Business & Finance

Interstate Hotels & Resorts to Manage Florida's 294-Room Hyatt Regency Sarasota

ARLINGTON, VA. August 21, 2017 - Interstate Hotels & Resorts – the leading U.S.-based global hotel management company – announces that it has been selected to manage the award-winning Hyatt Regency Sarasota, owned by a group led by Florida Philanthropist Dr. Kiran Patel. The hotel will be asset-managed by KDG Capital.

With a dramatic bayside setting, the eco-friendly Hyatt Regency Sarasota introduces guests to the best Florida has to offer. The modern, resort-style, 294-room hotel is located minutes from the spectacular white-sand beaches of the Gulf of Mexico. The hotel features more than 20,000 square feet of meeting space, a lagoon-style pool, 24-hour gym and a private 32-slip marina and dock.

Interstate also operates a 230-room Marriott in Minneapolis for Dr. Patel. Said Mike Deitemeyer, CEO of Interstate Hotels & Resorts, "It is gratifying to earn additional business from an existing customer. Operating premium-branded, full service hotels are at the core of our management capabilities, and we are excited to expand our relationship with Dr. Patel's organization within this lodging sector. We are confident in delivering exceptional guest experiences and generating superior financial returns for this premium, market-leading hotel and are thankful for his belief in our operating model."

A global leader in third-party hotel management, Interstate Hotels & Resorts' depth of experience across all lodging segments and asset classes drives results in each of its managed hotels worldwide. For more information on Interstate Hotels & Resorts, visit www.InterstateHotels.com.

About Interstate Hotels & Resorts

Interstate Hotels & Resorts is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels, resorts, convention centers, and independent hotels in 10 countries. Interstate's global portfolio currently includes 447 properties with 82,602 rooms including signed hotels under construction or development. The Company's experienced operators, industry leading platforms, and extensive management capabilities produce exceptional guest experiences and optimal returns for hotel owners and investors. For more information, please visit www.interstatehotels.com, or follow Interstate on Facebook and LinkedIn.

Contact:
Kerri Crannis
kcrannis@zimmerman.com
850.668.2222

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