the Claremont Resort & Spa in Berkeley, California
Fla., Aug. 1, 2005 - CNL Hotels & Resorts, Inc., the nation's second
largest hotel real estate investment trust, and Interstate Hotels &
Resorts (NYSE:IHR), the nation's largest independent hotel management company,
jointly announced today that they had entered into an agreement in which
Interstate will manage the landmark Claremont Resort & Spa in California.
The Claremont Resort & Spa marks the 24th hotel in the 100-property
portfolio of CNL Hotels & Resorts that is being managed by Interstate
Hotels & Resorts.
"Interstate is a leading operator of premier properties and we believe they will build upon the accomplishments of our prior manager and raise the Claremont to new levels of success," said Thomas J. Hutchison III, Chief Executive Officer of CNL Hotels & Resorts. "We are pleased with the opportunity to further our longstanding relationship with an experienced operator in Interstate, who has demonstrated a successful track record with destination resorts."
Beyond the 24 properties managed for CNL Hotels & Resorts, additional notable properties that are currently managed by Interstate Hotels & Resorts include: South Seas Resort in Captiva Island, Fla., The Charles Hotel in Harvard Square in Cambridge, Mass., The Muse in New York, N.Y., The Bishop's Lodge Resort & Spa in Santa Fe, N.M., and Laguna Cliffs Marriott Resort & Spa in Dana Point, Calif.
"We have an extensive background in the San Francisco market and currently operate five other hotels there," said Thomas F. Hewitt, Interstate's chief executive officer. "We believe we can add immediate value to this property through our proprietary operating and marketing programs and high guest- oriented service philosophy. We look forward to the opportunity to enhance this historic hotel's results and to further build on our relationship with CNL."
Proclaimed by architect Frank Lloyd Wright as "one of the few hotels in the world with warmth, character and charm," the Claremont Resort & Spa has presided over the Berkeley hills above San Francisco Bay since 1915. Inspired by Mediterranean villas and grand Victorian seaside residences, the hotel is surrounded by 22 acres of impeccably landscaped grounds. In addition to 279 rooms and suites, this urban resort offers 25,000 square feet of function space incorporating two ballrooms and stunning skyline views. Other key features include an acclaimed 20,000-square-foot spa, two swimming pools, 10 tennis courts and California cuisine at Jordan's, the East Bay's only Four Diamond restaurant.
A number of capital improvements at the Claremont Resort & Spa are planned, including exterior painting, pool deck improvements, meeting space renovations and enhanced bedding packages.
About CNL Hotels & Resorts, Inc.
About Interstate Hotels & Resorts
This press release contains "forward-looking statements," within the meaning of the federal securities laws and regulations, about Interstate Hotels & Resorts and CNL Hotels & Resorts, Inc.
CNL Hotels & Resorts, Inc.
|Also See:||KSL Resorts Enters New Phase of Operations Following Sale of Six Resorts to CNL Hotels & Resorts, Inc / August 2004|
|KSL Recreation Corp. Intends to Sell the Claremont Resort & Spa in Oakland and Maintain the Management Contract / February 2004|
|KSL Recreation Corporation Purchases The Claremont Resort Spa / April 1998|