from Hotels (11/4):
Interstate To Manage Resort In Moscow
-- Hotels, 11/4/2008 8:57:00 AM
"ARLINGTON, Va., November 4, 2008—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent operator of full- and select-service hotels, today announced that it has signed a contract to manage the hotel component of a 3,000,000 square-foot, futuristic indoor resort to be built outside Moscow. The mixed-used retail and entertainment complex to be named Freestyle Park will feature an indoor ski slope, apartments, bars, restaurants, movie theaters, an aqua park, a science museum, and a shopping center. The project is being developed by MT Development, with the hotel portion expected to open Spring 2011. It is Interstate’s tenth hotel management contract in Europe, eight of which are open and operating." ...
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