Mr. Jungling�s comments were followed by a warm welcome from the Greater Columbia Chamber of Commerce.  Mr. Don Clary, Senior Account Executive for the Chamber spoke on their behalf.  �We are extremely excited to welcome the Candlewood Suites Hotel to the City of Columbia, South Carolina. The addition of a new extended stay hotel will be an excellent addition to the Ft. Jackson area of Columbia, South Carolina,� said Mr. Clary.

The Candlewood Suites, Columbia/Ft. Jackson, South Carolina is conveniently located near the intersection of I-77 and Garners Ferry Road exit 9.  The beautiful property is situated in the heart of the Columbia Metropolitan area and is within minutes of the Columbia Metropolitan Airport, Ft. Jackson, the Carolina Center/Columbia Convention Center, State Farmers Market, Downtown/USC Campus and local area business parks.

The hotel is the first joint venture of Sarasota-based American Hotel Development Partners and affiliates of New York-based real estate investment firm Glenmont Capital Management, LLC to pursue the development of extended stay hotels in select markets throughout the United States.

The principals of American Hotel Development Partners and Glenmont Capital Management, LLC chose the Candlewood Suites brand for its high consumer acceptance and fit for their targeted markets. The brand prides itself on putting guest amenities where they really count � in your room. Guests at the Candlewood Suites, Columbia/Ft. Jackson, South Carolina can cook meals in their fully equipped kitchen, relax in the overstuffed recliner while watching movies from our free movie library. Business travelers will work more efficiently utilizing the executive desk with two separate phone lines and free high speed internet.

The Candlewood Suites Columbia/Ft. Jackson, South Carolina will provide guests with a Fitness Center and free Guest Laundry. Candlewood Suites Columbia/Ft. Jackson, South Carolina is within walking distance of many local favorite restaurants. For those guests that prefer to dine in, the fully stocked Candlewood Cupboard provides breakfast, lunch, and dinner options, as well as sodas, snacks, and ice cream. 
   
ABOUT HARRIS HOTEL GROUP 

Harris Hotel Group is a wholly-owned subsidiary of American Hotel Development Partners. Clyde Harris, President of Harris Hotel Group, has an extensive hospitality background which includes serving as Director of Development for all Intercontinental Hotel Group (IHG) company-owned and managed hotels, responsible for overseeing the corporate-managed hotel portfolio and administering current and future management contracts.  Mr. Harris also currently serves as the President and COO of American Hotel Development Partners.  He has overseen the industry�s third largest managed portfolio, consisting of more than 300 hotels.  Mr. Harris helped IHG launch the Crowne Plaza brand in 1994 and the Staybridge Suites brand in 1998, and he worked on the acquisition of the Candlewood brand in 2004. While managing the Staybridge brand, Mr. Harris achieved an 8% RevPAR premium from company managed hotels vs. franchised hotels in 2005. The Harris Hotel Group management team has overseen the management of more than 120 IHG extended-stay hotels.  This experience includes managing through several industry cycles and has led to strong relationships with hotel franchise sales representatives, hotel management personnel and key corporate and military clients.  

AMERICAN HOTEL DEVELOPMENT PARTNERS, LLC

American Hotel Development Partners, LLC is an integrated hotel development company which has significant hotel expertise and deep industry relationships by virtue of its principals� 75 collective years of experience in building, managing and operating hotels.  Among the company�s principals is Clyde Harris, a former executive of Intercontinental Hotels Group, who was responsible for the Candlewood Suites brand and other significant operational and brand initiatives. 

American Hotel Development Partners is focused on the extended-stay hotel sector because of its ability to leverage the expertise of its principals, develop in several of the many existing underserved markets, invest a relatively modest amount of capital, and achieve high cash flow margins. To date, American Hotel Development Partners is actively developing highly attractive, well-located extended-stay hotel assets in South Carolina, North Carolina, Georgia, Pennsylvania and Florida. 

ABOUT GLENMONT CAPITAL MANAGEMENT, LLC

Glenmont Capital Management, LLC is a privately held real estate investment management firm headquartered in New York. It deploys equity capital from its existing investment funds composed of institutional and high net worth investors and is focused on high yielding, small to midsize investment opportunities across the country, that typically require $5 million to $15 million of equity capital. The funds target joint venture equity investments in all real estate asset classes where Glenmont can leverage the expertise of its experienced and proven sponsor partners who operate the properties on a day-to-day basis. Glenmont�s existing portfolio consists of several million square feet of various hotel, retail, industrial, office, multifamily, land and other properties around the United States and in Europe.

Sharon Lemon
www.harrishg.com
970.769.0510