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Six Million Dollars in Renovations Completed at the Doubletree Hotel Houston Intercontinental Airport Houston, TX . – July 2, 2007 – Driftwood Hospitality Management is pleased to announce that the Doubletree Hotel Houston Intercontinental Airport has recently completed a six million dollar renovation transforming each area of the hotel, from guest rooms to public space, embracing a residential look and feel to provide guests with the most comfortable experience. The hotel's Grand Reopening took place on May 31, 2007. Renovations to the 313 guestrooms include all new furnishings, the addition of Sweet Dreams by DoubleTree bedding providing the signature DoubleTree sleep experience, elegant color schemes offering warm and welcoming tones, and stylishly appointed bathrooms featuring granite accents and custom designed vanities. The hotel's more than 18,500 sq. ft. of meeting and pre-function space has received new wall coverings and furnishings; the hotel lobby has been updated with new furnishings and other soft goods in warm hues of gold, blue and garnet; and Oakley's restaurant and Derricks Saloon have each received new flooring. All improvements are highlighted by additional interior and exterior lighting and showcased within beautiful exterior landscaping. “This is a very exciting change for the hotel,” said General Manager Terry Mariano. “Our new, richly appointed rooms and public space are the perfect complement to the excellent service and many amenities we already offer to provide the most comfortable and rewarding stay for our guests.” The DoubleTree Houston Intercontinental Airport Hotel is located minutes from George Bush Intercontinental Airport on JFK Boulevard and Beltway 8. Complimentary services provided to guests include: airport shuttle service, business center, parking, and wireless Internet access in all guest rooms and lobby. At check-in, each guest is welcomed with a warm legendary Doubletree chocolate chip cookie. For more information, visit www.hotelhoustonairport.com. The DoubleTree Houston Intercontinental Airport Hotel is a proud member of the Hilton family of hotels. Members of the Hilton HHonors a guest reward program will have the opportunity to earn Points & Miles ® for every qualifying stay at the Doubletree Hotel Houston Intercontinental Airport . Hilton HHonors is the only hotel program that allows any of its members to reap Double Dip a earnings by simultaneously accumulating both airline miles and hotel points with each qualifying stay. Driftwood Hospitality Management LLC, based in Jupiter, Florida , is one of the fastest growing independent hospitality management and development firms in the country today. Established in January 1999 by David Buddemeyer, Driftwood or its affiliates owns and/or manages more than 30 hotels comprising approximately 7,500 rooms throughout the U.S., The Bahamas and Central America. The company manages a variety of lodging types, from destination resorts to downtown convention hotels to suburban hotels and inns. Many of the company's hotels are affiliated with nationally recognized hospitality franchises, including Crowne Plaza , Holiday Inn, Doubletree, Radisson, Sheraton, Hampton Inn, Courtyard by Marriott, Wyndham Garden and Hotel Indigo. www.driftwoodhospitality.com . Media Contact: Making headlines at Driftwood Hospitality Management Driftwood Hospitality Announces Nine of its Properties to be Re-Flagged Jupiter, Florida – (April 24, 2007) - Driftwood Hospitality Management is pleased to announce their Bradford Suites properties will soon be answering to a different name. Seven Bradford Suites will be re-flagged as Summerfield Suites, and two will be re-flagged Staybridge Suites, all located in Texas and Colorado. All of the Bradford Suites will be undergoing various upgrades and renovations prior to being re-flagged. Special features will include upgrades to the lobby and public areas, renovated guest suites, bathrooms and corridors. Seven of the nine properties have begun guest room renovations, and all work is anticipated to be completed by the end of 2007. “The renovation of the Bradford Suites is essential in the re-flagging process. We are excited to introduce the Staybridge and Summerfield brand and feel the enhancements to the properties will provide a finer experience for our business and leisure guests”, said Carlos Rodriguez, partner and executive vice president of acquisitions/development for Driftwood Hospitality Management. Summerfield Suites, part of Hyatt Hotels & Resorts, will take over seven locations in Texas: Richardson/Plano, Downtown Dallas, Lincoln Park, Houston/Katy, Houston Galleria, and Austin/Northwest. Also set to be re-flagged as Summerfield Suites is the Bradford property in Colorado Springs, CO. Staybridge Suites, of Intercontinental Hotels Group, will take over the Bradford property in Addison/North Dallas, TX, as well as the property at the Denver Tech Center in Denver, C. Media