The owners of Interstate Hotels & Resorts are looking to sell, according to the Wall Street Journal. Thayer Lodging Group and Shanghai Jin Jiang International Hotels Group Co. formed a partnership to acquire the company in 2010. According to the article, they have hired investment bank Moelis & Co. to market the company.
Interstate Hotels & Resorts, which manages around 460 hotels with 81,000 rooms, is expected to sell for more than $600 million, an increase of roughly $300 million from when its current owners purchased it.
