Stanford will manage the property, its first in Hawaii, using a Radisson flag under the name �Radisson Hotel, Waikiki.�

Lawrence Lui, President and CEO of Stanford Hotels, said, �We are very pleased to have our first Hawaii property and we are all looking forward to contributing to the Hawaii tourism industry. This investment is a strong statement of Stanford�s belief in Hawaii�s economy.�

The Hotel is located at the corner of Kuhio and Liliuokalani Avenues in Waikiki, one block from the famous Waikiki Beach with a spectacular view of the ocean and beach activities. In addition to 625 rooms, it has 13,000 sq. ft. of meeting and banquet space, including a ballroom of 8,000 sq. ft., two restaurants, swimming pool and a large landscaped sundeck, fitness center, retail stores, tour and travel offices. The Hotel went through a complete room renovation program in 1999 and the guestrooms are now among the best in Waikiki.

Toby Allen, Regional Vice President and a senior General Manager of Stanford Hotels, has been appointed General Manager and has been instrumental in the smooth transition to a Radisson Hotel. Allen has worked in various Stanford hotels in the last six years and was the General Manager at the Waiohai Resort on Kauai and Vice President of Operations for Amfac Hotels in Hawaii from 1985 to 1990.

San Francisco-based Stanford Hotels owns and manages 18 full-service hotels in the U.S.A. with more than 4,600 rooms in California, Arizona, Florida, Virginia and New Mexico�and now Hawaii�all under major national franchises including Hilton, Sheraton, Marriott, Doubletree, Holiday Inn and Radisson.