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Gulph Creek Hotels Breaks Ground on 127-room Courtyard
by Marriott in East Whiteland Township, Pennsylvania

Wayne, PA, November 15, 2006 – Gulph Creek Hotels, a leading Philadelphia hotel development and management company, today announced that they have broken ground on a 127-room Courtyard by Marriott hotel located on State Route 29 at Quarry Ridge in East Whiteland Township, PA. The hotel will open in early Fall 2007. 

The Hotel will be an integral part of the expansion of the Great Valley Corporate Center, a 5,000,000 square-foot office park, owned by Liberty Property Trust. The Great Valley Corporate Center houses over 50 biotech and pharmaceutical companies, a branch of Pennsylvania State University and a total workforce of approximately 20,000 people. 

When completed, the new Courtyard by Marriott will provide visitors to the Great Valley/Malvern area with a full complement of services and amenities including 600 square feet of meeting facilities, a business library featuring individual workstations with high-speed data ports, an indoor swimming pool with whirlpool spa, a fitness center and laundry service. All guest rooms will include a work desk, two telephone lines with data ports, iron with ironing board, hair dryer, coffee maker and cable television with a free premium movie channel. There is also a free-standing restaurant planned for the site adjacent to the hotel. 

“Our success is based on building and managing the best hotel brands; and we are pleased to be constructing and managing another, Courtyard by Marriott,” said L. Clarke Blynn, CEO of Gulph Creek Hotels. “This is an ideal time for us to enter the Great Valley/Malvern market, which has an expanding demand for lodging options and, up until now, has had no Marriott hotels. We expect that our unique management style will provide an exceptional accommodation experience to corporate and leisure travelers.” 

About Courtyard by Marriott 
Courtyard by Marriott is the leading select-service hotel brand in the United States. Providing guests with a combination of casual comfort and time saving services, Courtyard hotels feature large functional guest rooms and are conveniently situated where people travel. All Courtyards now offer free high-speed Internet services to guests. Locations range from airports and office parks to downtown areas and recreational destinations. Several locations feature revitalized historical buildings. Courtyard has more than 600 hotels worldwide, including properties in the U.K., Germany and China. Courtyard participates in the company’s award-winning Marriott Rewards® frequent guest program. Members earn their choice of points toward free vacations or frequent flyer mileage for dollars spent at more than 2,300 Marriott hotels worldwide. 

About Gulph Creek Hotels 
Gulph Creek Hotels is recognized as the leading hotel management company in the Philadelphia area. Gulph Creek’s portfolio of owned and managed hotels continues to outperform the market and exceed financial return expectations. Gulph Creek Hotels was founded in 1996 and currently manages six Hilton and Marriott branded hotels in Pennsylvania.  Gulph Creek Hotels’ principal investor in this project is Grosvenor Investment Management US, Inc. located in King of Prussia. Grosvenor acts as a fiduciary for area pension funds and their equity real estate investor; ING Investment Management provided the construction and permanent financing for this transaction. 

Contact:

Gulph Creek Hotels
Doug McBrearty 
333 Lancaster Avenue
Wayne, PA
610-687-9280
dmcb@gulphcreekhotels.com
http://www.gulphcreekhotels.com 

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Also See: HREC Advises on Sale of The Gulph Creek Hotels Portfolio, Greater Philadelphia, in $92,000,000 Transaction / May 2005
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