|ROCHESTER, N.Y.- May 10, 1999--Hudson Hotels Corporation,
Rochester New York ("NASDAQ:HUDS") (the "Company") today announced that
it has executed two new management contracts. These contracts call for
the Company to be the exclusive manager of a Holiday Inn Express in Buffalo,
NY and a Quality Inn in Albany, NY. The Company has already begun operating
the Holiday Inn Express and will begin operating the Quality Inn by the
end of May 1999.
These two new management contracts are the result of an increased focus that the Company has recently undertaken to obtain third party management contracts in addition to the operation of hotels in which the Company owns or has an equity interest. Hudson now manages a total of 44 hotels with a total of 4,884 rooms. Commenting on these events, E. Anthony Wilson, Chairman and Chief Executive Officer of the Company was quoted as saying "Hudson has more than a fifteen year history of successfully operating properties for third party owners and we believe that the Company's recent focus in this area should realize additional management opportunities in the upcoming months."
Michael T. George, President and Chief Operating Officer of the Company added "Hudson believes that given the management infrastructure that it has put in place during the past year, that Hudson is uniquely qualified to enhance the operating performance of an increasing number of independently owned hotels. Hudson's management and information systems infrastructure should bring meaningful financial results to the owners of these properties. We look forward to obtaining additional management agreements in the upcoming months."
Garry Olsen, owner of the Quality Inn in Albany, NY stated "for the individual hotel owner Hudson management is a perfect solution. Hudson brings a level of professionalism and expertise that a small operator is unable to match. Additionally, I have been impressed with the innovative marketing and operating approach that Hudson has planned to improve the performance of my property." Mr. Olsen concluded, "it is a pleasure to work with Hudson."
Hudson Hotels Corporation is a Rochester, New York-based leading limited-service hotel development and management company. Hudson manages primarily well-known national hotel brands pursuant to franchise agreements from Marriott International, Inc. (NYSE:MAR), Promus Hotels Corporation (NYSE:PRH), Choice Hotels International, Inc. (NYSE:CHH), Red Roof Inns, Inc. (NYSE:RRI), and U.S. Franchise Systems, Inc. (NASDAQ:USFS). The Company owns 25 hotels and has agreements to manage a total of 44 hotels with 4,884 rooms.
Except for the historical information presented in this press release, the press release includes forward looking statements that involve risks and uncertainties including, but not limited to, quarterly fluctuations and results, the management of growth, competition and other risks detailed in the company's Securities and Exchange Commission filing. Actual results may differ materially from such information as set forth herein.
|Also See:||Hudson Hotels Corporation Announces Strategic Alliance With Hudson Hotels Trust / May 1998|