According to a recent press release, the Interstate Hotels & Resorts (NYSE:IHR) reported a significant dropped on revenues for the second quarter of 2009.

The total revenue from the second quarter of 2008 was $40.5 million and the total revenue from the second quarter of 2009 was $34.0 million.

Mr. Thomas F. Hewitt, chairman and CEO commented:”I am very pleased with the significant progress we have made on our capital structure. We extended our senior credit facility to March 2012 well in advance of its original expiration date. This, along with our successful appeal of the NYSE’s ruling to suspend the trading of our stock, has provided stability to our capital structure in an extremely volatile market.”

During the second quarter the Interstate Hotels & Resort keeps focusing on top-line revenues and reducing costs wherever possible.

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