Hotels & Hospitality News

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Portsmouth, NH – Lodging Econometrics (LE), the Industry Authority for Hotel Real Estate, in its third quarter report to the Lodging Industry reduced its Supply Side Forecast for New Hotel Openings in 2007 to 1,087 projects having 115,956 rooms, a decrease of 3,470 rooms over its most recent estimate, said Patrick Ford President. LE also reduced its final estimate for '06 to 775 projects having 80,951, a decrease of 4,796 rooms.

"The forecast reductions are a result of ongoing discussions with developers where they reported continued problems completing projects on budget and on time," said Ford. "Although cost pressures on some building materials are abating and more construction crews are available there is still considerable redesign and reengineering required to make projects fit within original budgetary estimates."

These delays in New Supply coming on-line create a "silver lining" for the industry, and mean that 2007 should be another strong record breaking revenue and profit year. It furthers means that it will not be until '08 before growing pipeline totals have any meaningful impact on industry wide operating results, albeit from very high levels. As is typical late in a development cycle, '08 will see a larger flow of luxury, upper upscale and casino projects come on line — mostly in CBD locations, the suburbs of larger cities, and in resort destinations.

The Total Pipeline Continues to Grow

New Project Announcements into the Pipeline rose to 521 projects/70,466 rooms in 3Q; a quarter over quarter (QoQ) increase of 147 projects. After accounting for cancellations and postponements and 188 New Openings in 3Q, the Total Pipeline grew to a cyclical high of 3,570 projects with 489,380 rooms. That's a near doubling off the low established in 4Q03.

Ford said, "Many developers commented on an improved outlook for development. They were encouraged by the Fed holding steady on interest rates and with the recent declines in the price of oil, both of which serve to offset some concerns about a retreat in consumer spending brought about by sharp declines in the residential housing market.

These are positive signals for developers and suggest that Development Pipeline growth may extend further into the decade even as they remain cognizant that projects announced today won't open until late in the operating cycle.

LE Identifies Seven Trend Setting Markets As Bellwethers

The industry-wide rate of growth for both ADR and RevPar will peak in '06 and then begin to moderately taper. However, the rate of demand growth has already peaked in '04.

Year to date (YTD) operating results through August show that seven significant markets are nearing historical occupancy highs. Many first lead the recovery, are now beginning to experience modest declines in demand growth and will rely most on ADR increases for improved financial results in the future. Yet, they will have stronger than average pipelines to absorb through the end of the decade.

Accordingly, LE has identified these bellwether markets to monitor: Las Vegas, Miami, New York, Orlando, Philadelphia, Tampa and Washington.

Some are resort destinations, but they all rely on leisure travel and are, therefore, dependent on the discretionary spending of consumers. If not already experiencing some fall off in leisure demand, they are likely to in the future and will necessarily begin to make pricing adjustments.

They are bellwether markets to monitor because changes in leisure demand and/or difficulty absorbing new supply will pinpoint the peak of the industry wide operating cycle, and signal the shift towards a soft landing for operations.


Lodging Econometrics (LE) of Portsmouth, NH is the industry authority for hotel real estate. LE's Development Pipeline databases contain individual project records for Hotel, Condo Hotel and Timeshare development worldwide.

LE can provide individual record for every actively pursued hotel project – in each stage of construction – for every region and country of interest to you – throughout the world. Receive important project details including contact information for the developer along with his latest project start and completion dates for:

New Construction Projects
Hotels with Residences
Reflaggings
Condo Hotels
Announced Renovations
Timeshare Projects
Casino Projects
Serviced Apartments
LE can customize a series of Lodging Development Summaries displaying project and guestroom counts for each region, country and city, company and brand, developer group, star rating (chain scale), size and type of hotel, and for other criteria important to you. Plus, LE provides a Supply Side Forecast of New Openings for 2006, 2007, and 2008 and beyond.

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WHITE PLAINS, NY, October 26, 2006 – Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT):

Third Quarter 2006 Highlights

— Excluding special items, EPS from continuing operations was $0.68 compared to $0.58 for the third quarter of 2005. Including special items, EPS from continuing operations was $0.71 compared to $0.18 in the third quarter of 2005.

— Worldwide System-wide REVPAR for Same-Store Hotels increased 9.2% compared to the third quarter of 2005. System-wide REVPAR for Same-Store Hotels in North America increased 7.5% when compared to the third quarter of 2005.

— Worldwide REVPAR for Starwood branded Same-Store Owned Hotels increased 11.7% compared to the third quarter of 2005. REVPAR for Starwood branded Same-Store Owned Hotels in North America increased 10.6% when compared to the third quarter of 2005.

— Margins at Starwood branded Same-Store Owned Hotels in North America and Worldwide improved approximately 190 and 110 basis points, respectively, when compared to the third quarter of 2005.

— Management and franchise revenues increased 71.4% when compared to 2005, including revenues from the Le Méridien hotels and the hotels sold to Host.

— The Company signed 33 hotel management and franchise contracts (representing approximately 7,400 rooms). Through the first nine months of 2006, the Company signed 94 hotel management and franchise contracts (representing approximately 23,800 rooms).

— Excluding residential sales, contract sales at vacation ownership properties increased 13.5% when compared to 2005. Reported revenues from vacation ownership and residential sales increased $22 million when compared to 2005. Strong increases in revenues from vacation ownership sales were partially offset by a decline in residential sales.

— Excluding special items, income from continuing operations was $148 million compared to $131 million in the same period of 2005. Net income, including special items, was $155 million compared to $39 million in the third quarter of 2005.

— Total Company Adjusted EBITDA was $328 million when compared to $347 million in 2005. The year over year reduction is due to the sale of 51 hotels since the beginning of the third quarter of 2005 and stock based compensation expense, offset in part by increases in management and franchise revenues.

— During the third quarter, the Company repurchased approximately 9 million shares at a cost of $477 million. Through the first nine months of 2006, the Company repurchased 21.1 million shares at a cost of $1.229 billion.

