ARLINGTON, Va. -- Interstate Hotels & Resorts (NYSE: IHR), the nation's largest independent hotel management company, today announced that it has been selected to manage a luxury, all-suite hotel currently under construction in downtown Iowa City, Iowa. The 56-suite, extended-stay property is part of a $27 million, mixed-use development called Plaza Towers, which also will feature a 14,000-square-foot grocery store; 4,000 square feet of ground-level retail space; a state-of-the-art health club; a conference center; 27 apartments; and 28 condominiums. The Plaza Towers project is expected to be completed by late 2005.

"Iowa City is experiencing a development boom, and Plaza ...