Business Editors

ARLINGTON, Va.--(BUSINESS WIRE)--July 24, 2003

Interstate Hotels & Resorts (NYSE: IHR), the nation's largest independent hotel management company, today announced that it had been selected by two developers to manage hotel properties in New York and Connecticut.

Chelsea Grand, LLC, a New York City real estate developer, named Interstate to manage its new Four Points by Sheraton, currently under construction in the Chelsea section of Manhattan, and PRA Development and Management Corp. selected Interstate as manager of a new, 150-room Hilton Garden Inn in Glastonbury, Conn., currently under construction and scheduled to open in September 2003.

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