Starwood Hotels & Resorts Worldwide, Inc. ("Starwood" or the "Company") today reported EPS from continuing operations for the third quarter of 2006 of $0.71 compared to $0.18 in the third quarter of 2005. Excluding special items, EPS from continuing operations was $0.68 for the third quarter of 2006 compared to $0.58 in the third quarter of 2005. Excluding special items, the effective income tax rate in the third quarter of 2006 was 21.2%. The effective tax rate includes benefits realized in connection with the sales of several hotels in unconsolidated joint ventures.

Income from continuing operations was $155 million in the third quarter of 2006 compared to $40 million in 2005. Excluding special items, which net to a $7 million benefit in 2006, income from continuing operations was $148 million for the third quarter of 2006 compared to $131 million in 2005.

Income from continuing operations for the third quarter of 2006 as compared to 2005 was impacted by four major items:

— Operating income was impacted as a result of the sale of 51 hotels since the beginning of the third quarter of 2005. These hotels had $14 million of revenues and $11 million of expenses (before depreciation) in 2006 as compared to $344 million of revenues and $247 million of expenses (before depreciation) in the same quarter of 2005. These hotels generated approximately $29 million of management and franchise revenues in the third quarter of 2006.

— The Company implemented SFAS 123(R), "Share Based Payment," on January 1, 2006 which resulted in approximately $12 million of non-cash stock option expense.

— Vacation ownership and residential operating income increased by approximately $8 million. Vacation ownership operating income increased $23 million while residential income declined by $15 million.

— The Company recorded interest income of $13 million as a result of the collection, in full, of a mezzanine note, together with interest which had been reserved. Net income was $155 million and EPS was $0.71 in the third quarter of 2006 compared to net income of $39 million and EPS of $0.17 in the third quarter of 2005.

Steven J. Heyer, CEO, said, "I am extremely pleased with our results for the third quarter. All of our business units are performing on all cylinders and we expect this strength to continue into 2007 and beyond.

Systemwide REVPAR increased 9.2% in the quarter, with strength across all our brands. At our owned hotels, North America branded REVPAR was up an industry-leading 10.6% and margins improved 190 basis points as strong ADR growth coupled with productivity improvements drove strong flowthrough. Our fee business continues its impressive growth, with managed and franchise revenues up 71.4%. Even after adjusting for the Host and Le Méridien transactions, we delivered 24.2% growth. Our vacation ownership business also exceeded our guidance as contract sales were up 13.5%, and reported revenues increased 43.1%.

Just as our brand initiatives resonate with the consumer, they are resonating with developers around the world, helping drive our pipeline growth as they increasingly turn to Starwood's brands for their hotel projects. We have signed 94 hotel deals, and opened 41 hotels year-to-date. We are on track to exceed our target for 50 hotel openings in 2006.

During the third quarter, we bought back 9 million shares of our stock, and since announcing the Host transaction last November, we have bought back $1.5 billion in stock. This is in addition to the $2.8 billion we returned through the Host transaction earlier this year and $276 million in dividends. With our impressive free cash flow generation and balance sheet strength, we have significant capacity to continue returning value to shareholders through our dividend policy and share buybacks while continuing to invest in the growth of our business.

We are optimistic that we will turn in another year of strong growth in 2007: Supply growth remains below its long-term trendline and the demand outlook is favorable, our business fundamentals remain very strong, and we expect these trends to continue."

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Washington, D.C. - 10/30/2006- Ten hotels and six restaurants attained the hospitality industry's highest rating for 2007: the AAA Five Diamond Award. The total 151 AAA Five Diamond Award winners for 2007, which includes 93 hotels and 58 restaurants, comprises just 0.25 percent of the nearly 60,000 AAA Rated properties across the United States, Canada, Mexico and the Caribbean.
First-time Five Diamond hotels for 2007 include two properties in Las Vegas and one each in Ojai, Calif.; Miami; Greensboro, Ga.; Farmington, Pa.; Kiawah Island, S.C.; Teton Village, Wyo.; Nuevo Vallarta, Mexico; and Playa del Carmen, Mexico. New restaurant winners for 2007 include two establishments in Chicago and one each in Phoenix; Healdsburg, Calif.; Washington, DC; and Las Vegas. For more information on AAA Diamond ratings and the complete list of 2007 Five Diamond Award winners, visit AAA.com/Diamonds.

The Four Seasons Resort Jackson Hole, a 2007 Five Diamond hotel, marks the state of Wyoming's first entry to the AAA Five Diamond Award list.

Just three lodgings have maintained the distinction as AAA Five Diamond Award winners for 31 consecutive years, since the Diamond ratings were first applied to hotels: Camelback Inn, A JW Marriott Resort & Spa in Scottsdale, Ariz.; The Broadmoor in Colorado Springs, Colo.; and The Greenbrier in White Sulphur Springs, W.Va.

Just two restaurants have maintained the Five Diamond Award for 19 consecutive years, since the Diamond ratings were first applied to restaurants: Le Bec-Fin in Philadelphia and The Inn at Little Washington Dining Room in Washington, Va.

"Important aspects of quality service are consistency and hospitality," said Michael Petrone, director of the AAA Diamond Rating program. "These five establishments have maintained the Five Diamond level of service excellence longer than other establishments in the industry. That's an amazing achievement."

INTERESTING FIVE DIAMOND AWARD TRENDS

- Chicago is now the leading destination for Five Diamond dining. It has seven Five Diamond restaurants with the addition of Alinea and the Avenues restaurant in the Peninsula Chicago.

-Las Vegas doubled its number of Five Diamond hotels from two to four, adding the Skylofts at the MGM Grand Hotel and Wynn Las Vegas, indicating the city's continued development as a premiere luxury destination. Las Vegas also has four Five Diamond restaurants (Alex, Joel Robuchon at The Mansion, Le Cirque, and Picasso)

- Scottsdale, Ariz., a city of just 237,000 residents and 67 hotels, has four Five Diamond hotels -- the Camelback Inn, A JW Marriott Resort; the Phoenician; the Four Seasons Resort Scottsdale at Troon North; and the Fairmont Scottsdale Princess -- on par with Las Vegas and more than Chicago, Miami, San Francisco, Washington, DC, and the entire state of Hawaii.

To become AAA Approved and Diamond rated, hotels and restaurants undergo a thorough inspection by one of AAA's 65 full-time, highly trained professional evaluators. Five Diamond establishments complete a more extensive review that includes a series of inspections and final committee review. Some 60,000 hotels and restaurants will be listed in the 2007 TourBook guides, in print and on AAA.com, where the Diamond ratings are published.

