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The Swig Company Puts the  692-room
Fairmont Chicago Up for Sale
.
CHICAGO � January 24, 2005 � On behalf of The Swig Company, Jones Lang LaSalle Hotels has been appointed to market for sale the 692-room Fairmont Chicago. The hotel is ideally located in the heart of Chicago�s business district and a block away from the �Magnificent Mile,� one of the premier shopping and residential addresses in the nation. 
 
This award-winning hotel, renowned for exceptional services and amenities, is connected to the 2.3 million sq. ft Aon Center, the 120,000 sq. ft. Lakeshore Athletic Club and Waves Spa and features 62,000 square feet of meeting space with spectacular views of Lake Michigan, Millennium Park and Lakeshore East. It�s Aria Restaurant and Bar was named one of the �Best New Restaurants� by Chicago Magazine. The Fairmont Chicago benefits from a long-term management agreement. 

�The Fairmont Chicago represents a rare opportunity to purchase an irreplaceable


The Fairmont Chicago was built in 1985 - 
200 North Columbus Drive
Chicago, Illinois
trophy asset at a discount to replacement cost,� said Art Adler, managing director and CEO, Jones Lang LaSalle Hotels. �The $475 million Millennium Park continues to expand and is now an epicenter for the city�s major festivals and events. Given its proximity to major tourist attractions and diverse amenities, the hotel is well positioned to attract corporate, leisure and convention business. In addition, McCormick Place is on track for a record convention year in 2006, which will generate 2.2 million room nights.�

�The hotel is positioned to achieve RevPAR upside through strategic renovations, and improve margins through asset management, yield management and opportunities to close the ADR gap between the hotel and its luxury competition,� said Tom Fisher, executive vice president, Jones Lang LaSalle Hotels. �The Chicago MSA lodging market is currently at a cyclical low; offering an exceptional opportunity to acquire a strategic asset with the benefit of an improving economy and strengthening travel environment.�

About The Swig Company

The Swig Company (www.swigco.com) is a private investment company with over 60 years of history in development, ownership and management of commercial real estate properties in major markets in the United States.  The Company�s current real estate holdings are part of a diversified portfolio and include over 7 million square feet of office buildings in markets such as New York, San Francisco and Southern California, over 1,500 full-service luxury hotel rooms, approximately 650,000 square feet of industrial space, assorted other credit-leased properties and several land parcels.  The Swig Company�s primary investment mission is to add value to its investment portfolio through proactive asset-management, acquisitions, redevelopment projects, selective development projects and professional property management.

About Jones Lang LaSalle Hotels

Jones Lang LaSalle Hotels, the world�s leading hotel investment services group, provides clients with value-added investment opportunities and advice. 

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Contact:
Kristina Paider
   Jones Lang LaSalle Hotels
+1 312 228 2107
Also See: Swig Co., Which Co-developed the Chicago Fairmont Hotel in 1987, Buys Out its Saudi Partner; Transaction Values the Hotel at More than $150 million / July 2004
Trump International Hotel & Tower Chicago Claims Agreements in Hand to Sell 75% of the 461 Condominiums and 227 Hotel-condo Units for a Combined $515 million / October 2004


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