Chicago, IL (September 19, 2012) – Ultima Hospitality, in partnership with Argosy Real Estate, announced the purchase and planned enhancement of the former Larkspur Mill Valley Hotel in southern Marin County, CA. Recently renamed Tam Woods Hotel, North San Francisco Mill Valley, the 100-key hotel newly completed a four million dollar renovation and will undergo an additional targeted improvement plan including a redesign of all guestrooms, remodeled public space and extensive improvements to the property’s exterior. Upon anticipated completion in December 2012, the property will be re-branded as a Holiday Inn Express. Ultima Hospitality will oversee the management and rebranding of Tam Woods Hotel.

Located at the base of Mount Tamalpais, Tam Woods Hotel is five miles from the northern terminus of the Golden Gate Bridge and 11 miles from downtown San Francisco. The hotel overlooks peaceful and environmentally protected wetlands, numerous bike paths and is within proximity to several of Northern California’s most visited attractions including Muir Woods, Stinson Beach and the renowned Napa Valley wine country.

“It’s exciting to be in a position to acquire and manage properties like Tam Woods Hotel. The hotel is already highly regarded in the area, and our planned improvements and dedicated management team will place it in a class of its own,” said Mark Zettl, chief operating officer, Ultima Hospitality.

Each guestroom features contemporary styling, a 42-inch HD flat screen TV, iPod docking station and complimentary wireless internet access. Many rooms are complete with a spacious deck or patio.

“Our guests are our number one priority and we are confident both our repeat clientele and new visitors will have a memorable experience that embraces the unique beauty of Marin County,” said Christina Giles, general manager.

Tam Woods Hotel boasts amenities including a heated outdoor pool area with an expansive deck, private cabanas, a whirlpool spa and an outdoor fire pit. A business center, modern fitness center and multiple meeting and event spaces are also available. During their stay guests enjoy daily breakfast, bicycle rentals, welcome beverages at check-in and s’mores kits each evening.

“We are pleased to partner with Argosy Real Estate on this exciting project. This purchase emphasizes our continued belief in the long-term outlook of the greater San Francisco market and our strategy of identifying and acquiring institutional quality, value-add assets in high barrier to entry markets,” said Nir Liebling, senior vice president and director of acquisitions, Ultima Hospitality.

For more information and reservations at Tam Woods Hotel, visit www.tamwoodshotel.com or call (855) 212-1968.

About Ultima Hospitality
Ultima Hospitality is a Chicago based hospitality management and real estate investment group. As the management arm of Waterton Commercial Properties, Ultima Hospitality manages both full and select-service properties leveraging more than 150 years of experience in hospitality and commercial real estate management among its senior leadership. Ultima Hospitality and its affiliates’ hotel portfolio include the Westin Columbus, OH, Sheraton Madison, WI, Sheraton Framingham, MA, and Doubletree Skokie, IL. A results-driven organization, Ultima Hospitality provides owners and investors with superior capital management, cost containment and extensive resources to ensure successful management in a constantly changing business environment. More information can be found at www.ultimahospitality.com

About Argosy Real Estate
Argosy Real Estate specializes in opportunistic real estate investments. Over the past 20 years we have partnered through joint venture structures with entrepreneurial management teams possessing significant local market knowledge and a demonstrated track record of success. Argosy currently has in excess of $150 million of assets under management, serving both institutional investors and high net worth individuals.  For more information, please visit www.argosyrealestate.com.

About Holiday Inn Express
Holiday Inn Express hotels are modern hotels for value-oriented travelers. Fresh, clean and uncomplicated, Holiday Inn Express hotels offer competitive rates for both business and leisure travelers. Guests Stay Smart® at Holiday Inn Express hotels where they enjoy a free hot Express Start® Breakfast Bar, free high-speed Internet access and free local phone calls (US and Canada only). There are currently more than 2,000 Holiday Inn Express hotel locations around the globe. For more information about Holiday Inn Express hotels or to book reservations, call 1-800-HOLIDAY or visit www.hiexpress.com.