AAA first started listing accommodation information in its travel publications in the early 1900s. In 1937, the first field inspectors were hired to inspect hotels, motels, and restaurants. In 1963, AAA began to rate all accommodations as good, very good, excellent or outstanding. The Diamond Rating Process, introduced in 1977 for hotels and 1989 for restaurants, continues to be recognized as the most trusted rating process for North American travelers.

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CARROLLTON, Texas - Accor North America, one of the largest hotel chain owners and operators in North America, announced a partnership with the Ohio Rehabilitation Services Commission (RSC) to maintain employment positions for individuals with disabilities. Administered by the Ohio RSC, the Governor's Initiative on Jobs for People with Disabilities is a grant program that offers economic development projects that create job opportunities for people with disabilities.
"This initiative is a wonderful opportunity for all parties involved," said Larry Daniel, Senior Vice President, Accor North America Contact Centers. "Accor will continue to employ individuals with disabilities as it has done for years. But now, as a result of the grant, everyone will have the chance to be trained on state-of-the-art equipment."

Accor received a state grant in the amount of $49,910 to update and enhance its call center training facilities in Columbus and Springfield, Ohio. Updates for the facilities will include new video projection and audio equipment, including a document camera and multimedia sound system that will be installed in each training room. Plasma monitors will be set up to promote internal communications and video conferencing capabilities will be expanded through the installation of advanced technology equipment.

Accor's Columbus and Springfield call centers have been hiring individuals with disabilities since its opening in 1996, and participating in the Governor's Initiative makes it possible to provide further opportunities for qualified applicants. The Ohio call center handles approximately 3.6 million calls per year for all Accor brands including Sofitel, Novotel, Ibis, Red Roof Inn, Studio 6 and Motel 6. To date, 25 individuals work in the call centers that were referred to Accor by agencies affiliated with RSC.

"We are excited about updating our training facilities with the advanced technologies we utilize in other areas of our contact centers," said Steve Rossin, Senior Manager of Training and Quality, Accor North America Columbus, Ohio Contact Center. "A majority of the grant funding is allocated towards updating our training facilities at both centers along with a substantial amount earmarked towards the expansion of our video conferencing capabilities."

The RSC, Ohio's vocational rehabilitation agency, instituted a Governor's Initiative Program in 1994 that partners with Ohio businesses to create job opportunities for people with disabilities. In return for recruiting qualified applicants with disabilities over a three year period, businesses receive state grants to purchase equipment.

About Accor North America

Headquartered in Dallas (Carrollton), Texas, Accor North America operates more than 1,200 upscale and economy properties including nationwide economy leaders Red Roof Inn, Studio 6 and Motel 6 and the upscale Sofitel and mid-scale Novotel and Ibis hotel locations in the U.S., Canada and Mexico. For more information, visit www.accor-na.com.

About Accor Worldwide

Accor, European leader in hotels and tourism, global leader in corporate services, operates in nearly 100 countries with 160,000 employees. It offers to its individual and corporate clients nearly 40 years of expertise in its two core businesses:

- Hotels, with the Sofitel, Novotel, Mercure, Suitehotel, Ibis, Red Roof Inn, Etap Hotel, Formule 1, Studio 6 and Motel 6 brands: over 4,000 hotels and 475,000 rooms in 90 countries, as well as strategically related activities, such as Lenotre;

- Services to corporate clients and public institutions: 21 million people in 35 countries benefit from Accor Services products - meal and food vouchers, people care, incentive and loyalty programs.

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West Hartford, November 2, 2006 - Konover Hotel Corporation today announced its acquisition of a portfolio of fifteen hotels in the Midwest from Focus Hospitality Services of Valparaiso, Indiana. An affiliate of Focus is remaining in the deal as a joint venture partner of Konover Hotel Corporation, which will manage the hotels.
The portfolio comprises 15 limited service hotels built within the last six years totaling 1,103 guest rooms. The hotels are franchised primarily with the Holiday Inn Express and Hampton Inn brands, and they are strategically located at key interstate highway locations and also in areas with strong corporate and tourist/leisure business.

"Konover's goal was to strategically grow their hotel portfolio particularly by establishing a presence in the Midwest and this acquisition supports our mission," said Peter H. Mason, CHA, Vice President of Konover Hotel Corporation. "These hotels represent high profile brands and market leaders in their areas, and they complement our existing portfolio."

With this acquisition, Konover Hotel's portfolio now includes twenty hotels in five states, including the Sheraton Hotel at Bradley International Airport.

Headquartered in West Hartford, Connecticut, Konover Hotel Corporation acquires, develops and manages hotels and hospitality properties throughout the United States for affiliated and third party owners. Its mixed portfolio includes franchised and independent limited and full service hotels and exposition facilities. Konover Hotel Corporation is a division of Konover Properties Corporation and a member of the Simon Konover Companies.

"The entire Konover organization is energized by this acquisition," continued Mr. Mason. "The entire hotel group is excited by this significant step in strategic growth."

Konover Properties Corporation operates throughout the United States. Konover Properties develops, builds, acquires, manages, and owns real estate across many market segments, including hotels, residential, office and commercial, retail, mixed use, and specialty properties.

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MEMPHIS, Tenn., November 2, 2006 - More than six years, 27 saved landmarks, hundreds of hotel volunteers and $2 million dollars later, Hampton? Hotels (www.hampton.com) today was presented with the National Preservation Honor Award - the first hotel chain ever recognized by The National Trust for Historic Preservation for its sustained efforts as part of its Explore the Highway with Hampton, Save-A-Landmark? program. The National Trust for Historic Preservation presented its prestigious award to Hampton as part of its week-long 2006 National Preservation Conference in Pittsburgh, Pa.
Each year, the National Preservation Honor Awards are bestowed upon 21 entities for activities advancing preservation efforts and ensuring that historic buildings, areas and landmarks are protected and live on for future generations.

