DALLAS, June 20, 2007 - Dallas-based Prism Hotels & Resorts has reflagged the former Radisson Hotel Historic Richmond into the Doubletree Hotel Richmond Downtown, introducing the first Hilton brand hotel to downtown Richmond. E2M Partners, a private equity firm which specializes in real estate investments on behalf of individual and institutional investors, provided the equity capital for this transaction.
    
As part of the reflagging, Prism Hotels & Resorts recently completed an $8.9 million renovation of the 230-room, 16-floor hotel, including updated guest rooms, a new exterior shell with a circular valet drive, a new lobby restaurant and bar complete with high-definition flat screen TVs, a coffee bar, new gift shop, a rooftop pool and a fitness center featuring Precor fitness equipment.
    
"Downtown Richmond is in the midst of a huge urban revitalization, and we wanted this hotel to be reflective of this change," said Steve Van, president and CEO of Prism Hotels & Resorts. "Our vision was to make the Doubletree Hotel Richmond Downtown a modern and luxurious destination for both business and leisure travelers, yet still retain its historical feel and Southern hospitality."
    
The hotel is located at 301 West Franklin Street in downtown Richmond, in the heart of historic Richmond's business and financial district and within walking distance of the Commonwealth of Virginia Capitol building, federal offices, the Center for the Performing Arts and the recently expanded Richmond Convention Center.
    
Each guest room combines classic comfort with modern elegance, featuring ergonomic chairs, MP3 clock radios, complimentary wireless
high-speed internet access and the signature Sweet Dreams(R) by Doubletree bedding experience. Granite countertops, cherry vanities and chrome fixtures adorn each bathroom. The hotel also has more than 7,770 square feet of technologically-advanced conference and meeting space.
    
The Doubletree Hotel Richmond Downtown is one of seven Hilton branded hotels managed by Prism Hotel and Resorts, including the Embassy Suites Boston Logan, Hilton San Francisco Financial District, Hilton Baton Rouge Capital Center, Doubletree Memphis Downtown, Doubletree Wilmington -- Legal District and the Doubletree Columbus/Worthington, Ohio.
    
About Prism Hotels & Resorts
    
Dallas-based Prism Hotels & Resorts is one of the fastest growing full- service hotel investment, management and development companies in the United States. The company currently manages more than 5,000 rooms for multiple owners in the 11 states and the Caribbean. For more information, please visit http://www.prismhotels.com.
    
About E2M Partners
    
E2M Partners is a private equity firm which specializes in real estate investments on behalf of individual and institutional investors. Since
1992, the firm has invested in major U.S. markets and has a wide range of real estate experience in the development of hotel, residential, retail, mixed-use, industrial, office and multi-family assets. More information is available at http://www.e2mpartners.com.