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Joint Partnership of Kimpton and ING Clarion Investing $22 million into
the Former Holiday Inn Select, Alexandria, Virginia to Transform
the 227-room Property into The Hotel Monaco.
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SAN FRANCISCO (March 8, 2006) Kimpton Hotels & Restaurants Group, LLC, the leader in the boutique/lifestyle hotel segment, today announced plans to open the Hotel Monaco, Alexandria in historic Old Town Alexandria, Virginia, marking Kimptonís ninth hotel in the Washington metropolitan region. In a joint partnership, Kimpton and ING Clarion will invest approximately $22 million into the former Holiday Inn Select, to transform the 227-room property into a luxurious four-star Hotel Monaco. The project is slated for completion by mid 2007.
 
Conveniently located on King Street in the heart of historic Old Town Alexandria, Washington, DCís thriving commercial and residential submarket, the Hotel Monaco will be situated in an area renowned for its historic charm and variety of cultural attractions. Following the redevelopment, the property is expected to be the highest quality four-star hotel in Alexandria, and will feature 241 of Kimptonís signature, highly stylish guestrooms and suites, pool, health club and an adjacent chef-driven restaurant. The hotel will also offer over 8,000 square feet of meeting space, including a spacious new ballroom for upscale business and social events, catered by Kimptonís restaurant.

The property marks Kimptonís eighth Hotel Monaco, and the second 


the former Holiday Inn Select
to open in the metropolitan region, including the renowned historic Hotel Monaco Washington DC, originally constructed to house the cityís first General Post Office. 
 
ďGreater Washington D.C. has proven to be a highly successful market for Kimpton, said Mike Depatie, President of Kimpton. ďOur style of boutique hotels and level of personalized services is unparalleled in this region and the addition of another Hotel Monaco will further establish Kimptonís presence as a hospitality leader in this area.Ē
 
The Hotel Monaco Alexandria will be Kimptonís first hotel to open in Virginia.  Kimpton has previously announced plans to open the Hotel Palomar at Waterview in Arlington, Virginia, scheduled to open in 2008. Kimptonís Washington DC properties include the Hotel Monaco Washington DC, Hotel George, Topaz Hotel, Hotel Rouge, Hotel Madera, Hotel Helix, and the Hotel Palomar Washington DC, which is scheduled to open in late spring 2006. 
 
ABOUT ING CLARION
Founded in 1982, ING Clarion and its affiliates manage more than $30 billion in assets in the private equity, public equity, and public debt sectors of the real estate markets. Headquartered in New York, the ING Clarion organization has over 750 employees located in major markets throughout the United States. Additional information is available at www.ingclarion.com. 
 
ABOUT KIMPTON 
Founded by Bill Kimpton in 1981, San Francisco-based Kimpton Hotels & Restaurants is a unique collection of boutique hotels coupled with chef-driven, destination restaurants. While all Kimpton Hotels are thoughtfully appointed and managed to help guests maintain and enrich their lifestyles on the road, each is individually designed to reflect the energy, personality, and pulse of its distinct location, history, and architectural style. Featuring highly personalized guest services, comforting in-room amenities, and one-of-a-kind specialty rooms and suites, Kimpton Hotels provide travelers with welcoming atmospheres that embrace its signature elements of care, comfort, style, flavor, and fun. Kimpton takes pride in its social responsibility, supporting select like-minded partners and is a leader in ecological practices. Kimpton currently operates 40 boutique hotels with restaurants throughout the United States and Canada. This includes the recently acquired Caleo Resort & Spa in Scottsdale, Arizona and The Muse Hotel in New Yorkís thriving theater district.  In 2005, Kimpton launched the Hotel Solamar in San Diego and relaunch the Mayfair Hotel & Spa in Coconut Grove, Miami. Kimpton will debut the Hotel Palomar, Washington D.C. in mid-2006 and the Hotel Palomar, Dallas in July, 2006. Several additional projects are currently underway in Southern California, Texas, Florida, and Virginia.  For more information, please visit www.kimptonhotels.com or call 1-800-KIMPTON.
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Contact:

Jamie Law
Public Relations Coordinator
Kimpton Hotels & Restaurants
222 Kearny Street, Suite 200
San Francisco, CA 94108
(415) 955-5495

Jamie.Law@kimptonhotels.com
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Also See: The Architectural Transformation of the Tariff Building in Washington DC Puts Kimpton's Monaco Hotel in the National Trust Historic Hotels Program / April 2003
Kimpton's Acquisition Fund Acquires First Property, the Former Radisson Barcelo Hotel in Washington D.C.; Hotel Will Receive $32 million Renovation to Transform to Hotel Palomar / July 2005

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