Interstate Assumes Management of 122-room Holiday Inn Express & Suites in Montrose, CO

Property Recently Acquired by an Affiliate of Blue Cougar Investments

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. January 05, 2012

ARLINGTON, VA - January 4, 2012 - Interstate Hotels & Resorts, the largest U.S.-based global hotel management company, today announced that the company has signed an agreement to manage the Holiday Inn Express Hotel & Suites in Montrose, Colorado, effective December 29, 2011. The hotel was recently acquired by an affiliate of Blue Cougar Investments, a New York-based real estate investment group, whose venture partners include Waramaug Partners and New York City-based private equity firm, Wharton Equity Partners. The Holiday Inn Express is the second hotel Interstate operates for this ownership group.

Located in the San Juan Mountains in the southwestern part of the state, the 122-room hotel, including 24 suites, is located in the heart of Montrose, a vibrant, growing city that also serves as the gateway to Telluride. The Holiday Inn Express is ideally situated, offering easy access to Highways 550, 50 and 95, as well as proximity to Montrose Memorial Hospital, U.S. Western Area Power Administration, the Department of Wildlife and Tri-State. Considered the premier meeting space in Montrose, the hotel features nearly 6,000 square feet of meeting space, a 24-hour business center and complimentary Wi-Fi access throughout the hotel.

Amenities include an indoor pool, whirlpool and a Fitness Center. The on-site micro-pub, featuring a copper and rock fireplace, offers warm comfort after a day's activities, and a complimentary Express Start Breakfast is served each morning.

About Interstate Hotels & Resorts
Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging and Jin Jiang, is the United States' leading hotel management company, operating branded, full- and select-service hotels and resorts, conference centers and independent hotels worldwide. The company and its affiliates manage and/or have ownership interests in nearly 400 hotels, with more than 70,000 rooms in 40 states, the District of Columbia, China, Russia, India, Mexico, Belgium, Canada, Ireland, England and the Netherlands. The company has ownership in 57 of those hotels, including six wholly owned assets. Interstate Hotels & Resorts also has executed agreements for 25 hotels with more than 5,100 rooms under construction or development throughout the world.

For nearly two decades, Interstate Hotels & Resorts has been operating hotels outside of the United States. The company's global hotel management platforms in Western Europe, Russia, India and China provide the resources and infrastructure necessary for comprehensive hotel management operations, sales and marketing, revenue management, e-commerce, procurement, food and beverage operations and technical services for hotel owners and developers seeking a proven and experienced hotel management company.

For additional information about Interstate, visit the company's website: www.ihrco.com.