"It's quite humbling to be part of this elite group," said Judy Christa-Cathey, vice president, Hampton brand marketing. "We never imagined when we began our Save-A-Landmark program that we would be honored by The National Trust for Historic Preservation. We credit this honor to the power of the people of Hampton - from housekeepers, maintenance staff, front desk associates, General Managers, hotel owners, landmark owners to community leaders - and share this distinction with every one of these individuals. Together we help preserve treasured pieces of America."

From helping the 80-foot Blue Whale in Catoosa, Okla., to repairing a 100-year-old carousel in New Orleans damaged by Hurricane Katrina, the Save-A-Landmark program has spent the past six years preserving historical, fun and cultural landmarks across the U.S. During this time, the program has helped research unique locations in need of updating, promoted historical sites and their importance, facilitated thousands of volunteer hours. Additionally, the initiative has donated hundreds of supplies, hired contractors and worked to provide matching grants - all at an investment of $2 million. Banding its hotels together in communities across the U.S., Hampton employee-volunteers provide the labor while the corporate office provides the monetary funds and resources to refurbish selected sites. Since its inception, the program has come to the assistance of 27 landmarks.

Local Hampton team members are key to the Save-A-Landmark program's success. Responsible for painting, cleaning and landscaping, as well as other preservation and beautification efforts, the ongoing refurbishment provide an outlet for Hampton volunteers to get involved maintaining important landmarks in their own backyards.

Hampton Hotels hopes to restore a landmark in every state by 2010. Hampton helps to refurbish approximately five landmarks a year, with sites being identified through the brand's research team or local landmark enthusiasts who submit their nominations via www.hamptonlandmarks.com .

This year's individual winners include: Amoskeag Millyard, Manchester, N.H.; Cadillac Hotel, Seattle, Wash.; Children's Museum of Pittsburgh, Pittsburgh, Pa.; First Security Bank, Salt Lake City, Utah; Hawaii Theatre Center, Honolulu, Hawaii; Henry Ford Museum's Rosa Parks Bus, Dearborn, Mich.; Mather Tower, Chicago, Ill.; North Dakota State University School of Visual Arts & Architecture, Fargo, N.D.; Socorro Mission, El Paso, Texas; Southwest School of Art and Craft, San Antonio, Texas; Trinity Church, Boston, Mass.; Vulcan Park, Birmingham, Ala.; Wentworth-by-the-Sea Hotel, New Castle, N.H.; and 90 West Street, New York, N.Y.

The National Preservation Awards are bestowed upon distinguished individuals, nonprofit organizations, public agencies and corporations whose skill and determination have given new meaning to their communities through preservation of our architectural and cultural heritage. These efforts include citizen attempts to save and maintain important landmarks; companies and craftsmen whose work restores the richness of the past; the vision of public officials who support preservation projects and legislation in their communities; and educators and journalists who help Americans understand the value of preservation.

About Hampton Hotels

Hampton, which includes Hampton Inn and Hampton Inn & Suites hotels, is a mid-priced leader in the lodging segment. Hampton is part of Hilton Hotels Corporation, a leading global hospitality company with more than 2,800 hotels and 490,000 rooms in more than 80 countries, including 150,000 team members worldwide. The company owns, manages or franchises a hotel portfolio of some of the best known and most highly regarded hotel brands, including Hilton?, Conrad?, Coral by Hilton?, Doubletree?, Embassy Suites Hotels?, Hampton Inn?, Hampton Inn & Suites?, Hilton Garden Inn?, Hilton Grand Vacations , Homewood Suites by Hilton?, Scandic and The Waldorf=Astoria Collection. The Hilton Family of Hotels adheres to founder Conrad Hilton's philosophy that, "It has been, and continues to be, our responsibility to fill the earth with the light and warmth of hospitality." The company put a name to its unique brand of service that has made it the best known and most highly regarded hotel company: be hospitable?. The philosophy is shared by all 10 brands in the Hilton Family of Hotels, and is the inspiration for its overarching message of kindness and generosity. Hilton Hotels Corporation's sponsorship of the U.S. Olympic Team will extend through the 2008 Olympic and Paralympic Games in Beijing, China, and includes the 2008 U.S. Paralympic Team(s) and the 2007 U.S. Pan-Am Team. For more information about our company, please visit www.hiltonworldwide.com, and to learn more about our be hospitable philosophy, please visit www.behospitable.com .

About The National Trust for Historic Preservation The National Trust for Historic Preservation is a private, nonprofit membership organization dedicated to protecting the irreplaceable. Recipient of the National Humanities Medal, the Trust was founded in 1949 and provides leadership, education, advocacy, and resources to save America's diverse historic places and revitalize communities. Its Washington, DC headquarters staff, six regional offices and 26 historic sites work with the Trust's 270,000 members and thousands of local community groups in all 50 states.

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MEMPHIS, Tenn., November 2, 2006--Davidson Hotel Company (DHC), one of the nation's largest hotel management companies, today announced that it had become one of the first independent management companies to receive the new designation of "Preferred Operator" by Hyatt Hotels & Resorts. Davidson will be one of only a handful of top-tier hotel operators to receive the designation, which will be required to become a third-party operator of Hyatt properties.
"Davidson has demonstrated that it is in an elite class of operators with the proven expertise and systems to maintain Hyatt's exacting standards in operations and guest service," said Steve Goldman, Hyatt's executive vice president of acquisitions and development. "They recently acquired, in a joint venture partnership with Amstar Group, our Hyatt Regency Newport, Rhode Island. We look forward to working with them to enhance the brand and the hotel's profitability."

"We are honored to be chosen as the first Preferred Operator by Hyatt, and together with Amstar, we intend to deliver the quality and high guest satisfaction in Newport that distinguishes the brand from other luxury hotels," said John A. Belden, Davidson's president and chief executive officer. "We will continue, as a Preferred Operator and franchisee for Hyatt, to aggressively seek other acquisition and development opportunities to bring to the Hyatt system."

About Global Hyatt Corporation

There are 217 Hyatt branded hotels and resorts (over 90,000 rooms) in 44 countries around the world, operating under the Hyatt, Hyatt Regency, Grand Hyatt and Park Hyatt brands. Currently, there are an additional 32 Hyatt hotels and resorts under development, including 11 new hotels in China. Hyatt Corporation (domestic U.S., Canada and Caribbean hotels) and Hyatt International Corporation (international properties) are subsidiaries of Chicago-based Global Hyatt Corporation. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc. operators of the Hyatt Vacation Club (timeshare and fractional residential product), Hyatt Equities, L.L.C. (hotel ownership), Select Hotel Group L.L.C. (which owns, operates and franchises AmeriSuites hotels, Hyatt Place and Hyatt Summerfield Suites hotels) and U.S. Franchise Systems, Inc. (which franchises Hawthorn Suites, and Microtel Inns and Suites).

