In that tax-deferred transaction, Boykin transferred its Marriott Cleveland East to Hilton, which converted the hotel to the Hilton brand. In exchange, Boykin obtained from Hilton two hotels in first-rate commercial markets: a Doubletree hotel in San Antonio, Texas, and a Doubletree Guest Suites, in Southfield, Michigan. Boykin also gained the right to terminate without penalty Hilton�s long-term management contract relative to the three Doubletree hotels Boykin owns in the State of Washington, provided that Boykin flags these properties as Red Lion hotels or another mutually acceptable Hilton brand.  �We said at the time that this was a great example of a win-win situation,� said Mr. Boykin, �and we are honored that others in our industry have formally recognized it as such. Both Boykin Lodging and Hilton recognized

Robert W. Boykin has served as our Chairman of the Board and Chief Executive Officer since our formation. He served as President of Boykin Lodging Company from our  formation until January 2001. He served as the President and Chief Executive Officer of Boykin Management Company from 1985 until November 1996. He served as Boykin Management Company's Executive Vice President from 1981 until 1985. He is a graduate of the University of Hartford, Degree in Business Economics and Finance.

Boykin Lodging Company is a real estate investment trust that focuses on the ownership of full-service, upscale commercial and resort hotels. The company currently owns 32 hotels containing a total of 9,030 rooms located in nineteen states, and operating under such internationally known brands as Doubletree, Marriott, Hilton and Radisson, among others. 

This release contains forward-looking statements.