The 146-room property is expected to complete construction in October 2002.  The owner spent three years developing the concept, design, construction and guest experience of the hotel, which includes an affordable pricing structure that represents real value for the guest.  Located in Dallas� trendy uptown hotel district, which includes the Mansion on Turtle Creek, Crescent Court and Melrose hotels, the Hotel ZaZa will target business travelers, groups and weekend leisure travelers.  The property will feature one of the nation�s finest restaurants, a high-energy bar, a spa and fitness center, substantial meeting space and highly designed and themed suites.  

�The ZaZa is the next generation of uniquely designed hotels,� said Mark van Hartesvelt, partner of Gemstone.  �However, we plan to offer more than just great design.  Rather than a boutique or �hip� hotel, the Hotel ZaZa is a �lifestyle� hotel that is almost mystical, always memorable, as well as business-friendly.  While we certainly will operate it as a trend-setting hotel, we will bring a new, higher level of attentive service not generally associated with this type of property.  Our goal is for our guests to never want to leave the hotel.  We plan to break the mold for management just as the owner has done in the design.  We will introduce new concepts consistent with our expertise and generate a special aura for this unique property.�

�Our background of success in managing complex and unique properties matches up perfectly with the owner�s concept and goals,� said Jeff McIntyre, Gemstone principal.  �We will give the Hotel ZaZa a unique personality through concepting, training, service and attention to detail.  Every aspect of the property, from the restaurant to the swimming pool, will work harmoniously within the total concept.  Gemstone and the management systems we bring will be the thread that holds the fabric of the hotel together.  Our goal is to make the Hotel ZaZa the talk of the industry for years to come in terms of its operations, friendliness and profitability.�

Headquartered in Park City, Utah, Gemstone is a full-service operating and asset management company that specializes in luxury and upscale hotels and complex resorts that include a variety of components such as hotels, restaurants, retail, resort amenities such as beach, golf or skiing, time-share and other hospitality-related activities. The company is engaged in resort and unique hotel marketing and management, asset management and consulting for such well-regarded hotel real estate investors as the Arden Group, Olympus and others.  Gemstone currently manages or asset manages 15 projects in Arizona, California, Colorado, Florida, New Mexico, Utah, Vermont and Washington.