ORLANDO, FL � May 17, 2002 - CNL Hospitality Corp. (�CNL�) announced the opening of its first two hotel development projects in Florida, the 350-suite Residence Inn SeaWorld International Center in Orlando and the 174-room Courtyard by Marriott in Weston (Fort Lauderdale area). Both properties are owned by CNL and operated by Marriott International, Inc. 

�By implementing our strategy to start three or four new development projects per year, CNL is positioned to expand its acquisition pipeline and vertically integrate new hotel assets into our portfolio,� said Charlie Muller, chief operating officer of CNL Hospitality Corp.  �I applaud our planning, design and construction team, our portfolio management team and Marriott International for their outstanding efforts on both of these hotels, which are already experiencing high occupancy levels and high marks from guests.� 

CNL Hospitality Corp. has several additional development projects underway, including the JW Marriott Desert Ridge Resort & Spa in Phoenix, Arizona, a 950-room resort being co-developed with Marriott and scheduled to open in early 2003, and the Courtyard by Marriott in Edison, New Jersey, a 146-room hotel on schedule to open in the third quarter of 2002.  

"CNL Hospitality Corp. is an exceptional hotel owner and developer and we are pleased that the company has chosen to expand its portfolio of Marriott International lodging properties" said Arne Sorenson, executive vice president and chief financial officer of Marriott International. "We look forward to continuing the strong long-term relationship between our organizations, which now includes 45 Marriott hotels."
 

On April 2, 2002, CNL and Marriott celebrated the grand opening of the Residence Inn SeaWorld International Center, the largest Residence Inn in the world. Located in Orlando just south of SeaWorld, the property is attractively situated five minutes from the Orange County Convention Center and between Walt Disney World and Universal Studios, with frontage along Interstate 4. The hotel�s Key West theme complements the adjacent flagship Horizons by Marriott Vacation Club. Features of the Residence Inn include a zero entry pool, whirlpool, sand volleyball, sport court, gazebo and picnic areas, exercise room, game room and sundries/gift shop, as well as 1,125 square feet of meeting space. Guests will also have access to a number of shared amenities with the Horizon�s resort, to include a miniature golf course and numerous shopping venues.

Residence Inn SeaWorld International Center The Caribbean and Floridian-inspired architecturally designed property, exceptionally located within a half mile of SeaWorld®/Discovery CoveSM, is owned by CNL Hospitality Corp. of Orlando, Fla., and managed by Marriott International of Washington, D.C.

The Courtyard by Marriott is situated in the upscale master-planned community of Weston, approximately 15 miles west of downtown Fort Lauderdale and 20 miles north of downtown Miami.  The property is positioned along Interstate 75 within the area of Weston Commerce Park, a burgeoning business corridor that will contain 10-million-square-feet of mixed-use commercial space.  In addition, a Town Center project is under construction one mile from the hotel and will include a Publix grocery store and the future Weston City Hall, followed by six freestanding restaurants and seven two-story office buildings. The Courtyard opened in February and features a 76-seat restaurant, lounge/ library/ bar area, exercise facility, pool, whirlpool and gazebo.

CNL Hospitality Corp. is the hotel industry investment and development division of CNL Financial Group, Inc.  Through partnering with several of the industry�s top-tier lodging companies, the company has a portfolio of 51 hotels with 12,450 rooms in 21 states. 

Headquartered in Orlando, Florida, CNL Financial Group, Inc. is one of the nation�s largest, privately held real estate investment and finance companies.  CNL Financial Group and the entities it has formed or acquired have more than $5.1 billion in assets, representing more than 3,000 properties in 49 states.