel management company Interstate Hotels & Resorts is to invest in a portfolio of nine hotels in the Netherlands.

The company entered a joint venture with TVHG Budget Group Beheer through its subsidiary TVHG Budget Group Netherlands for the investment and will manage all nine hotels under long-term contracts.

Of the nine hotels, which comprise approximately 1,800 rooms, the 112-room Holiday Inn Express Schiphol Airport in Amsterdam is open and the remaining eight are expected to be launched by the end of 2012 as Holiday Inn, Holiday Inn Express or Hampton Inn brands.

Interstate chairman and CEO Thomas Hewitt said the joint venture marks the company’s entry into the Netherlands and will increase its European presence to more than 25 hotels that are either open or in the pipeline.