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Richfield Hospitality to Oversee Renovation and Conversion of 475-room
Best Western Lakeside Hotel in Kissimmee, Florida to the
Independent Maingate Lakeside Resort


ORLANDO, Fla., August 15, 2011—Officials of Richfield Hospitality, a leading hotel management company, today announced that it will oversee a multi-million dollar renovation of the 475--room Best Western Lakeside Hotel as it converts to the Maingate Lakeside Resort, an independent hotel.  The refurbishment will include upgrades to hotel rooms and public spaces.

“To best suit the needs of our guests and associates, we will become an independent hotel as we continually review how to maintain a leadership position with business and leisure travelers to the greater Orlando marketplace,” said Greg Mount, president Richfield Hospitality..  “Following the completion of the renovation, we will be well positioned to become the market leader in our segment, with a contemporary look and feel that exceeds guest expectations. This hotel makes vacations affordable for many families and as an independent; we’ll be able to more aggressively market to the families and many travel groups who visit area attractions each year.”

Along with a lakeside setting at 7769 W. Irlo Bronson Highway in Kissimmee, Florida, the resort is located just 1.8 miles from the main gate entrance to Walt Disney World Resort and just minutes south of Orlando.  Guest rooms include cable satellite television with ESPN and the Disney Channel, high speed Internet access and refrigerator. Hotel amenities include three swimming pools and two children's swimming pools, exercise facilities, arcade and an on-site miniature golf course. Guests can choose from a variety of restaurants on site, plus the hotel offers a ‘kids eat free’ program.  Additionally, the resort features more than 3,200 square feet of quality function space accommodating up to 100 people in its event rooms.

The Maingate Lakeside Resort is close to a variety of attractions and activities including the annual Daytona 500, Firecracker 400, Bay hill Golf Classic, Disney Golf Classic and Disney's Magic Music Days.

About Richfield Hospitality
Richfield Hospitality, Inc. is a leading hotel management company with a premier track record of maximizing profitability and improving asset values for hotel owners.  Richfield and its affiliates offer proven solutions and expertise to approximately 500 hotels and resorts.  From hotel operations and property management to electronic distribution and interactive marketing, Richfield achieves superior operating results through its strong commitment to owners, guests and associates.  Based in Denver, Richfield is part of City Developments Limited, one of the world’s largest real estate, hotel investment and technology conglomerates with a market capitalization exceeding US$6 billion.  Additional information about Richfield Hospitality may be found at the company’s website, www.richfield.com
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Contact:

Chris Daly/Lauralee Dobbins media
(703) 435-6293
chris@dalygray.com


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Also See: Richfield Hospitality Partners with Predisio Companies to Operate the 75-room Hyatt Place UC Davis in Davis, California / August 2011

Predisio Companies Choses Richfield Hospitality to Manage 431-room Sheraton Fort Worth Hotel & Spa in Texas; Property Recently Completed $48 Million Renovation / August 2011

Platinum Equity and Richfield Hospitality Reflag Former 564-room Sheraton Bloomington in Minnesota to the DoubleTree by Hilton Bloomington; $12.5 Million Renovation to be Launched / July 2011

Richfield Hospitality Appoints Thomas Clearwater as Senior Vice President of Sales / February 2011

Richfield Hospitality Adds Six Hotels to Portfolio in 2010, Opens 2011 with Three More / February 2011

Recently Acquired by Platinum Equity, the 564-room Sheraton Bloomington Minneapolis-Area Hotel to Undergo $12.5 Million Renovation and Rebrand as DoubleTree in Q3 2011, Richfield Hospitality to Manage / Janaury 2011

Richfield Hospitality and Shelbourne Falcon Investors Acquire the 279-room Renaissance Syracuse Hotel; Plans $5 Million Renovation Conversion to Crowne Plaza Brand / June 2010

Rebranding Completed for the 250 room Doubletree Hotel Syracuse, Formerly a Wyndham / December 2006

Richfield Hospitality, Along with its Parent Company, City Development Limited, Seeks to Deploy Significant Capital for Structured Finance Deals to JVs and Direct Hotel Acquisitions / February 2010
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