From Washington Business Journal:
Interstate Enters Netherlands in 9 Hotel Deal
Arlington, VA-based Interstate Hotels & Resorts has struck its first deal in The Netherlands in a joint venture with TVHG Budget Group Beheer BV. Interstate, an independent hotel management company taken private in 2010, said Monday that it had agreed to invest in a portfolio of nine hotels located across the Netherlands with TVHG Budget Group. Financial terms of the joint venture were not disclosed. Of the nine hotels, one was recently opened and the remaining eight are expected to be open by the end of 2012. All nine hotels, comprising approximately 1,800 rooms, will be managed under long-term contracts by Interstate and will fly the Holiday Inn, Holiday Inn Express or Hampton Inn flags. Click here for the full story.