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Interstate Hotels & Resorts, Inc. Names Hank Ciaffone
President, International Operations and Development,
and C.A. Anderson EVP, Development
ARLINGTON, Va., November 24, 2003 — Interstate Hotels & Resorts (NYSE: IHR), the nation’s largest independent hotel management company, today announced that Henry L. (Hank) Ciaffone has been promoted from senior executive vice president of international operations and development to president of that division.  Additionally, the company announced that C.A. Anderson has been promoted to executive vice president of development and will oversee the company’s expanded development and acquisitions initiatives.  

“Hank and C.A. both have proven track records with Interstate and have made significant contributions to our success,” said Steve Jorns, chief executive officer.  “Hank, a 32-year industry veteran, has in-depth international experience and will play a key role in our continuing growth in Europe, where we currently manage four properties.  C. A. joined us six months ago and has done a superb job as we have ratcheted up our development activity.  His lodging and real estate expertise will play an important role as we pursue our growth initiatives.”
 
Hank Ciaffone

Ciaffone joined Interstate Hotels in 1989 as vice president and corporate controller.  He later was promoted to senior vice president and treasurer.  Ciaffone, who is based in Moscow, Russia, has led international operations and development since 1995 when Interstate’s first hotel in Moscow opened.

Prior to joining Interstate, he was chief operating officer and chief financial officer of Koala Inns of America; group vice president-real estate for Howard Johnson; and held a number of financial and real estate development positions with Sheraton Corporation.

C. A. Anderson

C. A. Anderson joined the company in May as senior vice president, development and acquisitions.  Prior to joining Interstate, Anderson was managing director of the hotel group for Cornerstone Real Estate Advisers, Inc., where he was responsible for overseeing 32 hotels with a market value of $1.2 billion.  A 25-year hospitality industry veteran, he has held a variety of senior-level positions within the industry, including vice president of development for Vancouver, Wash.-based Red Lion Hotels, Inc. and chief development officer for Hotel Nikko, Inc., a subsidiary of Japan Airlines Group of Companies.  Additionally, Anderson is a certified hotel administrator (CHA), past board member of the Hospitality Asset Managers Association (HAMA) and currently serves on the ULI Hotel Development Council.

Interstate Hotels & Resorts operates more than 300 hospitality properties with nearly 67,000 rooms in 42 states, the District of Columbia, Canada and Russia.  BridgeStreet Corporate Housing Worldwide, an Interstate Hotels & Resorts subsidiary, is one of the world’s largest corporate housing providers, offering upscale, fully furnished corporate housing throughout the United States, Canada, the United Kingdom, France and 39 additional countries through its network partners.

This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about Interstate Hotels & Resorts, including those statements regarding future operating results and the timing and composition of revenues, among others, and statements containing words such as "expects," "believes" or "will,” which indicate that those statements are forward-looking. 

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Contact:
Interstate Hotels & Resorts
Melissa Thompson
Director of Corporate Communications Relations (Media)
(703) 387-3377
www.ihrco.com
Also See: Interstate Hotels & Resorts Names Steve Jorns Chief Executive Officer / October 2003


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