ARLINGTON, Va.—Interstate Hotels & Resorts announced today the acquisition of Chardon Management, an independent management company in the United Kingdom, elevating Interstate’s total U.K. portfolio to 47 hotels either open or under development.
On the heels of the Company’s entrance into the U.K., this transaction creates a formidable executive team and dedicated base of operations in the region for hotel owners and investors. The company’s U.K. team will be complemented with Chardon’s knowledgeable executives and associates led by Interstate Europe’s Managing Director for the U.K., Robert Crook who will be reporting to Ken McLaren, Interstate’s executive vice president of international operations.
“With this acquisition, we believe Interstate is now established as the preeminent hotel management company in the U.K. and Irish markets, offering institutional and private investors a world class hotel management platform,” said Jim Abrahamson, chief executive officer of Interstate Hotels & Resorts. “As our second U.K. 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 Holiday Inn Express and Holiday Inn branded hotels in addition to Hotel Indigo, Best Western, Choice, Ibis Styles and independent hotel brands.