|SPRINGFIELD, Mo. & LAWRENCE, Kan. - June 16, 2005 -- Mr. John Q.
Hammons today announced he has entered into negotiations to develop a major
hotel in Lawrence, Kansas. The property will be equipped with more than
200 rooms and approximately 40,000 square feet of flexible meeting space.
Construction of the hotel is slated to begin in 2006, and the property
will be owned by Mr. John Q. Hammons and managed by Springfield, Mo.-based
John Q. Hammons Hotels, LLC (AMEX:JQH), the nation's leading independent
builder, developer, owner and manager of upscale, full-service hotels,
resorts and suites.
The new hotel will be strategically located at the intersection of 6th
and 7th streets and New Hampshire and Rhode Island streets, which is one
mile from Interstate 70, and also serving the Lawrence area is U.S. Highway
59 and K-10. Adjacent to the University of Kansas, the property will provide
easy access to the campus and prominent local sports complexes such as
the University of Kansas' Allen Field House and Memorial Stadium.
"We've been interested in the Lawrence area for many years, and are
focused on bringing a quality, upscale hotel to this region," said Mr.
John Q. Hammons, founder, chairman and chief executive officer of John
Q. Hammons Hotels, LLC. "We are particularly impressed with the strength
of Lawrence's downtown area, and we know that this development will compliment
the economic growth of the city nicely, while providing a destination for
visitors and residents for years to come."