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Michael Gallegos' Company, American Property
Management Corp., Has Acquired 45 hotels and
Sold Six 14 years; Recieves Ernst & Young
Entrepreneur of the Year Award 


SAN DIEGO, June 24, 2004 - Michael Gallegos, president and CEO of San Diego-headquartered American Property Management Corp. (APMC), has been honored with an Ernst & Young Entrepreneur of the Year award for creating in just 14 years one of the nation's largest and fastest growing independent hotel companies.  
Gallegos, who relocated the already thriving company from New Mexico to
San Diego in 2000, earned the prestigious award in the Real Estate and Construction category on June 16.  Ernst & Young, which has presented its annual Entrepreneur of the Year award to the most successful and innovative entrepreneurial business leaders in San Diego since 1987, this year honored 36 regional entrepreneurial standouts in six industry segments.

Michael Gallegos
"This award is a tremendous honor and welcome recognition of the talent and hard work of APMC's capable personnel," Gallegos said.  "I accept this on their behalf, because it's their dedication to excellence that made APMC's successes possible."
Gallegos co-founded APMC in 1990.  In the 14 years since, the company has acquired 45 hotels and sold six, yielding a more than 100 percent average annual return for investors.
Today, APMC focuses on purchasing nonperforming and underperforming hotels and transforming them into successful properties through state-of-the-art financial systems, innovative food and beverage concepts, preventative maintenance, human resources support and creative sales and marketing.  The company's 39 hotels and resorts are located from coast to coast with 9,513 rooms, 5,000 employees, generating more than $300 million in annual revenues.  In addition to a successful network of independent hotels, boutique properties and resorts, APMC's hotel flags include Starwood Luxury Collection, Marriott, Hilton, Sheraton, Radisson, Holiday Inn, AmeriSuites, Ramada, Days Inn and Wyndham.
Most recently, APMC was ranked 10th of the Top 100 Independent, Third-Party Management Companies in the March 2004 issue of Hotel & Motel Magazine, and the 17th-largest hotel owner in the United States according to Hotel Business magazine rankings.  In the July 2003 issue of National Real Estate Investor magazine, APMC was ranked 10th of the Top 25 Hotel Owners.
APMC hotels have received more than 50 top awards from parent franchise companies.  The company's stellar track record earned it the privilege of being the only independent hotel company in the United States approved to manage the five-star Starwood Luxury Collection Hotel and Regent Hotel brands.
The Ernst & Young Entrepreneur of the Year program is well known for identifying the brightest business stars before they become household names.  Past winners include Michael Dell of Dell Computer, Ely Callaway of Callaway Golf and Dr. Irwin Jacobs of Qualcomm Inc.
American Property Management Corp.

Also See: After Years of Struggling in Downtown San Diego, the U.S. Grant Hotel Will Undertake a $10 million Renovation, Join Starwood's Luxury Collection / April 2004
Hotel Company Finds Holy Grail: Pleases Investors, Dramatically Reduces Courier Charges, Staff Overtime During Expansion Thrust / December 2001

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