SALISBURY, Md., October 7, 2004 � Marshall Management, Inc., a leading, mid-sized hotel management company, today announced that it has signed seven new management contracts with two separate ownership groups.  The new contracts raise to 15 the total number of hotels Marshall Management has been selected to manage year to date in 2004.

Six of the seven hotels are owned by Independent Property Operators of America, LLC (IPOA), a real estate investment group.  The seventh property�a Holiday Inn Express currently under construction in Kent, Ohio�is owned by a private investment group and is expected to open in April 2005. 

The six-hotel IPOA portfolio includes four Comfort Suites and a Hampton Inn & Suites, all located in northern Indiana, and a Comfort Inn in North Carolina. 

�We have a long history and proven track record of operating hotels in the Midwest,� said Michael Marshall, president of Marshall Management.  �These hotels are well located, and we intend to immediately install our proprietary marketing and management programs to further enhance their profit potential.�

The portfolio includes the following seven hotels.

• Comfort Inn Fayetteville, Fayatteville, NC 120 rooms
• Comfort Suites Fort Wayne, Fort Wayne, IN 128 rooms
• Comfort Suites Lafayette, Lafayette, IN 62 rooms
• Comfort Suites Marion, Marion, IN 62 rooms
• Comfort Suites South Bend, South Bend, IN 135 rooms
• Hampton Inn & Suites Warsaw, Warsaw, IN 71 rooms
• Holiday Inn Express Hotel & Suites Kent, Kent, OH 74 rooms

Separately, Marshall Management announced that Trish Williams has joined the company as regional vice president of operations.  In her new position, she will be responsible for managing the company�s six IOPA properties.

Previously she was Director of Operations for Humphrey Hospitality, Inc., overseeing the IPOA properties. 

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 managing 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.