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SILVER SPRING, Md. (November 13, 2006) -Choice Hotels International, Inc., (NYSE:CHH) today announced that the company has selected LRA Worldwide, Inc. to provide a quality assurance program at all of its 4,100-plus domestic franchised hotel properties beginning in early April 2007. LRA Worldwide has extensive experience in the hospitality industry and possesses a demonstrated strength and consistent approach for designing and conducting quality assurance programs.
LRA has a customer-centric approach to quality assurance and brand assurance, which includes employing only full-time professional consultants, all of whom have operations experience within the hotel industry. Its consultants are known for their professionalism, knowledge of the brands they support and their brand standards, and their strong hospitality backgrounds. LRA has a strong working knowledge of Choice and its brands as it currently provides quality assurance reviews for the 250-plus properties in the Choice Hotels Canada system and over 40 properties in Europe.

"After a comprehensive analysis process, we selected LRA Worldwide as our partner in this initiative due to the firm's 20-year track record of providing world-class quality and brand assurance programs for the hospitality industry," said Alexandra Jaritz, vice president, property level performance, Choice Hotels. "Outsourcing the quality assurance process will instill confidence in our franchisees that the process is an objective, consistent one across all brands and properties. Utilizing LRA for quality assurance will also enable our field-based operations personnel to focus their efforts entirely on optimizing property-level brand performance, boosting hotel revenue, and driving more guests to each property."

"Choice's leadership conducted a very thorough discovery process, and we are gratified that their research pointed to LRA as the best strategic partner for this initiative," said Ted Fisch, director of business development for LRA Worldwide. "It is a testament to our team of professional hospitality consultants and their ability to not only administer world-class quality assurance programs for our clients, but to also help them strengthen their brands."

About Choice Hotels

Choice Hotels International franchises more than 5,200 hotels, representing more than 430,000 rooms, in the United States and more than 40 countries and territories. As of June 30, 2006, 687 hotels are under development in the United States, representing 53,765 rooms, and an additional 65 hotels, representing 5,993 rooms, are under development in more than 20 countries and territories. The company's Cambria Suites, Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites and Suburban Extended Stay Hotel brands serve guests worldwide. Additional corporate information may be found on the Choice Hotels Internet site, which may be accessed at choicehotels.com.

About LRA Worldwide

LRA Worldwide, Inc. is a leading consulting company that specializes in Customer Experience Management (CEM). LRA helps companies and brands design and deliver the optimal customer experience across all key touch points using an integrated suite of services including Quality Assurance & Mystery Shopping, Customer Experience Strategy Design, Standards Development & Content Management, Organizational Development & Training and Customer and Employee Research. LRA specializes in "operationalizing the brand" - turning brand promise and customer strategy into operational reality. In addition to its work in hospitality, LRA serves clients in the sports, entertainment, healthcare, financial services, travel and retail industries as well.

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TORONTO, November 15, 2006. Fairmont Hotels & Resorts, a global leader in responsible travel, today announced that it has partnered with the World Heritage Alliance, a joint initiative of the United Nations Foundation and Expedia, Inc., to promote conservation, sustainable tourism, and economic development for communities located in and around World Heritage sites. This endeavor marks the latest in a series of high profile efforts by the company to strengthen its Green Partnership program, the company's comprehensive commitment to environmental stewardship.

"We are excited to welcome Fairmont Hotels & Resorts to the World Heritage Alliance," said Kathy Bushkin, executive vice president and chief operating officer of the UN Foundation. "As one of the world's leading hotel chains, we congratulate them for their leadership in shaping the way future travel can strengthen and sustain World Heritage sites and the communities that surround them."

"We are pleased to welcome Fairmont Hotels & Resorts to the World Heritage Alliance," said Lloyd Johnson, SVP of Partner Services Group Americas at Expedia, Inc. "The support of a leading hotel in green travel strengthens the work of the alliance. Together with our partners, Expedia and the World Heritage Alliance can promote sustainable tourism as a way of preserving the world's treasures and enhancing travelers' experiences."

Leading this new partnership for the luxury hotel brand will be the Fairmont Mayakoba, an ecologically diverse resort located on Mexico's Yucatan peninsula, which has been paired with a local tourism network from the nearby Sian Ka'an Biosphere Reserve and World Heritage site. Community Tours Sian Ka'an, (CTSK) is an award-winning tourism service alliance of three tour operators that conduct tours in designated areas, and work closely with the park managers of Sian Ka'an to ensure minimal environmental impact. Above all, CTSK donates a percentage of its revenue directly to conservation efforts in the reserve.

"As a true leader in environmental stewardship, we realize that sustainable tourism must have a positive impact on the environment, the traveler, and the local community," says Jeff Senior, Fairmont's senior vice president marketing & sales. "Innovative programs of this nature provide us with a means to enrich our guests' experiences and showcase the destination's heritage and culture, while allowing us to partner with the local community to develop smart and sustainable business endeavors."

At the heart of the new initiative, guests of the Fairmont Mayakoba will experience the amazing natural and cultural history of the Mayan people and help to ensure that World Heritage sites are protected for all travelers now, and in the future, to enjoy. In turn, the resort will provide assistance in the area of economic development, working with CTSK to encourage guests to visit the Reserve and thereby generate revenue for the communities of Sian Ka'an.

The Sian Ka'an Biosphere reserve comprises 1.3 million acres of tropical ecosystems and is home to 23 different archaeological sites of pre-Columbian Mayan culture. According to Ian Robinson, General Manager for the Fairmont Mayakoba, "The Mayan people have lived in the areas surrounding the Reserve for centuries and have a fascinating cultural heritage. By working with these communities we can offer our guests a unique and sustainable travel experience."

