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Press Release: Interstate Hotels & Resorts
June 30, 2006
ARLINGTON, VA -- Interstate Hotels & Resorts (NYSE: IHR), the nation's largest independent hotel management
company, yesterday announced that Chris Van der Baars has been named vice president, development. In this new position,
Van der Baars will spearhead the company's condo/hotel efforts, beginning with the recently signed 1,100- unit
Pinnacle Condominium Resort in Las Vegas, an $850 million, under- development condo resort project that is being
managed by Interstate. Van der Baars will report to Leslie Ng, Interstate's chief investment officer.
"With his more than 30 years of experience in all aspects of hotel and resort operations, Chris adds a strong
resort dimension to the considerable experience of the company's business development group," Ng said. "He
also understands the complexities of condo/hotel operations, especially in dealing with homeowner groups and marketing,
which we believe will give us a competitive edge in identifying and securing management opportunities in this growing
niche segment. In addition to his strong leadership skills, he has experience with construction and renovation,
which will be invaluable on the Pinnacle project."
A hospitality industry veteran, Van der Baars joined Interstate in 2000 as manager of the 500-room Doubletree Westshore
in Tampa, an airport property with 25,000 square feet of meeting space, where he was responsible for leading a
major turnaround of the property. He was then promoted to general manager of Interstate's South Seas Resort in
Captiva, Fla., a 330-acre complex that includes a condominium hotel, timeshare operations, employee housing, two
marinas, two golf courses, tennis operation, eight F&B outlets, catering, room service, recreation programs
and retail, both owned and leased.
Prior to joining Interstate in 2000, Van der Baars was president of his own consulting firm, which specialized
in maximizing individual and team performance in the hospitality industry for such clients as Hershey, Colonial
Williamsburg, Starwood, Preferred Hotels and the DuPont Company. Among the high-profile resorts he has managed
during his career are the Delta Orlando Resort, an 800-room hotel catering to domestic and international family
markets, and The Lodge at Vail, one of America's premier ski resort condo- hotels.
As of May 31, Interstate Hotels & Resorts operated 264 hospitality properties with nearly 60,000 rooms in 41
states, the District of Columbia, Canada, and Russia. BridgeStreet Worldwide, an Interstate Hotels & Resorts'
subsidiary, is one of the world's largest corporate housing providers. BridgeStreet and its network of Global Partners
offer more than 9,800 corporate apartments located in more than 95 MSAs throughout the United States and internationally.
For more information about Interstate Hotels & Resorts, visit the company's Web site: http://www.ihrco.com
This press release contains "forward-looking statements," within the meaning of the Private Securities
Litigation Reform Act of 1995, about Interstate Hotels & Resorts, including those statements regarding future
operating results and the timing and composition of revenues, among others, and statements containing words such
as "expects," "believes" or "will," which indicate that those statements are forward-looking,
although not all forward- looking statements will contain such words. Except for historical information, the matters
discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties
that could cause the actual results to differ materially, including the volatility of the national economy, changes
in business and leisure travel patterns or levels, fuel cost, economic conditions generally and the hotel and real
estate markets specifically, international and geopolitical instability, health concerns, threatened or actual
terrorist attacks, governmental actions, legislative and regulatory changes, availability of debt and equity capital,
interest rates, competition, weather conditions or natural disasters, changes in supply and demand for lodging
facilities in our current and proposed market areas, and the Company's ability to manage integration and growth.
Additional risks are discussed in Interstate Hotels & Resorts' filings with the Securities and Exchange Commission,
including Interstate Hotels & Resorts' annual report on Form 10-K as amended for the year ended December 31,
2005.
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Contact:
Jerry Daly, Carol McCune (media)
Daly Gray Public Relations
(703) 435-6293
jerry@dalygray.com
Source: Interstate Hotels & Resorts