May 5, 2016
Private equity firm Kohlberg & Co., based in New York City, acquired Interstate Hotels & Resorts (IHR) from Thayer Lodging and Jin Jiang International Hotels. The price was not disclosed.
Sources say the acquisition provides the Arlington, VA-based IHR with access to more capital resources, as well as the ability to support additional growth. The senior management team will remain in place. Interstate, which employs more than 30,000, oversees operations at more than 425 hotels in the United States and abroad.
Thayer Lodging and JV partner, Shanghai-based Jin Jiang Hotels, had owned IHR since 2010.