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Will Invest an Additional $7.0 million to Reposition |
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The 283-room Radisson Hotel Mount Laurel is situated within Mount Laurel Township, approximately ten miles east of Downtown Philadelphia and an estimated 17 miles from Philadelphia International Airport. The hotel is within close proximity to several corporate office parks that host such companies as Lockheed Martin, Commerce Bank, Okidata and Cendant Mortgage. The property contains approximately 12,000 square feet of flexible meeting space and provides such amenities as a heated outdoor pool, high-speed internet access, guestroom suites and a concierge level. Highland plans to invest an additional $7.0 million to reposition the hotel and upgrade the guestrooms, meeting space, restaurant, lounge and other common areas. 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 now owns 15 hotel properties with an aggregate of 4,451 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 |