|SAN FRANCISCO - May 25, 1999--An investor group affiliated
with the San Francisco-based Kimpton Group plans to purchase the Pacific
Palisades Hotel, located at 1277 Robson Street. The Kimpton Group will
commence management of the Hotel on July 21, 1999 on behalf of the new
233-room property will remain open through the acquisition. A multi-million
dollar renovation of the building and the Hotel's interior design will
commence in December 1999 and should be completed in March 2000. The Hotel
will remain open during renovation and upon completion a new name may be
Since 1981, Kimpton Group has acquired, significantly renovated and
currently operates 24 hotels along the West Coast and Midwest of the United
States, in San Francisco; Seattle; Tacoma, Wash.; Portland, Ore.; Chicago
Kimpton Group is known for its European-style hotels that feature highly
personalized service, including the charming Prescott Hotel in San Francisco,
the fashionable Seattle Alexis Hotel, the hip Hotel Allegro Chicago and
the newly opened Hotel Monaco in Denver. In addition, Kimpton Group will
open the Hotel Monaco in Salt Lake City, Hotel Palomar in San Francisco
and the Burnham Hotel in Chicago this summer.
The Kimpton Group is eagerly awaiting the opportunity to bring its operation
to the very exciting, cosmopolitan and elegant city of Vancouver, British
Columbia. This will mark the first hotel in Canada for the Kimpton Group.
Operation of the hotel remains entrusted to a crew of Vancouver employees
experienced in the hotel industry.