ARLINGTON, Va., Dec. 2 /PRNewswire-FirstCall/ -- Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation's largest independent management company, today announced that it had received notice from the New York Stock Exchange that its stock had fallen below one of the Exchange's continued listing standards for common stock. That standard requires that a stock maintain a minimum average closing price of $1.00 per share over 30 consecutive trading days.

Under NYSE rules, the company has a period of six months, subject to possible extension, to bring its 30-day average share price back above $1.00. The company's common stock will continue to be listed on the NYSE during the cure period, subject to compliance with other NYSE continued listing requirements. The company plans to notify the NYSE that it intends to cure the deficiency. During this six-month cure period, the NYSE will assign a ".BC" to the company's ticker symbol indicating the company is below the continued listing criteria.

About Interstate Hotels & Resorts

Interstate Hotels & Resorts has ownership interests in 57 hotels and resorts, including seven wholly owned assets. Together with these properties, the company and its affiliates manage a total of 227 hospitality properties with approximately 46,500 rooms in 37 states, the District of Columbia, Russia, Mexico, Belgium, Canada and Ireland. Interstate Hotels & Resorts also has contracts to manage 17 to be built hospitality properties with approximately 4,300 rooms. For more information about Interstate Hotels & Resorts, visit the company's Web site: http://www.ihrco.com.

This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about Interstate Hotels & Resorts, including those statements regarding future operating results and the timing and composition of revenues, among others, and statements containing words such as "expects," "believes" or "will," which indicate that those statements are forward-looking. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially, including the volatility of the national economy, economic conditions generally and the hotel and real estate markets specifically, the war in Iraq, international and geopolitical difficulties or health concerns, governmental actions, legislative and regulatory changes, availability of debt and equity capital, interest rates, competition, weather conditions or natural disasters, supply and demand for lodging facilities in our current and proposed market areas, and the company's ability to manage integration and growth. Additional risks are discussed in Interstate Hotels & Resorts' filings with the Securities and Exchange Commission, including Interstate Hotels & Resorts' annual report on Form 10-K for the year ended December 31, 2007.



    Contact:

    Carrie McIntyre
    SVP, Treasurer
    (703) 387-3320

SOURCE Interstate Hotels & Resort