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FaulknerUSA Exclusively Negotiating with Hyatt Corporation
to Operate Proposed 1,000 room Convention
Headquarters Hotel in San Antonio

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February 17, 2005 � (SAN ANTONIO) � FaulknerUSA, the developer of the San Antonio convention headquarters hotel, announced today it has begun exclusive negotiations with Hyatt Corporation to become the project�s operator. 

Hyatt currently operates two properties in San Antonio � the Hyatt Regency San Antonio and the Hyatt Regency Hill Country Resort and Spa � and is recognized as a leader in the hotel industry. 

�After months of evaluation to find the right hotel operator that will bring the highest quality operating standards to this extensive project, we are excited about a possible partnership with Hyatt,� said FaulknerUSA Vice President Laura Roe. �Hyatt is a proven hotel operator and industry leader that has a long history of service in the San Antonio community.� 

Should an agreement be finalized, Hyatt would operate the 1,000-room convention headquarters hotel, which is projected to create 600 new jobs. With an estimated project value of more than $200 million, the hotel is scheduled to open in 2008.

�The innovative design of the San Antonio convention hotel will truly make it a city landmark,� said Steven Goldman, Executive Vice President, Hyatt Corporation. �Hyatt is looking forward to being a part of this exciting project and enhancing it with our stellar operations, international reservations system and guest services.� 

Headquartered in Austin, Texas, FaulknerUSA is a national development and construction company with a 40-plus-year record of excellence. 

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Contact:
Terri Dusek 
512/652-4037
Also See: Woodbine Development Corporation Obtains $74.25-million Construction and Permanent Loan for $135-million Hyatt resort Near Austin, Texas / September 2004
San Antonio's August, 2003 Hotel Tax Collections Up 10.7% Compared to Previous August; Hyatt Regency Hill Country Resort Had Best Summer of its 10-year History / September 2003
Steven DeFelice Named Director Of Sales & Marketing For Hyatt Regency San Antonio / January 2005


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