Driftwood Hospitality Management Appointed by Receiver to Manage Guest Suites of Boca Raton and Radisson Hotel & Suites � Dallas Love Field Airport / August 2009

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Driftwood Hospitality Management Appointed by Receiver to Manage
Guest Suites of Boca Raton and Radisson Hotel & Suites �
Dallas Love Field Airport
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July 2009 - Driftwood Hospitality Management (DHM) has been retained by the receiver of the court to provide management services for the Guest Suites of Boca Raton on July 7th, 2009. We immediately assumed control of the asset and brought a high level of professional supervision to the overall management effort, including sales/marketing assistance and accounting controls focused on cash controls, accounts payable and accounts receivable.

Also Driftwood Hospitality Management (DHM) has been retained by CW Capital to provide Receivership/Management Services for the Radisson Hotel & Suites � Dallas Love Field Airport. We immediately assumed control of the asset and brought a high level of professional supervision to the overall management effort, including sales/marketing assistance and accounting controls focused on cash controls, accounts payable and accounts receivable.

This is the second assignment of this nature procured by DHM in 2009. We have been chosen to provide similar services on two additional assets by a large financial institution. The timing of these takeovers has not been finalized pursuant to legal activities currently taking place.

DHM has subsequently been chosen to perform similar services for CW Capital on two additional assets. The timing of these takeovers has not been finalized pursuant to legal activities currently taking place.

Driftwood Hospitality is a full service management company located in N. Palm Beach, Florida. We currently operate 25 hotels throughout the United States and Costa Rica.

List of Managed Assets
Driftwood Hospitality Hotel Portfolio

Property Name, Location, No. Rooms, Year Added, Status =
M/O � Managed & Owned; M - Managed; O - Owned (minority stake); A � Asset Management

1. Sheraton Jacksonville Hotel Jacksonville, FL 159   Jul-08   M/O
2. Sheraton Salt Lake City Centre Salt Lake City, Utah 362   Dec-07   M/O
3. Doubletree Downtown Wilmington Wilmington, Delaware 217   Nov-07   M
4. Holiday Inn Express Kendall Airport Miami, FL 107   Oct-07   M/O
5. Sheraton Bellevue Seattle East Bellevue, Washington 179   May-07   M/O
6. The Avenue Hotel Chicago Chicago, Illinois 350   Jan-07   M/O
7. The Strathallan Hotel Rochester, New York 156   Jan-07   M/O
8. Hotel Indigo Scottsdale Scottsdale, Arizona 126   Jan-07   M
9. Hilton Tucson East Tucson, Arizona 233   Dec-06   M
10. Courtyard by Marriott Wood Dale Wood Dale, Illinois 149   Sep-06   A/O
11. Crowne Plaza Denver Downtown Denver, Colorado 382   Jun-06   M/O
12. Sheraton Raleigh Hotel Raleigh, North Carolina 355   Jun-06   A/O
13. Hotel Indigo Houston Galleria Houston, Texas 132   Jun-06   M/O
14. Fiesta Inn Resort Tempe, Arizona 270   Dec-05   M/O
15. Crowne Plaza Minneapolis Brooklyn Center, Minneapolis 176   Oct-04   M/O
16. River Terrace Inn Napa Valley, California 106    Nov-03   M
17. Radisson Worldgate Resort Kissimmee (Orlando), Florida 426   Aug-03   M
18. Crowne Plaza Memphis Memphis, Tennessee 230   Dec-02   M/O
19. Holiday Inn Houston at Reliant Park Houston, Texas 235   Oct-02   M/O
20. Crowne Plaza at Sawgrass Mills Sunrise, Florida 250   Nov-01   A/O
21. Crowne Plaza Cleveland Cleveland, Ohio 470   Dec-00   M/O
22. Flamingo Beach Resort Guanacaste, Costa Rica 91   Feb-00   M/O
23. Paradise Island Harbour Resort Nassau, Bahamas 246   Sept-99   M/O
24. Nassau Palm Resort Nassau, Bahamas 181   Sept-99   M/O
25. Radisson Hotel & Suites � Love Field Dallas, TX 342   Feb-09   M
26. Guest Suites of Boca Raton Boca Raton, FL 180   July-09   M

DHM is prepared to assist financial institutions with Receivership/Management Services. Please contact Steve Johnson at (480) 699-1502 or at [email protected] for further information. We will be pleased to present you with an asset overview for the asset and a Proposal of Receivership/Management Services.

Contact:

Driftwood Hospitality Management
11780 U.S. Highway One
(North Tower) Suite 400
North Palm Beach, FL 33408
Phone: 561-207-2700
http://www.driftwoodhospitality.com

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Also See:	Stamford Real Estate Investments Ltd and Harrell Hospitality Group Acquire the Radisson Dallas Love Field Hotel / April 2007
	Driftwood Hospitality Management Investing $140 Million in its Properties, Currently Renovating 26 Hotels / October 2007