Fairmont Hotels & Resorts is a leader in sustainable tourism and was the first major hotel chain in North America to embrace environmental stewardship in its daily operations through the implementation of its own Green Partnership Program. The program focuses on improvements in the areas of waste management, energy and water conservation, as well as a strong element of community outreach through local groups and partnerships.

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About the World Heritage Alliance
The World Heritage Alliance works to support World Heritage conservation, sustainable tourism, and local economic development for communities in and around World Heritage sites. The UN Foundation and Expedia, Inc. created the World Heritage Alliance in the fall of 2005. For more information, visit: www.worldheritagealliance.org.

About Fairmont Hotels & Resorts
Featuring a collection of fabled castles, secluded lodges, storied meeting places and modern retreats, Fairmont Hotels & Resorts opens the doors to some of the world's most celebrated addresses. With locations throughout ten countries, our 50 distinctive hotels - including The Fairmont San Francisco, The Fairmont Banff Springs and London's Savoy - promise travelers rich experiences and lasting memories in unparalleled settings. Committed to growing its portfolio of world-class hotels, Fairmont will soon reflag four hotels in Kenya and anticipates the 2007 re-opening of New York's famed Plaza Hotel. Future Fairmont Hotels & Resorts also include locations in Cairo, Abu Dhabi, Vancouver and South Africa. Fairmont Raffles Holdings International owns and operates over 120 hotels worldwide under the Fairmont, Raffles, Swissôtel and Delta brands, as well as vacation ownership properties managed by Fairmont Heritage Place.

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The Woodlands (Houston), Texas, November 2006 ... Benchmark Hospitality International has appointed Bill Upshaw as vice president with regional responsibilities for resorts, hotels and conference centers. Sam Haigh, president and chief operating officer, made the announcement.

"It is with great pleasure that we welcome Bill to Benchmark's senior management team," said Mr. Haigh. "He is an accomplished, highly motivated and results-driven hospitality professional with strong and diverse experience in all phases of hospitality operations."

Mr. Upshaw recently served as vice president of operations for Crestline Hotels and Resorts. In this position, he implemented operational initiatives and strategic direction that resulted in the doubling of the company's management portfolio of resorts, hotels and conference centers during his tenure there.

Prior to Crestline, Upshaw served as general manager, vice president of food & beverage, and regional vice president of operations for Durbin Hotels. He started his career with Marriott Hotels, holding positions of increasing responsibility and earning recognition as food & beverage director of the year and later general manager of the year.

Bill Upshaw received his Bachelor's Degree from Baylor University and attended the graduate program at the University of Texas. He and his family reside in The Woodlands, Texas.

Benchmark Hospitality International, an independent hospitality management company based in The Woodlands (Houston), Texas, operates resorts, conference centers, hotels and condominium resorts both domestically and internationally.

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WASHINGTON, DC, Nov. 15 – Higher prices for hotel rooms, rental cars and airfares will not keep families home this Thanksgiving, according to AAA. AAA estimates that 38.3 million Americans will travel 50 miles or more from home this holiday, a 2.7 percent increase from last year's 37.3 million travelers.

"Airports and highways will be busier than ever," said AAA CEO and President Robert L. Darbelnet. "Higher prices for hotel rooms, rental cars and airfare have increased, but that will not keep people from traveling."

Approximately 31.7 million travelers (82.8 percent of all holiday travelers) expect to go by motor vehicle, a 2.6 percent increase from the 30.8 million who drove a year ago.

Holiday auto travelers will find gas prices nationwide currently averaging $2.23 for a gallon of self-serve regular gasoline—about nine cents lower than this time last year.

"Americans will take advantage of the fact that gas prices have been falling for the past several months," said Darbelnet. "They might have foregone the summer family vacations because of high gas prices, but extended family get-togethers and lower gas prices will encourage Americans to get back on the road."

AAA expects 4.8 million (12.5 percent of holiday travelers) Americans to travel by airplane, up 3.2 percent from the 4.6 million that flew last Thanksgiving holiday. A projected 1.9 million travelers (5 percent) will go by train, bus, or other mode of transportation, up slightly from 1.8 million a year ago.

"With new security measures and crowded airports, travelers should leave extra time for check-in and security," said Darbelnet. "Travelers should educate themselves on new security restrictions before leaving home in order to avoid throwing away expensive liquid products and other restricted items." Also, travelers should consider visiting tsa.gov for the latest airport conditions before leaving home, as weather often affects departure times.

Despite paying less at the pump, travelers will face much higher prices for hotels, airfares and car rentals, according to AAA's Leisure Travel Index. Holiday hotel rates are up 16 percent for AAA-Rated Three Diamond hotels, as strong demand allows hoteliers to increase rates that they raised last Thanksgiving, too. Expect higher rates for rental cars, as well, with an average increase of 21 percent. With an average 4 percent increase from last year, air fares will be more costly, but travelers won't see the extreme price hikes they will experience with hotel and car rental rates.

The greatest number of Thanksgiving auto travelers will originate in the Southeast with 9.1 million, followed by the West, 7.2 million; Midwest, 6.7 million; the Great Lakes, 6.2 million; and the Northeast, 2.4 million.

The Southeast and the West are expected to produce the largest number of air travelers with 1.3 million each, followed by the Midwest with 789,000; the Northeast with 772,000; and Great Lakes with 643,000.

Hot water heaters will be working overtime, as 69.5 percent of Thanksgiving travelers expect to stay at a friend or relative's home. Hotels and motels are a distant second at 16 percent, followed by cabin/condo, 4.5 percent; camper/trailer/RV/tent, 2.4 percent; other, 3.6 percent; no overnight stay, 2.6 percent; and didn't know, 1.4 percent.

Small towns and rural areas are the expected destination for 45.3 percent of Thanksgiving travelers, followed by cities, 35 percent. Mountain areas should see 8.3 percent of travelers, followed by oceans and beaches with 5.2 percent of travelers; 2.3 percent for lake areas, 0.6 percent for state/national parks and 0.3 percent for theme/amusement parks. Another 2.0 percent responded with other.

Several AAA online offerings can help travelers with their holiday journeys. AAA's Internet TripTik© and TourBook® guides put comprehensive trip planning resources at AAA members' fingertips through www.AAA.com. AAA offers public access to its online trip planning tool through www.AAAmaps.com.

