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Highland Hospitality Corporation Acquiring  the
202-room Courtyard Denver Airport Hotel for
$17.25 million, or $85,400 per room

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MCLEAN, VA, August 26, 2004 - Highland Hospitality Corporation (NYSE:HIH), a lodging real estate investment trust, or REIT, announced today the signing of a definitive agreement to acquire the 202-room Courtyard Denver Airport hotel.  The purchase price for the hotel is $17.25 million, or approximately $85,400 per room. The company expects to close on the hotel within the next 30 days.

James L. Francis, Highland’s President and CEO, stated, “We are very excited about our planned acquisition of the Courtyard Denver Airport.  This property fits well with our strategy to acquire upscale limited-service assets in urban and major airport markets.  The Courtyard Denver Airport is located near one of the busiest airports in the country and is situated just outside one of the fastest growing major cities in the United States.” 
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Courtyard Denver Airport
6901 Tower Road
Denver, Colorado
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Highland Hospitality Corporation is a self-advised lodging real estate investment trust, or REIT, focused on hotel investments primarily in the United States. The company owns 14 hotel properties with an aggregate of 4,168 rooms in eight states. 

Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

   

 
Contact:

Highland Hospitality Corporation 
www.highlandhospitality.com

Also See: The Embassy Suites Hotel Denver International Airport-Gateway Updates Facilities with a $4M Renovation Project / March 2002
Denver Report / 2002 National Lodging Forecast / Ernst & Young LLP / Feb 2002


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