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 HVS/American Hospitality Management Company Takes Over
As Interim Manager for the Hotel Icon, Houston, Texas
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Tiverton, RI — September 12, 2006 — HVS/American Hospitality Management Company has taken over the management of one of Houston’s most acclaimed hotels: the Hotel Icon, a 2006 AAA Four Diamond hotel.  This exclusive property is situated in the landmark Union National Bank building at the gateway to downtown Houston's arts & entertainment district.  Kirby D. Payne, CHA, President of HVS/American Hospitality Management Company, made the announcement.

The hotel features 135 guestrooms and nine penthouse suites; as well as Bank, a Jean-Georges Vongerichten restaurant; The Lobby Loft bar; and the BALANCE Day Spa.  Hotel ICON is a member of Preferred Hotels & Resorts Worldwide, Inc.

The term of the management agreement is unusual in that the hotel is under contract for sale to a well known hotel and resort owner operator.  If the sale is consummated as expected HVS/American Hospitality Management Company will manage the hotel for less than 60 days.  The sale is being facilitated by HVS Capital Corp, the investment banking division of HVS International.  Michael Sullivan, Managing Director, is personally overseeing this transaction.

About HVS/American Hospitality Management Company
HVS/American Hospitality Management Company is a full-service hotel-management company founded by President Kirby D. Payne, CHA, in 1988 and is a venture between hospitality consultancy HVS International, based in Mineola, NY, and hotel-management/consulting firm American Hospitality Management Company.  The company has staff in South Florida, Rhode Island and Minneapolis.  The company has operated hotels throughout the United States and served a multiplicity of clients, including lenders, airport authorities, law firms and individual investors. Through various partnerships, American Hospitality Management Company has developed and owned several hotels. Payne, a 30-plus-year hotel-industry veteran, served as the 2002 Chair of the American Hotel & Lodging Association (AH&LA), is a former director of the National Restaurant Association, and currently serves as a commissioner on the Certification Commission of the AH&LA’s Educational Foundation. For more information, visit their Web site at www.HVSHotelManagement.com.  Other premier hotels associated with the company include two Miami Beach hotels: Fisher Island Hotel & Resort and The Sagamore, and blue, the Inn on the Beach, Newbury (Plum Island), MA.

About HVS International
HVS International is a global consulting and services organization focused on the hotel, restaurant, timeshare, gaming, and leisure industries. Established in 1980, HVS performs more than 1,500 assignments per year for virtually every major industry participant. HVS International is client-driven, entrepreneurial and dedicated to providing the best advice and services in a timely, cost-efficient manner. For more information, visit the company Web site at www.HVSInternational.com.

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Contact:

HVS/American Hospitality Management Company
www.HVSHotelManagement.com

Also See: Eric Adame Appointed General Manager for Hotel ICON, Houston / November 2004
Benchmark Set to Open The Hotel ICON, $35-million Reinvention of Houston's Former Union National Bank Building; Includes a Jean-Georges Vongerichten Restaurant / December 2003
Troy Bennett has Named General Manager for Houston’s Hotel Icon; The 135 room Property Will be Benchmark's First Venture into the Small Luxury Hotel Category / June 2003

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