Interstate Hotels & Resorts (NYSE:IHR) today announced that it is now managing the 322-room and suite Hampton Inn Tropicana and adjacent Southwest Event Center in Las Vegas, Nev. It is the largest Hampton Inn among the brand's more than 1,600 hotels worldwide. The property, which recently completed a major refurbishment of all guestrooms, public spaces, pool and cabanas, is owned by Jackson-Shaw, a national real estate developer.
"This is our second Las Vegas property with Jackson-Shaw, for whom we also manage the 548-room Renaissance Las Vegas," said Thomas F. Hewitt, chief executive officer. "Despite the current economic slowdown, Las Vegas remains a major travel destination, attracting more than 36 million tourists annually. The hotel's adjoining event center adds an important dimension to the property, which has become a popular venue for business meetings, weddings and other local social events. We believe this contract demonstrates Jackson- Shaw's confidence in our ability to deliver excellent results at major urban properties."
"In such a challenging economic environment, Interstate, with its size advantages and depth of experience with the full range of hotel products and market segments, was a logical choice," said Christopher Sheldon, vice president of hotel operations at Jackson-Shaw. "They've already produced excellent results for us this year at our full-service Renaissance Las Vegas, and we're confident they can duplicate that success at the Hampton Inn Tropicana."
Located at 4975 Dean Martin Drive, a short walk from the fabled Las Vegas Strip lined with colossal mega casinos, the hotel is two miles from McCarran International airport and close to the UNLV campus and Thomas & Mack Center, the Fashion Show Mall and the Sands Convention Center, and the Las Vegas Convention Center.
The renovated property features a full roster of complimentary services and amenities, including Hampton's free "On-the-House" hot breakfast, free high-speed Internet, and 24-hour airport transportation. Hotel amenities include a Lagoon swimming pool and waterfall, whirlpool spa, sun deck and cabanas, a fully equipped business center, and a 24-hour fitness center.
The Hampton Inn Tropicana and adjoining Southwest Event Center provide a total of 10,000 square feet of flexible meeting and event space. The hotel can accommodate groups of up to 180 and offers full catering services and state-of-the-art audio/visual. The event center can accommodate larger meetings of up to 300 people, and can be configured as one grand conference room, a split conference room, a reception foyer, and an outdoor patio.
"We have added more than 50 management contracts to our portfolio this year, and we will continue on our path towards helping owners optimize returns, particularly in this challenging economic climate," said Leslie Ng, Interstate's chief investment officer.
Jackson-Shaw, a national real estate development company headquartered in Dallas, Texas, has more than 37 years of experience in the development of diversified real estate properties. The company has completed more than 38 million square feet of development since its founding in 1971. Today, Jackson-Shaw focuses its development activity on a variety of project types, including office, industrial, mixed use, hospitality and residential. The company's consistent goal is to increase and enhance values in real property assets for both its clients and capital partners.
Jackson-Shaw developed and opened the Hampton Inn Tropicana in 2000. The firm's portfolio also includes the 550-room Renaissance Las Vegas, three Marriott-branded properties in the Dallas area (two of the properties will open in April 2009, and one is currently under development) and one Hilton- branded property under development in Jacksonville, Fla.
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