|NORTHBROOK, Ill., Feb. 13, 2008 - As Lane Hospitality of
Northbrook, IL (http://www.lanehospitality.com ) -- one of the nation's
management companies -- builds on its portfolio of industry-leading,
well-branded hotels in the second-tier market niche, the company reports
continued growth with multiple projects on tap for the coming year. In
addition, with significant additions to its portfolio in 2007, Lane's total
revenue exceeded $120 million, a 20% gain over the prior year.
"During 2007, the company strengthened its mix of hotels with the acquisition
of such quality brand products as Marriott, Hilton and Crowne Plaza," said
Bill DeForrest, President and CEO of Lane Hospitality. "In 2008 -- with
more than $60 million in projects nearing completion -- we plan to continue
focusing on premium branded hotels very well positioned primarily in secondary
Projects for 2008 currently nearing completion
Crowne Plaza (http://www.crowneplazamilwaukee.com/ ) - Milwaukee/Wauwatosa,
WI [Prototype hotel]
The 198-room Crowne Plaza, featuring 8,000 square feet of flexible
meeting space, is under construction and scheduled to open March 31. This
100% non-smoking property replicates today's stylish residential design
features and offers such amenities as interactive flat screen TV, two unique
executive floors for both women travelers and corporate executives, and
will be home to "Innovation," the Milwaukee area's newest dining hot spot.
High Peaks Resort - Lake Placid, NY
The former Hilton Lake Placid Resort will be reintroduced this summer
in the heart of world-famous Lake Placid as the new upper upscale and casually
elegant High Peaks Resort on Mirror Lake. The evolution of this 133-room
resort will offer beautifully designed accommodations, numerous contemporary
and inviting dining and entertainment options, and outstanding conference
and catering facilities and services.
Courtyard by Marriott (http://www.gulfportbeachfronthotel.com/ )
- Gulfport, MS
Having suffered major damage during Hurricane Katrina, the Gulfport
Beachfront Hotel is about to complete a total rebuild and scheduled to
open in the spring. It will feature 148 refurbished guest rooms with
new furniture and flat panel TVs, 6,000 square feet of upgraded meeting
and event space including the new Coastal Ballroom, a 1,000 square-foot
fitness center and a new regional restaurant concept.
Hampton Inn - Gloucester, VA
This new 84-room hotel is under construction and scheduled to open
in May. Offerings include meeting facilities, a fitness center, indoor
pool and an on-site convenience store.
Crowne Plaza Milwaukee Hotel
10499 Innovation Drive
High Peaks Resort
1 Mirror Lake Drive
Lake Placid, New York
Lane Hospitality's accomplishments in 2007 include the acquisition
of the 273-room Hilton Hotel in Jackson, MS featuring 30,000 square feet
of conference space and the award winning Huntington's restaurant as well
as the 122-room Marriott Courtyard Hotel in St. Louis, MO. Lane was privileged
to be recognized in the industry with awards such as InterContinental Hotels
Group's Renovation Award to the Holiday Inn, El Paso/Sunland Park, TX and
a Quality Excellence Award to the Crowne Plaza in Clark, NJ.
Highlights of additional 2007 projects include:
Doubletree Hotel Annapolis & Ports of Call Restaurant
- Annapolis, MD
Formerly the Radisson Hotel Annapolis, this stylish 219-room hotel
and the casually upscale restaurant favorite known as "Ports of Call" opened
last spring with an extensive transformation and repositioning to celebrate
the historic city of Annapolis. All guestrooms, public spaces and
12,000 square feet of meeting and banquet facilities were extensively overhauled.
Hilton Hotel - Grand Rapids, MI
Close to the airport and downtown, this renovation was completed in
May. All 224 guestrooms and public space have been upgraded, including
the award-winning Spinnakers Restaurant & Lounge (cited a favorite
by Grand Rapids Magazine for Sunday Brunch), meeting space, and Hilton
Fitness by Precor(R) facilities with top line strength-training and cardio
SpringHill Suites by Marriott - Quail Springs/Oklahoma City, OK
Formerly an AmeriSuites hotel, this 128 all-suites 100% non-smoking
property opened last June after extensive renovations to all suites and
public areas including the meeting space and fitness room.
Hotel Indigo (http://www.ichotelsgroup.com/h/d/in/1/en/home )
- Chicago/Vernon Hills, IL
Formerly an AmeriSuites, this 127 all-suites boutique hotel opens spring
of 2008 on Chicago's North Shore as the trendy, high-style Hotel Indigo.
Significant renovations include all-new guestrooms with hardwood-style
floors, glass walk-in showers and flat panel TVs. Public spaces now boast
a new "Phitness" studio, business center, meeting space and restaurant
Holiday Inn - El Paso/Sunland Park, TX
This 176-room adobe-style property completed an extensive guestroom
and public space overhaul. Upgrades include a new, open lobby, high-tech
executive boardroom and ballroom, new fitness center and restaurant/bar
area with enhanced menu. Having received a renovation award from
InterContinental Hotels Group, this hotel continues to enjoy a dominant
position in its market place.
About Lane Hospitality
Formed by the Lane family in 1986, Lane Hospitality invests in and
manages hotels with such leading brands as Hilton, Intercontinental Hotels
Group and Marriott. With regional offices located in Chicago, IL, Houston,
TX, and Newport News, VA, the company challenges its associates to strive
for those service deliveries that will best enhance the overall guest experience.
Throughout its 25-year history, Lane has consistently been recognized by
such major industry publications as Hotel Business, Hotels magazine and
National Real Estate Investor as one of the nation's top performing management
and ownership companies. For information, visit http://www.lanehospitality.com.