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John Q. Hammons to Build a Privately Financed, 320-room, Marriott Renaissance Hotel and Spa |
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Council gave staff the go-ahead to finalize a development agreement with the nation's top hotelier, Mr. John Q. Hammons, to build a privately financed, 320-room, four-diamond Marriott Renaissance Hotel and spa, with a projected opening of fall 2006. The addition of this luxury property will more than double the number of hotel rooms in Glendale and begin to meet the demand for luxury properties in the swelling West Valley. The 12-story property will be managed by Springfield, Mo.-based John Q. Hammons Hotels, Inc. (AMEX:JQH), the nation's leading independent builder, developer, owner and manger of upscale, full-service hotels, resorts and suites. The city and Mr. Hammons also are expected to partner to build an adjacent 80,000-square-foot conference center, with a parking garage to be built by the city. The land immediately West of the Glendale arena was purchased by the city from Ellman Companies. "Glendale developed its world-class arena with the intent of attracting this kind of high-quality hotel development," said Mayor Elaine Scruggs. "We are honored to partner with one of the nation's foremost developers on a project that will truly be an asset to Glendale and the state of Arizona." "As Glendale continues to experience impressive growth, there is an increasing desire for a full-service convention center hotel to meet the needs of the correlating meetings and tourism traffic," said Mr. John Q. Hammons, founder, chairman and chief executive officer of John Q. Hammons Hotels, Inc. "I am confident that the consistently exceptional experiences and overall performance associated with the Renaissance and John Q. Hammons Hotels brands will exceed both guests' and the city's expectations." The Renaissance Hotel and spa will serve as a premiere venue during national events such as the 2007 Fiesta Bowl National Championship and 2008 Super Bowl. The conference center will also serve as a year-round activity center with state-of-the-art technology that makes it a preferred location for media centers and other high-profile uses. Westgate currently has 1,000 rooms planned on-site. This property sets the bar for future luxury hotel development. About John Q. Hammons Hotels, Inc. Publicly traded on the American Stock Exchange (AMEX:JQH), Springfield, Mo.-based John Q. Hammons Hotels, Inc. is the nation's leading independent builder, developer, owner and manager of upscale, full-service hotels, resorts and suites, including: Embassy Suites Hotels, Renaissance, Marriott, Radisson, Residence Inn, Homewood Suites by Hilton, Holiday Inn and Courtyard by Marriott brands. With 58 hotels strategically located near demand generators, such as state capitals, universities, airports, corporate headquarters or office parks in secondary and tertiary markets, John Q. Hammons Hotels' properties are dominant in their markets. The company's focus is capitalizing on positive operating fundamentals in the upscale, full-service sector, converting existing hotels to franchise brands and selling mature assets, while reinvesting the proceeds and reducing debt. Over the course of his impressive career in the hotel business, Mr. Hammons has developed 157 hotels. For more information about John Q. Hammons Hotels, Inc. please visit the company's Web site at www.jqh.com. |
| Contact: Website: www.jqh.com |