SALISBURY, Md. - March 25, 2004 -- Marshall Management, Inc., a leading mid-sized management company, today announced that it has signed four new management agreements. It brings to five the number of new management contracts signed by the company in 2004. The hotels include a Wingate Inn and Holiday Inn Express Hotels & Suites in Destin, Fla., a Quality Inn in Gainesville, Fla., and a Comfort Suites in Laurel, Md.

"All four properties are in great locations and will benefit from our proprietary operating systems and marketing programs," said Michael Marshall, president of Marshall Management. "We continue to see tremendous interest on the part of owners who have lost patience with operators who have not performed well the past three years. Owners don't want to miss the upside opportunities that are beginning to appear as the economy recovers and are seeking experienced operators that can continue to control costs while maximizing profitability."

Marshall noted that the company has significantly enhanced its infrastructure to handle accelerated growth. "Our goal is to add five to 10 additional new contracts in 2004, and we obviously are well on our way. We continue to seek full-service and limited-service properties, in urban, suburban and resort settings."

The four properties are:

Wingate Inn-Destin -- Scheduled to open this summer, the 94-room property is located at 117 Palms Street. The hotel attracts both business and leisure travelers and offers free high-speed Internet access; 24-hour access to self-service business center; complimentary expanded continental breakfast; fitness center and whirlpool; boardroom and meeting rooms and a swimming pool. Marshall Management will provide pre-opening services in addition to day-to-day hotel operations when the hotel opens.

Holiday Inn Express Hotel & Suites-Mid Bay Bridge -- The three-story property offers 74 hotel rooms and 28 suites. Located at 108 Hutchinson Street, near the intersection of State Route 99, the hotel is in close proximity to the beach and features a swimming pool and offers free continental breakfast.

Quality Inn-Gainesville -- Situated at exit 382 on I-75, the property offers 89 rooms. The pet-friendly hotel's amenities include a fitness center, swimming pool, and complimentary deluxe continental breakfast.

Comfort Suites at Laurel Lakes -- Conveniently located between Washington, D.C. and Baltimore off of I-95, the 119-suite property offers a fitness center heated indoor swimming pool, and a refrigerator in every room. With more than 1,300-square feet of meeting space, the hotel can accommodate functions of up to 100 people. In addition to hotel management services, Marshall Management will oversee a nearly $1 million renovation of the hotel.

Marshall Management, founded in 1980, has special expertise in operating three- and four-star branded hotels and resorts, averaging 100 to 400 rooms, in urban and central business districts, suburban/drive-to and resort locations. In addition, the company has a proven track record operating independent resort properties. Located in Salisbury, Md., the company has managed a wide array of leading hotel brands, including Hilton, Sheraton, InterContinental Hotel group, Choice and Cendant.