Research for Thanksgiving holiday travel is based on a national telephone survey of 1,500 adults by the Travel Industry Association of America, which conducts special research for AAA.

As North America's largest motoring and leisure travel organization, AAA provides its nearly 50 million members with travel, insurance, financial and automotive-related services and member-only savings. Since its founding in 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for the safety and security of all travelers.

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NEWTON, Mass. - Questex Media Group, a global, diversified business-to-business media company and publisher of Hotel & Motel Management and Hotel Design magazines, announced it will manage HotelWorld—the Nevada Hotel & Lodging Assn.'s annual industry gathering held in Las Vegas focusing on hotel and resort design, development and operations.

HotelWorld will be held at the Las Vegas Convention Center, Sept. 18-20, 2007. Hotel owners, operators, and managers from around the world will experience high-quality conference programming developed by Hotel & Motel Management and Hotel Design editors, view product and service trends first-hand on the show floor from the industry's top suppliers and manufacturers, and conduct business at the show easily with the help of appointment-setting software.

Located in Las Vegas, the setting for HotelWorld is ideal. Participants can easily explore the latest hotel designs and openings in Las Vegas, the spot where trends are set in the hospitality industry and home to some of the world's top hotels and resorts.

"We are excited about our relationship with Questex to bring the hotel industry HotelWorld, which we pledge to be a one-of-a-kind, highly-valuable, internationally-focused experience for hotel professionals worldwide," said Van V. Heffner, president & c.e.o. of the Nevada Hotel & Lodging Assn. "We chose to partner with Questex because of their extensive tradeshow management expertise and their deep, long-rooted history in serving the hotel and hospitality market with their flagship title Hotel & Motel Management magazine."

Gillian Murphy, chairman of the Nevada Hotel & Lodging Association and Corporate Director of Hotel Operations at Harrah's Entertainment Inc. adds, "We look forward to showcasing the Las Vegas community to the international hotel world. We welcome you with open arms to come to HotelWorld and experience the Las Vegas hospitality industry."

"Hotel & Motel Management is proud to present this world-class event", remarked John McMahon, group publisher, Hotel & Motel Management. "I couldn't imagine any other city to build the world's largest hotel show than in the hotel and hospitality capital of the world. Las Vegas sets the trends in design, development and operations and is the perfect setting to bring the hotel industry together. And, most importantly, it is a cost effective destination for attendees and exhibitors to do business."

"With more than 133,000 hotel rooms in Las Vegas, the environment is perfect for HotelWorld," said Chris Meyer, v.p. of Convention Center Sales, Las Vegas Convention & Visitors Authority. "We are anxious to do our part in promoting and delivering a successful event."

HotelWorld is aligned closely with Questex's Hotel & Motel Management magazine, which has been delivering news, analysis and operational strategies to its faithful audience of more than 57,000 hotel owners, general managers and other hotel management for nearly 132 years; Hotel Design magazine, the award-winning magazine celebrating the design excellence of hotels, resorts, lodges and destination spas; and the International Hotel Investment Forum (IHIF) held in Berlin, which is the leading meeting place for the European hotel investment community. In addition, Questex manages numerous leading travel industry publications and tradeshows including Premier Hotels & Resorts, Luxury Travel Advisor and Travel Agent magazines and Luxury Travel Expo and Incentive Travel Exchange.

For more information on HotelWorld, please visit www.hotelworldexpo.com.

About the Nevada Hotel & Lodging Assn.

The Nevada Hotel & Lodging Assn. (www.nvhotels.com) is the unifying voice of Nevada's hospitality industry. Serving Nevada since 1979, this trade association represents more than 200 hotel casino resorts statewide including 18 of the world's top 20. With approximately 120,000 rooms and over 200,000 employees NHLA proudly promotes, protects and educates on behalf of Nevada's giant tourism industry.

About Questex Media Group

About Questex Media Group, Inc. (www.questex.com) Questex serves multiple industries including technology, beauty, travel, hospitality, leisure, home entertainment, industrial and specialty services through a range of well-established, market-leading publications, events, interactive media and integrated marketing services. The company's properties include 25 trade publications, 70 Web sites and 25 conferences and tradeshows. Questex is headquartered in Newton, Mass., and has more than 400 employees in offices throughout North America, South America, Asia and Europe.

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ATLANTA (Nov. 16, 2006) - InterContinental Hotels Group (IHG) [LON: IHG, NYSE:IHG (ADRs)], the world's largest hotel group by number of rooms, announces the development of a new Crowne Plaza prototype designed to meet demands of the emerging marketplace, both from the developers' and the guests' perspectives.
"We are very pleased to announce this prototype and view it as a further growth opportunity for the Crowne Plaza brand," said Kevin Kowalski, vice president, Brand Management, Crowne Plaza Hotels & Resorts. "Conversions will always play a role in the Crowne Plaza development strategy. This prototype allows us to respond to the shift in the development landscape which creates a ripe new-build opportunity for emerging markets," said Kowalski.

Through collaboration with Lane Hospitality, a hotel real estate and management company, the brand created a prototype designed with both owners and guests in mind. The physical plan is scalable to accommodate different site constraints and markets and incorporates "best practices" for a larger meetings hotel.

"We were excited to have the opportunity to work with the Crowne Plaza brand in the development of this prototype," said Bill Chambers, senior vice president, Business Development, Lane Hospitality. "I believe that together we have created a design plan that will be cost-effective to developers and meet the needs of today's travelers. As the developer of the first prototype hotel, we have chosen a site that will enable it to become a fixture of the community and an important addition to the lodging choices in the area for the upscale corporate and leisure traveler," said Chambers.

Crowne Plaza also recognized the prototype as an opportunity to apply consumer research from professional meeting planners and guests on design and efficiency. One of the brand's most significant findings uncovered how today's business traveler likes to meet and conduct business.

"While traditional meetings that occur in our designated meeting space are critical, guests also desire the flexibility and control to conduct business throughout all areas of the hotel, both formally and informally," said Kowalski. "We leveraged this customer insight to make the public space design modern, efficient and relevant to today's traveler. For example, the lobby area and lounge contain soft seating with adjacent hard surfaces, power sources and WIFI to accommodate smaller, informal meetings and individuals working outside their rooms" said Kowalski.

