In a move to increase its presence on the U.S. West Coast as well as the depth of its independent boutique and branded hotels, Interstate Hotels & Resorts, Arlington, Virginia, announced it acquired the management agreements of Rim Hospitality, representing nearly 70 hotels with more than 10,000 rooms.
Rim’s portfolio includes full- and select-service hotels under brands such as Marriott and Hilton across 10 states.
Interstate plans to create a Rim Hospitality Division with a dedicated team based out of Rim’s headquarters in Newport Beach, California. Russ Cox, who oversees all operations, sales and marketing and revenue management efforts for the divisional portfolio, will continue as executive vice president, reporting to Ted Knighton, Interstate’s president and chief operating officer; Mark LeBlanc will transition as the executive vice president of development, reporting directly to Leslie Ng, Interstate’s chief investment officer; and Jeff Virgil will continue in a senior finance role. Mark Burden, president, chief executive officer and managing partner of Rim, will continue to be heavily involved in an advisory capacity.
“We are excited about joining the leader of our industry and having access to the resources and experience Interstate possesses, while still maintaining our core business principle of personalized service to all of our owners, regardless of the size of their portfolio,” Burden said. “Our team of seasoned hospitality professionals will be aided by the advanced systems Interstate has in human resources, purchasing, finance and IT, enabling them to focus more on driving revenues and profits for our owners.”
“Interstate is committed to strengthening our presence on the West Coast, enriching services and focusing on success for our owners and client base in the region,” Ng said. “Maintaining and enhancing Rim’s leadership teams and executives for continuity and growth is an extremely important objective of Interstate.”