Kohlberg partner Ahmed I. Wahla called Interstate "the clear leader in third party hotel management."
Headquartered in Arlington, Virginia, Interstate managers 425 properties in 10 different countries, providing services to hotels, resorts and conference centers.
Kohlberg acquired Interstate from Thayer Lodging and Jin Jiang International Hotels.
In his own statement, Thayer Lodging president and COO Bruce Wiles said "both firms remain favorable to Interstate, its senior management team and the business and we expect it to continue to deliver outstanding operating results for hotel owners into the future.