Contact: Driftwood Hospitality and Carlyle Group announce The acquisition of the Holiday Inn Express in Nashville MIAMI, FL – (2/15/07) – Driftwood Hospitality Management and The Carlyle Group announce their recent acquisition of the 206-room Holiday Inn Express located at 1111 Airport Center Drive in Nashville, Tennessee. Serving as the hotels new General Manager is Chris Hannahan. Recently undergoing a $1.6 million renovation, guests are welcomed by a tumbled stone fireplace in the lobby that opens onto two charming courtyards where guest can enjoy an early breakfast. The limited-service Holiday Inn Express also features a fitness center, business center, and large outdoor pool. In addition, the hotel offers four conference/banquet rooms, a total of 2,421 square feet. “We are proud to have the Holiday Inn Express in our portfolio. This hotel has provided Driftwood an entry into the Nashville market, a location that has seen continuous growth and profitability,” said Carlos Rodriguez, partner and executive vice president of acquisitions/development for Driftwood. The Holiday Inn Express Nashville is conveniently located near the Nashville Airport and is an ideal location for both business and leisure travelers. The hotel is located in close proximity to the Grand Ole Opry, Opry Mills, The Hermitage- Home of President Andrew Jackson, and the new Country Music Hall of Fame. Driftwood Hospitality Management and Gencom Group to Acquire and Manage Strathallan Hotel in Rochester, NY ROCHESTER, NY- (01/31/07)– Gencom Group and Driftwood Hospitality Management have purchased the Strathallan Hotel located at 550 East Avenue in Rochester, New York. The new owners plan to immediately begin renovating all guest rooms and public areas of the property. Mr. Jay Rettberg will remain as General Manager of the hotel under the excellent management of Driftwood Hospitality Management. “The Strathallan Hotel is renowned for its great service, fine dining and relaxed ambiance,” said John Brooke, Vice-President of Asset Management of Gencom Group. “Through the combined development expertise and asset management expertise of Gencom and Driftwood, our goal is to create Rochester's preeminent boutique hotel.” At a recent employee meeting, the prospective owners expressed their confidence that the changes taking place, including the planned renovation, will help to improve the guest experience and better serve the Rochester business and leisure community. Throughout the renovation, the hotel will remain open and operating with great care taken to ensure that there will be as little impact as possible to the daily operations of the property and guest experience. The new owners were quick to reassure the hotel's staff, vendors and clients that there will be continuity in the overall operation with day to day management remaining in the hands of Jay and his executive team. “I am very excited about the future of the Strathallan,” said Jay Rettberg, General Manager. “With the upcoming renovation and the tremendous experience of our new ownership team, I am confident the best years of the Strathallan are yet to come.” Renovation plans include replacing all of the hotel's furniture, fixtures and equipment as well as all new soft goods in the guest rooms and public areas. Other potential upgrades include an expanded fitness center and the addition of a concierge floor. “Both Driftwood and Gencom are experts at buying, renovating and managing hotels to achieve peak performance. We are excited about the opportunity to own and manage the Strathallan Hotel and look forward to making it the most sought-after hotel in Rochester for both business and leisure travelers,” added David Buddemeyer, Principal of Driftwood Hospitality. Gencom Group Gencom has significant expertise and experience in the hospitality industry, having focused its activities primarily on the acquisition, ownership, development, leasing and management of hotel properties throughout the United States, Canada, Mexico, the Caribbean and Europe. Gencom's successful track record is proven by its ability to make astute acquisitions, turnaround distressed and under-performing assets, re-position and improve management, and implement creative financing strategies. Gencom's strategic vision, creative approach and entrepreneurial spirit have consistently produced excellent results. Gencom has invested in more than 100 hotel transactions over the past 17 years, and in so doing has achieved average returns in excess of two times return of capital. For more information, go to www.gencomgrp.com Media Contact: Beth Nelson/Marielise Garcia Driftwood Hospitality and Lehman Brothers Acquire Chicago Hotel for $100 Million Largest Deal in Driftwood Hospitality History CHICAGO, IL –(01/17/07) – Driftwood Hospitality and Lehman Brothers have just purchased the Radisson Hotel & Suites in Chicago for $100 million. The acquisition is Driftwood Hospitality's largest venture to date. The hotel, only half a block from the