8-K 1 htm_20158.htm LIVE FILING Interstate Hotels & Resorts, Inc. (Form: 8-K)  

 


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   May 4, 2007

Interstate Hotels & Resorts, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 1-14331 52-2101815
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
4501 North Fairfax Drive, Suite 500, Arlington, Virginia   22203
_________________________________
(Address of principal executive offices)
  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (703) 387-3100

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 1.01 Entry into a Material Definitive Agreement.

On May 4, 2007, Interstate Atlanta Airport, LLC, an affiliate of Interstate Hotels & Resorts, Inc. (the "Company"), signed an Agreement of Purchase and Sale to acquire the 495-room Westin Atlanta Airport in Georgia from Lepercq Atlanta Renaissance Partners, L.P., an affiliate of The Blackstone Group. The purchase price was $74 million, or $148,000 per key. An affiliate of the Company will manage the hotel.

The Company plans to spend an additional $18 million for major renovations of the guestrooms and common areas. It will finance the transaction with cash on hand and with funds drawn on its senior credit facility. The transaction is expected to close during the second quarter.






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    Interstate Hotels & Resorts, Inc.
          
May 8, 2007   By:   /s/ Christopher L. Bennett
       
        Name: Christopher L. Bennett
        Title: EVP and General Counsel