Hotel was Recently Acquired by Michigan-based ValStone Partners, LLC
ARLINGTON, Va. /TRAVERSE CITY, Mich., 2012-09-04 — /travelprnews.com/ — Interstate Hotels & Resorts today announced that it has assumed management of the 179-room Holiday Inn West Bay in Traverse City, Mich. The hotel was recently acquired by ValStone Partners, LLC, a Michigan-based private equity firm. The new owners plan to immediately invest in a multimillion dollar comprehensive hotel renovation that will enhance and revitalize this popular waterfront resort, anticipated to be completed ahead of the summer 2013 vacation season.
“This is our first management agreement with ValStone,” said Jim Abrahamson, Interstate’s chief executive officer. “We appreciate that they are entrusting a local landmark to us, and I am certain that our proven operating systems and resort management expertise, coupled with the hotel’s legacy of market dominance, will prove to be a very profitable alliance.”
Located on a pristine beach on Lake Michigan, Holiday Inn West Bay has been a Traverse City destination for more than 40 years, welcoming vacationers and business travelers alike to enjoy its peaceful surroundings, on-site marina, and easy proximity to the city’s charming downtown, 15 local golf courses, Michigan wineries and the Interlochen Performing Arts Center.
“We are delighted to be investing in this Lake Michigan jewel and contributing to the local economy,” said Gerald C. Timmis, III, senior managing director of ValStone Partners, LLC. “Holiday Inn West Bay has been a fixture in the Traverse City community for decades. When we’re finished with the planned improvements, the hotel will be positioned to welcome a whole new generation of travelers to this popular destination resort.”
The Holiday Inn West Bay features four restaurants, including outdoor dining, and two bars. An on-site marina with watercraft rentals, indoor and outdoor pools, whirlpools and sauna facilities make for memorable vacations, and 6,000 square feet of flexible meeting space for meetings or social occasions provide the perfect venue for business or pleasure. A fitness center, complimentary Wi-Fi and a 24-hour airport shuttle round out the hotel’s amenities. For hotel reservations or further information, please visit www.tcwestbay.com or call toll-free at (800) 888-8020.
About Interstate Hotels & Resorts
Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging and Jin Jiang, is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, convention centers and independent hotels worldwide. Interstate and its affiliates manage 372 hotels with more than 69,000 rooms in North America, Europe and Asia-Pacific, including six wholly-owned
hotels. In addition, Interstate has executed agreements to manage 45 hotels with over 8,300 rooms under construction or development throughout the world.
For more information, visit www.interstatehotels.com. Connect with Interstate at
www.linkedin.com/company/interstate-hotels-resorts, www.facebook.com/InterstateHotels, and
http://jobs.interstatehotels.com.
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