This is the first opportunity for Richfield to work with the SNA (a Native American business organization involved in land leasing, timber sales, gravel and armor rock sales and real estate in Alaska), and the second management contract for Richfield in Anchorage. Previously, Richfield managed the Regal hotel in Anchorage, which was recently converted to the Millennium Anchorage and is now managed by Millennium & Copthorne Hotels, a SWAN investor. "The SNA's appointment of Richfield is another example of an investor new to

The Dimond Center Hotel will be a three - story 75,000 square foot building. It will include 109 large rooms with luxury bathrooms. This hotel will incorporate a conference room, small meeting room, breakfast bar, gift shop, lounge / bar, freezer storage, and fitness room. The Hotel is located in the southwest corner of the Dimond Center Mall parking lot.

When the SNA set out in search of a management company to help educate them on the hospitality market and prepare them for the business venture, they turned to the Millennium Anchorage hotel for a referral, said Michael Beal, SNA CEO.

"The Millennium hotel in Anchorage is one of the most successful hotels in Alaska," Beal said. "Before being purchased by M&C Hotels, the property was being managed by Richfield. The hotel's general manager and its management staff gave Richfield rave reviews for its management philosophy and the personalized, punctual performance of its staff. Once we met the people behind the company, the synergies were instantaneous. We've already become a dynamic team."

Because the Seldovia Native Assn. is making a $14 million investment into the hospitality market, Beal said Richfield needed to have more than a solid track record in hotel management. It was Richfield's past experience in managing the Regal hotel in Anchorage and working with other Native American hotel operators in the Northwest United States that awarded them the contract.

"The Dimond Center hotel is not a name brand hotel," Beal said, "and marketing our property as a destination to travelers in the lower 48 states and to the Alaskan market will be a challenge. Richfield's knowledge of the territory and its culture, and their success with operating independent hotels, will quickly help our hotel to become the highest-quality, limited-service hotel in Anchorage."

The Dimond Center Hotel will be located at 800 East Diamond Blvd., in the southwest corner of the Dimond Center Mall parking lot-which also is owned by the SNA. The three-story, 75,000 square foot building will include large guestrooms with luxury bathrooms, a conference room, small meeting room, breakfast bar, gift shop, lounge/bar, freezer storage and fitness room.

"The amenities and guestrooms at the Dimond Center Hotel are grander and more unique than most limited-service hotels in that we offer luxury guestroom accommodations with the latest in in-room business services and high-speed Internet access -- all with a limited-service flair," Beal said. "Our guestrooms boast 11-foot high ceilings and extra-large soaking tubs in the middle of the room. We also provide 36-inch televisions -- which is a rare amenity in Alaska hotels."

Beals said because the property is adjacent to the Dimond Center Mall, guests can enjoy a $5 million fitness center, bowling, movie theatres, shopping and 23 restaurants all within one block. A water park is scheduled to open at the Mall in January, making it an attractive destination for families.

"Those locals who live in the 'bush' often suffer from cabin fever during the off-season because it is dark 19 to 20 hours each day," Beals said. "The Dimond Center hotel provides a refuge to Alaskan residents who want to get out of the house and enjoy activities that they normally enjoy only in June, July and August-our summer season when it is light 24 hours a day."
    
Robert Ferree, Richfield VP of Operations, said the management group is working with the SNA to coordinate its pre-opening project, including the purchase of all furnishings, fixtures and equipment, installation of technology systems, preparation and execution of marketing materials and the hiring and training of employees.

"One reason Richfield was so attractive to the SNA is because it operates under the wing of SWAN, which provides us a host of value-added services," Beal said. "We recently signed a contract with SCEPTRE to provide the Dimond Center hotel with reservation-distribution services, and will soon strike a deal with SHIELD to secure insurance premiums for the property and with SOURCE for our procurement.

"We have put our entrance into hospitality into Richfield's capable hands, knowing that they will successfully take us from the concept to profitability," Beal said.

SWAN Inc. is a global provider of one-stop shop integrated e-business solutions to hotels, backed by strong customer service levels. The company's core competencies span a comprehensive palette of on-line and off-line hospitality services, including: hotel management, reservation distribution, on-line insurance, risk management, and on- and off-line procurement. Headquartered in Denver, the company has approximately 2,000 employees and will operate initially in the United States, offering extensive services to the U.S. operations, followed by global operations, of Millennium Hotels & Resorts. Millennium & Copthorne Hotels plc, a U.K.-based company, is an investor in SWAN. Hong Kong-based City e-Solutions Limited (CES) is majority owner.