|(San Francisco, CA) --- April 19, 2006 - Ashford Hospitality Trust,
Inc. (NYSE: AHT) has acquired the AAA four-diamond 338-room Pan Pacific
San Francisco in San Francisco, California.
Due to the change in ownership, there has been a management transition
between Pan Pacific Hotels and Resorts and J. W. Marriott, which will took
place, today, on April 19, 2006.
According to Yasuyuki (Yasu) Nakata, Director and Executive Vice President
for Pan Pacific Hotels and Resorts, "Since taking over management of the
500 Post Street property in 1990 from John Portman, the renowned hotel
architect, Pan Pacific Hotels and Resorts has been committed to the renowned
style of service and community relations and will be looking at opportunities
in the future to maintain a presence in the Bay Area."
Pan Pacific Hotels and Resorts has made a great impact on the community
throughout its sixteen years in the marketplace and is proud of the team
of associates that have been trained over the years. Additionally
with a corporate inspired commitment to contributions to the arts, social
causes and education, to name a few, Pan Pacific San Francisco has become
a respected partner in the local hospitality industry.
With development and acquisitions coming in the near future, both in
North America and in Asia, Pan Pacific Hotels and Resorts currently encompasses
22 hotels (14 managed properties and 8 marketing affiliates) in 11 countries
in Asia, the Pacific and North America. New projects in various stages
of development include hotels in Seattle, Washington and Chang Mai, Thailand,
both of which open in October 2006, as well as several additional projects
in the Asia region.
Pan Pacific Seattle will introduce an innovative concept of High-touch,
High technology, setting a new standard for excellence in the Pacific Northwest.
As Seattle's new elite, urban destination, the hotel will also feature
160 high-style Hirsch Bedner-designed guest rooms; wireless broadband connectivity;
a library lounge offering cocktails and light snacks; full service fitness
center; 5,405 square feet of function space; and 24-hour private dining.
Located at 2200 Westlake, the development is part of a 550,000-square-foot
mixed-use project occupying a prime location just four blocks from Seattle's
Central Business District.
The newly redeveloped Pan Pacific Chiang Mai will be the second property
that Pan Pacific manages in Thailand and is just 10 minutes from the Chiang
Mai International Airport. This hotel will feature signature Pacific Floors,
which will be served by a dedicated Pacific Lounge providing daily complimentary
breakfast, evening cocktails and refreshments. The 300 spacious deluxe
guest rooms, all over 44 square meters, will be equipped with a state-of-the-art
in-room entertainment system, broadband Internet connectivity and luxurious
bathrooms with Jacuzzi baths. Restaurant and dining facilities include:
an all day dining restaurant; a specialty restaurant featuring both local
and international cuisine; a roof top cocktail lounge; and Japanese fine
dining at Keyaki. Other amenities include meeting space and banquet rooms,
all equipped with modern technology, an Executive Centre with 24-hour business
and concierge services, two swimming pools as well as a luxury health club
Nakata comments, "In addition to the aforementioned projects, Pan Pacific
is looking at additional opportunities throughout Asia and North America."
As one of the most respected hotel brands in Asia, Pan Pacific Hotels
and Resorts is currently in the process of building its brand in North
America. Currently, the company boasts four other properties in the
United States and Canada and will be looking at North America for future
Pan Pacific Hotels and Resorts currently encompasses 22 hotels (14 managed
properties and 8 marketing affiliates) in 11 countries throughout Asia,
the Pacific and North America.
The highly regarded Pan Pacific Vancouver, a Five Diamond Hotel and a hallmark
of the Vancouver market since its opening.
The legendary Mauna Lani Bay Hotel & Bungalows on the Big Island of
Two superb mountain resorts in Whistler, British Columbia, Canada: the
Pan Pacific Whistler Mountainside; and the recently opened Pan Pacific
Whistler Village Centre, both having earned great praise since opening
in 2000 and 2005 respectively.