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The Landis Group Opens the Residence Inn Princeton,
New Jersey; Paramount Hotel Group
Operates the Property

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PRINCETON, N.J., May 17, 2005 — The Landis Group, a private investment and real estate development firm, today hosted the grand opening of the new Residence Inn by Marriott at Carnegie Center.  In addition to providing a tour of the 120-suite hotel, the hotel’s owner, along with civic officials, cut a $10,000 “community commitment” ribbon, which was donated to the nearby Bristol Myers Squibb Children’s Hospital.  Paramount Hotel Group, a third-party, independent hotel management and ownership group, will operate the property. 

“For a hotel to be truly successful, it has to be a dynamic part of the community,” said Alan Landis, principal of The Landis Group.  “Symbolically, this ribbon ties our hotel to the community, which will be followed by our active participation in the future success of our community.  You will find the staff at Residence Inn at Carnegie Center not only friendly and helpful to our guests, but also to our neighbors.” 
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Photo (from left to right)—David Simon, CEO Paramount; Phyllis Marchand, Mayor of Princeton
Township; Allan Landis, principal of The Landis Group; Shing-Fu Hsueh, mayor of the town of
West Windsor; Scott Landis, vice president of The Landis Group; Patricia Montahaue, vice
president of the Bristol Meyers Squibb Children’s Hospital at Robert Wood Johnson University
Hospital in New Brunswick
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Located at 3563 U.S. Route 1, Residence Inn Princeton is in the Carnegie Center Office Park, an upscale office park with more than 3 million square feet of space.  The property features 120 studio, one-bedroom and two-bedroom suites, an indoor swimming pool and fitness center, an outdoor “SportCourt” and picnic area.  The hotel’s upscale hearth room/lobby also is the site of a weeknight dinner/social hour and complimentary breakfast buffet each morning. 

“This hotel is the culmination of years of planning and represents a new phase in the development of the area,” said David Simon, Paramount chief executive officer.  “The hotel is ideally located near many local corporations, as well as Princeton University.  We plan to take full advantage of the setting, in order to become a leading upscale, extended-stay hotel in this market.” 

The Residence Inn at Carnegie Center will cater to guests who typically stay five nights or longer, as well as shorter-stay guests.  “The hotel is designed for both corporate and leisure travelers,” said Denise Bradshaw, general manager.  “Our hotel provides significantly more space than conventional hotel rooms and amenities for our guests in which to work and relax.   This is particularly appealing to those who are on the road for extended assignments or are traveling with families and want larger accommodations.” 

The Landis Group, which was founded 1967, has developed, owned or operated well in excess of 15 million square feet of class-A real estate in the Northeast.  The Landis Group is best known for two of its developments: Carnegie Center, a 560-acre office and mixed-use development in Princeton, N.J.; and the Tower Center Office and Hotel complex in East Brunswick, N.J.  Alan and Scott Landis currently run The Landis Group.

Paramount Hotel Group, founded in 1999, is a mid-sized, independent hotel management and ownership group.  The company currently manages and/or has ownership interests in 30 properties, with more than 3,750 rooms, primarily under the Marriott, Hilton and Park Inn flags, as well as independent hotels. 
 

Contact:

Chris Daly
(703) 435-6293

Also See: Paramount Hotel Group Now Has Management or Ownership Interests in 26 Hotels; Company Started by David A Simon, Former Chairman and CEO of Prime Hospitality Corp / Oct 2002
AMC Delancey Group, Inc. and Paramount Hotel Group Acquire the 167 room Southpoint Hotel in Jacksonville, Florida / April 2004


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