According to an article in The Washington Business Journal, Interstate Hotels & Resorts Inc. has formed a joint venture with FFC Capital Corp. The venture acquired 22 Exel Inn properties in the Midwest, which were converted to Wyndham Worldwide brands as soon as the deal closed. Arlington-based Interstate invested a 10 percent equity interest in the 22 hotels and assumed management of the properties.
Interstate has ownership interests in 54 hotels and resorts, including seven wholly owned assets. All told, the company and its affiliates manage 218 properties in 36 states, the District and a handful of international locations.
Tell Us What You Think!
You must be logged in to post a comment.