MADISON, Wis. (March 14, 2011) – Completion of HotelRED, an independent boutique hotel located at the corner of Monroe and Regent streets in Madison, Wis. and with views to Camp Randall Stadium, began this morning. According to the Red Hospitality LLC, the new ownership group, the final construction phase is underway and the plan is to open HotelRED this summer. Red Hospitality is working with Kraemer Brothers LLC, the construction firm that has worked on the project since it first launched in 2008. With final work commencing, Red Hospitality has discussed plans with 13th District Ald. Julia Kerr to let homeowners and business owners know the plans for completing the hotel and for creating ties to the neighborhoods and the community of Madison.

New Ownership Group
Red Hospitality, based in Houston, Texas, with real estate holdings in Texas and Ohio and a background in restaurants and hospitality, will oversee its completion and operations going forward. Red Hospitality is excited to make the hotel as wonderful a destination as was always intended.

Management Firm Hired
Inn Development and Management Group (www.inndevmgmt.com), based in Fort Atkinson, Wis. and specializing in the management and marketing of independent downtown boutique hotels around the Midwest, has been hired to manage the hotel.

Work Yet to Be Done
It’s primarily interior work – furnishings, fixtures and equipment – that needs to be completed on this 48-room property. There will also be lighting, signage and streetscaping added to the exterior.

Hotel Opening
The goal of the owners is to open this summer.

Ties to the Community
Red Hospitality plans to take the best elements of Madison and infuse those into the HotelRED experience. Look for promotion of the shops of Monroe and Regent streets and Madison signature events; partnerships with local artists; and a menu that features the food of local farmers. The aim is to make HotelRED a genuine point of pride for the community and a preferred overnight destination for visitors to Madison.

Creating Jobs
It is anticipated HotelRED will create approximately 50 full- and part-time jobs.

Expected Mix of Visitors
HotelRED should be an easy choice for professionals visiting in advance of relocating to the area, visiting professors and government leaders, alumni, parents of children attending one of the area colleges, long-term-stay business people, and leisure travelers who search out boutique hotels when they travel.

Key Contacts on the Project

• Mike Erikson, President, Red Hospitality
• Connie Barbian, Hotel Management Lead, Inn Development and Management Group
• Bill White, Project Liaison, Madison office of Michael Best & Friedrich LLP