Interstate Hotels & Resorts (IHR +74%) agrees to be bought for $307M in cash by a joint...

|About: Interstate Hotels & Resort... (IHR)|By:, SA News Editor

Interstate Hotels & Resorts (IHR +74%) agrees to be bought for $307M in cash by a joint venture of Thayer Hotel Investors and Shanghai Jin Jiang - a 79% per-share premium over Thursday's close. IHR owns real estate and manages hotels in 37 states and five other countries.