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 Silver Companies Developing Three Hyatt Place Hotels in Three Markets
– Fredericksburg, Va., Jacksonville, Fla. and Germantown, Tenn. 
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METRO WASHINGTON D.C / BOCA RATON, FL – March 7, 2007 – Silver Companies announced today that it has secured the rights to develop three Hyatt Place TM hotels for three different markets – Fredericksburg, Va., Jacksonville, Fla. and Germantown, Tenn. 

Silver Companies will new-build each of their three Hyatt PlaceTM hotels, and will be one of the first to do so in each of the three states. Each Hyatt Place will be master-planned by Silver Companies and jointly developed with the MMI Hotel Group.

“We are extremely excited to be at the forefront of the Hyatt Place rollout,” said Silver Companies CEO Larry D. Silver. “The name Hyatt signifies quality. It is a brand that we have long admired, and the design and features of this new concept are ones we think will be extremely attractive to the many markets in which we do business.”

Silver Companies -- a master real estate development and investment firm with more than six decades of commercial experience – began building hotels as part of its Celebrate Virginia project, a 2400- acre retail destination and hub that constitutes North America’s largest retail resort™. A Hilton Garden Inn opened in Celebrate Virginia last year with a Homewood Suites and Hampton Inn & Suites on the way. When Silver Companies sought a fourth hotel to round out its tourism and conference campus, word that Global Hyatt Corporation was going to introduce a new concept caught Larry Silver’s attention.

“The minute I heard about Hyatt Place, I put our team to work searching for locations,” Silver said. “We have had a wonderful experience so far. The people at Hyatt are of the same caliber as their exceptional hotels.”

All three locations share enviable features. The Fredericksburg, Va. Hyatt Place in Celebrate Virginia will be within walking distance of the 116,000 sq. ft. state-of-the-art Fredericksburg Expo and Conference Center and part of a destination retail resort that will include a main street entertainment district, the first WorldStreet marketplace concept, expo-adventure experiences and a gondola ride across the Rappahannock River. 

The award-winning Cannon Ridge golf course is already on location. In addition, the Fredericksburg Hyatt Place site is already anchored by the East Coast’s largest power center, Central Park, with an extensive tenant list that counts among its 140 retail destinations 25 national retailers (such as Borders Books & Music, Sports Authority, Best Buy, Kohl’s and Toys “R” Us) and over 50 national restaurant chains (such as Outback Steakhouse, T.G.I. Friday’s, Smokey Bones and Bonefish Grill). 

The Hyatt Place hotel site in Germantown, Tenn. is located along Winchester and Forest Hill Irene roads in the city’s Technology Corridor, down the street from the world headquarters of Federal Express to name one. 

The hotel site in Jacksonville, Fla. is located along Duval and Ranch roads close to Jacksonville International Airport. 

In all three cases there are additional parcels to be developed. Interested parties should contact Denny Weiss in Silver Companies’ Florida office at 561-981-5252. 

About Silver Companies
Silver Companies is a Boca Raton, Fla. and Metro Washington, D.C.–based master developer of large commercial and residential land tracts and a diversified real estate investment firm. Since 1941, Silver Companies has built an impressive private enterprise with commercial development approaching 11 million sq. ft. and residential site development totaling more than 50,000 units. In addition, the company’s private equity division has provided more than $1 billion in capital to builders and developers during the last six years. Silver Companies is led by CEO Larry D. Silver and is backed by teams of division presidents, engineers, contractors, project managers, lending, leasing and acquisitions professionals and nationally-recognized strategic partners. For more information, visit www.silvercompanies.com.

About MMI Hotel Group
MMI Hotel Group is a 50-year old company recognized by its peers as a leader and innovator in the hospitality industry.  MMI was founded in 1956 with the operation of its first property -- a Holiday Inn in Meridian, Mississippi (among this national chain's first Inns). Much has changed at MMI and in the industry since. Yet MMI's founding principal of excellence in every facet of operations and its firm belief that "the guest is our true boss," will never change. MMI is comprised of two distinct, yet fully interdependent and complementing divisions: MMI Hotel Group and MMI Dining Systems. Together, the two divisions own, manage or serve over 100 locations in the southeast U.S., bringing the MMI commitment to excellence to tens of thousands of guests each day.

About Global Hyatt Corporation
There are 214 Hyatt branded hotels and resorts (over 90,000 rooms) in 43 countries around the world, operating under the Hyatt?, Hyatt Regency?, Grand Hyatt? and Park Hyatt? brands. Currently, there are an additional 43 Hyatt hotels and resorts under development, including 15 new hotels in China. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc. operator of the 12 Hyatt Vacation Club timeshare and fractional residential properties, Hyatt Equities, L.L.C. (hotel ownership), Select Hotels Group L.L.C. (which owns, manages and franchises 163 AmeriSuites hotels, Hyatt Place and Summerfield Suites hotels) and U.S. Franchise Systems, Inc. (which franchises 95 Hawthorn Suites, and 272 Microtel Inns and Suites). 

From the U.S. and Canada, reservations for any Hyatt hotel worldwide may be obtained by calling 1-800-233-1234 or logging onto www.hyatt.com.

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Contact:

Bernadette Bruce

Bernadette Bruce
Project Coordinator
Silver Companies
1001 East Telecom Drive
Boca Raton, FL 33431
561-981-5252
www.silvercompanies.com
 

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Also See: Wolff Urban Development Building a Hyatt Place Hotel on the Fresno State University Campus in Fresno, California / November 2006
Silver Companies Building a 139 room Hyatt Place, Will be Fourth Hotel within the Celebrate Virginia Development / August 2006
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