Through such thoughtful use of space, the new prototype allows the brand to fully execute "THE PLACE TO MEET" positioning. Design elements for the prototype's designated meeting space include: natural light in all rooms; movable partitions/walls to create a variety of flexible space; multi-zone, controllable lighting; ergonomic chairs; and technology such as backlit projection screens and WIFI access.

The prototype guestrooms allow the guest to sleep well and work efficiently. Furniture, fixtures and equipment are designed for comfort and function and replicate the residential design found in today's homes. Guestrooms will provide business traveler-friendly amenities, including an interactive flat screen television with laptop plug-in; ergonomic chair and mobile workstation; task lighting; multiple convenient power sources; and WIFI access.

The first Crowne Plaza Prototype is scheduled to open first quarter 2008, in Milwaukee, WI. The property is owned by KL Hotel, LLC and managed by Lane Hospitality, under a license agreement with a company in the InterContinental Hotels Group.

About Crowne Plaza Hotels & Resorts

As part of the InterContinental Hotels Group global portfolio, Crowne Plaza Hotels & Resorts has 258 hotels in 48 countries, and are located in major urban centers, gateway cities and resort destinations. Crowne Plaza was recently recognized by Lodging Hospitality magazine as one of the industry's top growing brands. For reservations at Crowne Plaza properties, visit www.crowneplaza.com or call 1-800-2CROWNE.

Crowne Plaza Hotels & Resorts participates in Priority Club Rewards. With more than 30 million members, Priority Club? Rewards is the first, largest and fastest-growing guest loyalty program in the hotel industry. Winner of the 18th Annual Freddie Awards hotel loyalty "Program of the Year" and named "Best Hotel Rewards Program in the World" by Global Traveler magazine, Priority Club Rewards offers more sought-after benefits and the greatest ease of use of any hotel loyalty program.

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BEIJING | Best Western International, Inc. today announced its accelerated growth plan for China under the leadership of William Dong, president and CEO of Best Western China Company Ltd. The company currently has 17 hotels in China with 12 formal agreements for new development in place, making Best Western the fastest-growing hotel company in the nation.

“Best Western’s worldwide distribution and internationally recognized brand are the primary reasons developers are attracted to this successful global brand,” says William Dong. “The flexibility of Best Western’s business model is attractive to developers and is the catalyst for the brand’s rapid expansion in China and throughout Asia. We offer superior distribution, sales & marketing, operations support and reservations service. We also allow owners the flexibility to run their hotels they way they prefer and we don't require them to report revenues or show us financial statements. All of these advantages open the door for rapid expansion.”

“China is the fourth-largest business travel market in the world and the opportunities for Best Western’s expansion are tremendous,” said David Kong, president and CEO of U.S.-based Best Western International. “The key to our development strategy is to engage people from the region who have the business relationships and market familiarity. William Dong has impeccable credentials as China’s former foreign affairs officer and brings a wealth of experience in hotel development making him an excellent choice to oversee Best Western’s expansion here.”

Best Western’s focus for growth includes: Shanghai, Beijing, Guangzhou, Xian, Nanjing, Kunming, the Pearl and Yangzi River Deltas and Baohai Bay. The company expects to have 60 hotels offering 10,000 rooms by 2009. All hotels will be top-rated properties at the four- and five-star level serving the needs of both business and leisure travelers.

About Best Western International | Best Western International is THE WORLD'S LARGEST HOTEL CHAIN® with more than 4,200 hotels in 80 countries. The hotel company is celebrating its 60th Anniversary as a membership association of independently owned and operated hotels that provides worldwide marketing, reservations and operational support to its members.

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PHILADELPHIA, Pa., November 16, 2006—Hersha Hospitality Management, a hotel management company of over 50 nationally franchised, midscale and upscale hotels in the eastern United States, today announced that Thomas D. Reese has been named president of the company. All of the company's operational and administrative functions at the corporate and property levels will be under Reese's leadership.

Reese spent the majority of his 28 year career in executive operations with Marriott International, most notably as general manager of the 1,824 room Marriott Marquis in New York City from 1984 to 1993, and subsequently, as senior vice president responsible for management of more than 100 hotels for all Marriott brands in the New York, Mid-Atlantic and Northeast Region (including New York City, Pennsylvania, Maryland, Connecticut and Delaware). Among his many contributions and awards at Marriott, Reese established their Japanese and European markets and was twice named Marriott's General Manager of the Year. Reese initially joined Marriott as a controller for full-service hotels, and ultimately, for the Northeast Region, including New York City.

Reese more recently has served as executive vice president of operations at Interstate Hotel Corporation, overseeing a portfolio of more than 80 upscale, full-service hotels across all leading brands throughout the United States, Canada and Russia. His direct reports included five regional vice presidents of marketing, revenue management, quality programs, national sales, and food & beverage. Reese since has focused on development, investment and strategic assistance for hotel projects that range from repositioning and re-branding opportunities to the construction and purchase of new hotels. "Tom brings to Hersha Hospitality Management a wealth of experience and leadership in all facets of hotel management, particularly with respect to service excellence, full-service operations, food & beverage, and yield management," said Jay H. Shah, executive director of Hersha Hospitality Management. "He is a seasoned hotelier who will bolster our existing full-service capabilities and raise the bar with respect to our culture of operational and service excellence at every property under management. His experience in and understanding of New York will be invaluable to the growth of our fastest growing cluster, with five hotels under management in Manhattan, six hotels under management across Long Island, JFK Airport and northern New Jersey, and numerous other hotel development projects in New York City."

Reese earned a Bachelor of Science Degree from St. Joseph's University in Philadelphia, Pa., previously served for three years as chairman of the Times Square Business Improvement District, and currently serves on the board of directors for the New York City Hotel Association, New York State Hotel Association, and the AXA Group of Insurance Companies.

Hersha Hospitality Management is a hotel management company providing operations and development services to upscale and mid-scale hotels with strong, national franchise affiliations in the eastern United States. The company currently provides hotel management services and asset management services to more than 50 hotels in the top markets in the nation, including metro Boston, Connecticut, New York City, New Jersey, Philadelphia, metro Washington D.C., and Atlanta. For more information, please visit www.hershahotels.com.

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement.