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The Tremont Boston Hotel Receiving $6 million Renovation,
Will be Re-flagged Boston Tremont
Courtyard by Marriott

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MCLEAN, VA, September 27, 2004 - Highland Hospitality Corporation (NYSE:HIH), a lodging real estate investment trust, or REIT, announced today the signing of a definitive agreement with Marriott International, Inc. (NYSE:MAR) to re-flag the Tremont Boston Hotel located in Boston, Massachusetts to the Boston Tremont Courtyard by Marriott hotel, beginning in early 2005.  Marriott International will begin management of the property under a long-term agreement on October 16, 2004.  Highland acquired the property as part of a four-hotel portfolio from Wyndham International, Inc. on August 19, 2004.
 
James L. Francis, Highland’s President and CEO, stated, “We are excited about our plans to re-flag the Tremont Boston Hotel and look forward to working with Marriott International to realize the potential of this asset as an urban Courtyard hotel.  We plan to invest in excess of $6 million in order to bring this property in line with the high quality standards of the Courtyard brand.” 

Chad Waetzig, senior vice president of select service lodging for Marriott International, said, “We are excited to work with Highland to welcome this landmark hotel situated in the middle of Boston’s vibrant downtown into our Courtyard system.  Bringing the Tremont hotel into our Courtyard portfolio expands our collection of historic hotels to 17, and fits 


Tremont Boston Hotel
275 Tremont St 
Boston, Massachusetts
well with our strategy of building the brand in prime urban locations.”

The 322-room Tremont Boston Hotel is situated in downtown Boston in the heart of the city’s Theater District.  The hotel is centrally located near Boston’s financial district and government center, and within walking distance to Boston Common, Newbury Street, Faneuil Hall Marketplace and the Back Bay. 

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 currently owns 17 hotel properties with an aggregate of 4,952 rooms in ten states. 

MARRIOTT INTERNATIONAL, INC. (NYSE:MAR) is a leading lodging company, managing and franchising nearly 2,800 lodging properties across 18 brands in the United States and 69 other countries and territories. 

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: Wyndham Redevelops Art Deco Skyscraper in Boston to a Flagship Hotel / Jan 1999
Wyndham Boston Opens after a $40 Million Redevelopment / Aug 1999


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