Magnificent Mile of Chicago, is located directly on Huron Street and Michigan Ave., in the middle of downtown Chicago's famous attractions, including the Navy Pier and Wrigley Field. “This hotel marks Driftwood's largest deal to date and we are honored to be once again working within the Chicago community,” said Carlos Rodriguez, partner and executive Vice President of acquisitions/development for Driftwood Hospitality Management . “The property will be undergoing a $10.5 million renovation, ensuring the landmark hotel maintains is stature in this thriving metropolis.” Currently the hotel hosts 350 guest rooms and 15,000 square feet of meeting and banquet space for business and social gatherings. Adjacent to the hotel, a 92,800 square foot medical office building serves the large community cared for by Northwest Memorial Hospital, located less than a mile away from the hotel. Driftwood Hospitality plans on expanding the medical offices in the near future. As of yet, Driftwood Hospitality has not finalized the hotel's new flag, maintaining the hotel independent is under consideration. Driftwood Hospitality Announces the Opening of Hotel Indigo Scottsdale MIAMI, FL – (01/15/07) – Driftwood Hospitality Management and InterContinental Hotels Group are pleased to announce the grand opening of the Hotel Indigo Scottsdale, a fashion-forward, boutique-style hotel. The 126-room, retail-inspired hotel, located near Scottsdale and Camelback roads, will represent the seventh location for the industry's first branded boutique hotel experience. “We are very excited to expand the Hotel Indigo brand within the Driftwood portfolio. Every aspect of Hotel Indigo is unlike anything the Valley has ever experienced before,” said Carlos Rodriguez, partner and executive vice president of acquisitions/development for Driftwood Hospitality Management. “It fills the void that exists in the market today between high-priced luxury hotels and lower-end affordable hotels.” For those leisure and business travelers who enjoy staying active while away from home Hotel Indigo offers an outdoor pool and a 24-hour health fitness center. In addition, the Hotel features WIFI throughout the property and a fully equipped business center. Guests can enjoy breakfast, lunch and dinner at the Hotel's Golden Beach Restaurant. Hotel Indigo Scottsdale aids to the strategic growth of Driftwood Hospitality in its continuing efforts to add branded boutique hotels to its portfolio. The Hotel is designed to appeal to lifestyle-focused guests who desire affordable luxury, genuine quality and an alternative to traditional hotels. The Hotel provides stylish accommodations and personalized service experience in a unique and intimate atmosphere. Driftwood Hospitality Announces Complete Renovations of Courtyard Chicago Wood Dale - Courtyard Chicago Wood Dale, undergoes $3.3 million in renovations - CHICAGO, IL – (November 13, 2006) – Driftwood Hospitality Management is pleased to announce the complete renovation of their latest acquisition, Courtyard Chicago Wood Dale. Renovations are set to begin March 2007 and will be complete by June 2007. Renovations will include guest-rooms and suites with costs exceeding $3 million. Driftwood's renovation plans will also include lobby, restaurant, meeting rooms and building exterior. An all-new 24-hour food service for guests, “ The Market” will be Wood Dale's newest addition. “Adding the Courtyard Chicago Wood Dale to Driftwood's portfolio is a great achievement for us,” said Carlos Rodriguez, partner and executive vice president of acquisitions/development for Driftwood Hospitality Management, “the renovations have been planned to bring the hotel up to its intended stature.” Located near O'Hare International Airport (ORD), the hotel offers easy access to Chicago-area highways and is only 30 minutes from downtown. Boasting an indoor pool and whirlpool, guests can enjoy Chicago Wood Dale's expanded exercise room. A jogging/ mountain biking trail are available nearby, as well as tennis courts. More than 1,500 square feet of meeting space is available for business meetings and catered events. Driftwood Hospitality Management Driftwood Hospitality Management LLC, based in Jupiter, Florida, is one of the fastest growing independent hospitality management and development firms in the country today. Established in January 1999 by David Buddemeyer, Driftwood or its affiliates owns and/or manages more than 44 hotels comprising approximately 8,900 rooms throughout the U.S., The Bahamas and Central America. The company manages a variety of lodging types, from destination resorts to downtown convention hotels to suburban hotels and inns. Many of the company's hotels are affiliated with nationally recognized hospitality franchises, including Crowne Plaza, Holiday Inn, Doubletree, Radisson, Sheraton, Hampton Inn, Courtyard by Marriott, Doubletree, Wyndham Garden and Hotel Indigo. Media Contact: Marielise Garcia
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