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Delaware North Companies Asserts Hospitality Business
Approach To Its Acquistion of Delta Queen
Steamboat Company
BUFFALO, N.Y., May 6, 2002 - Delaware North Companies, a global leader in hospitality, retail and food service, announced today that it was the successful bidder for the assets and business of the Delta Queen Steamboat Company, including the Delta Queen, Mississippi Queen and American Queen steamboats.  These three vessels are part of a successful river cruise business that serves overnight passengers and pays tribute to the era of the great American paddlewheel steamboat.
 
The flagship boat, the Delta Queen, was built in 1926.  In its long and prestigious history, it served the United States in World War II, and in 1989, was designated as a National Historic Landmark.  The Delta Queen has hosted numerous luminaries including President Herbert Hoover, President Harry Truman, President Jimmy Carter and Princess Margaret.  The Mississippi Queen was placed in service during the bicentennial in 1976 and the American Queen was 

Delta Queen
placed in service in 1995. 

Delaware North Companies will acquire these vessels, and the Delta Queen Steamboat Company brand and business, following federal regulatory approval expected in the next 15 to 21 days.

The Delta Queen is 285 feet long and has 87 staterooms and capacity for 174 guests.  The American Queen is 418 feet long with 222 staterooms and capacity for 436 guests. The Mississippi Queen is 382 feet long with 208 staterooms and capacity for 422 passengers.

While each of the steamboats is unique, they share attention to a quality guest experience in a setting of Victorian elegance.  With a home port of New Orleans, the steamboats' routes vary in length and destination, but include historic journeys along the upper and lower Mississippi River, as well as "Wilderness Routes" that include voyages up the Ohio, Tennessee and Cumberland Rivers to Pittsburgh, Nashville and Chattanooga.

"We certainly are excited about the purchase of this historic and unique business," said Dennis Szefel, President of Delaware North Companies Hospitality and Entertainment Group.  "We look forward to bringing Delaware North's innovative and creative hospitality business approach to this new business line as we look to enhance and grow these operations in the future."

Delaware North Companies plans to keep the steamboats' base of operations in New Orleans, along with its reservation and sales center.  In addition, the company plans to interview and retain the majority of the operation's employees.

"We were very impressed with the local management and talent," added Szefel.  "Our hope is that we can preserve this operation's most valuable resource -- its employees.  Their knowledge of the rivers and the company's history, along with the exceptional skill it takes to operate these vessels, is incredibly important to the ongoing success of these operations."

Delaware North Companies is no stranger to the hospitality, travel and entertainment industries.  Delaware North Parks Services, one of the company's fastest growing subsidiaries, is a leading hospitality provider with significant experience in hotel, retail and food service operations.  The company's portfolio includes some of the most unique hotels, resorts and conference centers in the United States, including hotels in Yosemite and Sequoia National Parks and Asilomar Conference Grounds in California, Deer Creek Resort and Conference Center in Ohio, The Grand Hotel near the Grand Canyon, and Roaring River Inn and Conference Center in Missouri's Ozark Mountains.

When DNPS assumed the management of visitor services at Yosemite National Park in 1993, the company quickly became known in the industry for its innovative practices and management style.  Today, it continues its leadership position with national and state parks, but has also expanded its presence with a greater emphasis on hospitality and entertainment.  While DNPS has always managed hotels and resorts within client venues, the company became a hotel owner in its own right when it purchased Tenaya Lodge, a premier resort and conference center in California.  With $250 million in annual revenue, 2,500 guestrooms and 4,000 associates, DNPS has established itself as a leading hotel management company and an industry leader in the travel and entertainment marketplace.

The company's portfolio of locations includes Kennedy Space Center Visitor Complex, Yosemite, Sequoia and Grand Canyon national parks, Asilomar State Beach and Conference Grounds, Tenaya Lodge at Yosemite, The Grand Hotel, Niagara Reservation State Park, Jones Beach State Park, Deer Creek Resort and Conference Center, Jetty Park, Roaring River Inn and Conference Center, and the U.S. Mint locations in Philadelphia and Denver.  The company was recently awarded the retail contract at Yellowstone National Park, with operations commencing in 2003.

Delaware North Companies, Inc. is one of the world's leading hospitality and food service providers with six other operating units including American Park 'n Swap, CA One Services, Delaware North Companies International, Boston's FleetCenter, Sportservice and Sportsystems.  The corporation is one of the largest privately held companies in the United States with more than $1.6 billion in annual revenue and 25,000 associates serving millions of customers in the United States, Canada and the Pacific Rim.

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Contact
Delaware North Companies
http://www.delawarenorth.com


 
Also See Delaware North Parks Services Environmental Management Program Earns Registration Under ISO 14001 / December 2001 


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