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New Orleans Developers Angelo Farrell and Lee Laporte Restoring the Cosmopolitan Hotel
in the French Quarter and Adding New 26 Story Tower with 131 Condominium Units

The Royal Cosmopolitan Is First New Hotel Project Post-Katrina
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NEW ORLEANS, Nov. 8, 2007 - New Orleans developers Angelo Farrell and Lee Laporte today revealed plans to restore the Cosmopolitan Hotel, located on Royal Street in the French Quarter, to its original historic beauty and luxury. The new condominium hotel, the first of its kind in Louisiana, will be known as The Royal Cosmopolitan effective immediately. Plans for the new luxury hotel emphasized a commitment to the city's glorious history and a multi-million dollar investment in its future. This project is a signficant historic restoration effort in New Orleans post Katrina.

At today's official announcement and unveiling of architectural designs, the developers also named Salamander Hospitality, the acclaimed management firm founded by Sheila C. Johnson, as the Royal Cosmopolitan's exclusive operations team. Salamander Management Services, steered by its President, Prem Devadas, provides expertise in the areas of development, operations, and marketing for owners of independent luxury hotels and resorts throughout the United States.

"As New Orleans developers, this project is of special importance to us," said owner/developer Angelo Farrell. "In rebuilding the Royal Cosmopolitan, we hope to create a first of its kind luxury property in the French Quarter. This will be a destination for those who want to enjoy and entertain in one of the world's greatest cities. We are committed to a first-class experience for all Royal Cosmopolitan owners and guests, and by bringing Sheila Johnson's Salamander Hospitality team to New Orleans, we ensure that the services and amenities of the hotel will set a new standard for luxury."

The Royal Cosmopolitan Hotel will be a multi-million dollar endeavor for the team. The scope of this new condominium project will include the restoration of the original interior and facade of the Cosmopolitan, and the addition of a 26 floor tower set back from Royal Street in order to preserve the architectural integrity of the French Quarter streetscape. The renovation and new additions will include 107 condominium suites and the 24 guest rooms of the 19th century hotel. Special features of the hotel include a rooftop Infinity swimming pool, a hip lounge and restaurant on the 26th floor with panoramic views of the City as well as a signature restaurant and bar on the lobby level.

"We are proud to play a part in the revitalization of the great city of New Orleans and we are honored to be selected as stewards for what is sure to become a landmark in the French Quarter," said Sheila C. Johnson, CEO of Salamander Hospitality.

Johnson, among her other business endeavors, is the only woman to have a stake in three professional sports teams. She is President and Managing Partner of the WNBA's Washington Mystics and is a partner in the NBA's Washington Wizards and NHL's Washington Capitals.

The Royal Cosmopolitan project will generate over 600 new constructions jobs for workers in New Orleans and the regional area. Construction is expected to begin in 2008 and is scheduled to open for business in the fall of 2009. Condominium prices will range from $349,000 for a one studio suite to $875,000 for a penthouse suite. The Woodrow Wilson Company of Baton Rouge, LA has been selected as the construction company to handle all property restoration.

New Orleans Interior Designer Lisa Condin will create an exciting version of period decor in keeping with the historic architecture through the public spaces. The Royal Cosmopolitan Hotel is expected to generate approximately $1 million in tax dollars annually for the city.

About Salamander Hospitality, LLC

Salamander Hospitality, founded by entrepreneur Sheila C. Johnson in 2005, owns, manages and develops hotels, resorts and inns that reflect the authenticity and character of their surrounding environment to become community landmarks. Based in Middleburg, Virginia, just outside of Washington, DC, this privately owned and operated company is built upon a uniquely personalized approach to the hospitality business. Salamander Management Services, the newest division of hospitality, oversees the development and management of independently owned luxury properties. The company has also launched a division of gourmet prepared food markets called Market Salamander with locations in Middleburg, Virginia and Palm Beach, Florida. For additional information call (540) 687-3710 or visit the web site at http://www.salamanderhospitality.com/.

About The Royal Cosmopolitan Hotel

The Royal Cosmopolitan Hotel, located in the historic French Quarter and steps away from New Orleans' thriving riverfront, trendy Arts/Warehouse District, is Louisiana's first condominium hotel, owned by New Orleans developers Angelo Farrell and Lee Laporte. Originally the site of one of the city's grandest and oldest hotels, The Royal Cosmopolitan will restore the original building and add a new tower offering 131 condominium units on 26 floors with distinctive features, amenities and services including rooftop pool, restaurant and lounge. For more information call 504.655.3100 or visit our website at http://www.royalcosmopolitan.com/
Salamander Hospitality, LLC

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Contact:

Jyl Benson
1-504-899-1413
jylb@cox.net
    Salamander Hospitality, LLC
http://www.salamanderhospitality.com/
    http://www.royalcosmopolitan.com/
 

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Also See: Sheila C. Johnson's Salamander Hospitality Signs Purchase Agreement to Buy Innisbrook Golf Resort for Approximately $35 million / July 2007
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