FAIRFIELD, N.J., June 4, 1999 - Prime Hospitality
Corp. (NYSE: PDQ) has announced it has signed management contracts with
National Lodging to provide hotel management services for five full and
limited-service hotels in Minnesota.
Under the ten year agreements effective June 1, 1999, Prime will manage
all sales and operations functions for the properties, including human
resources, accounting and marketing. The addition of the new properties
brings Prime's portfolio to over 200 properties and also adds the Country
Inn, Days Inn and Comfort Inn brands to the company's mix. Joining
Prime's national portfolio are:
| Country Suites, Chanhassen, MN -- This 120 room property is
located in suburban Minneapolis adjacent to the Chanhassen Dinner Theatres
and Cinemas and is four miles from Lake Minnetonka and eight miles from
Valleyfair Amusement Park, Canterbury Park and the Renaissance Festival.
The hotel features an indoor pool, whirlpool and exercise facility, complimentary
expanded continental breakfast, conference facilities for up to 120 and
a lounge. |
| Country Inn, White Bear Lake/St. Paul, MN -- This 90 room property
is situated ten minutes north of downtown St. Paul, and is walking distance
to the White Bear Lake and within fifteen minutes of the Como Park Zoo
and Historic Stillwater. Amenities include an indoor pool, sauna
and courtyard banquet area surrounded by a three-story atrium, Spinnakers
Restaurant and Lounge, meeting facilities for up to 300 and executive suites
with refrigerators, microwaves and fireplaces. |
| Comfort Inn & Conference Center, Rochester, MN -- This 165
room full-service hotel is located near the Mayo Clinic and the Mayo Civic
Center. All guestrooms feature microwaves, refrigerator and coffeemakers,
and jacuzzi suites are also available. Other amenities include complimentary
continental breakfast, a water recreation playground, indoor pool and sauna,
Regal's Bistro and the Backstreet Pub. |
| Ramada Limited, Rochester, MN -- This 120 room limited-service
hotel is situated close to the Mayo Clinic, IBM and the Mayo Civic Center.
Each guestroom has a microwave, refrigerator and coffeemaker, and a complimentary
continental breakfast is offered. The hotel also features an indoor
recreation area including a pool, whirlpool and game room as well as a
seasonal sundeck and volleyball court. |
| Days Inn, Burnsville, MN -- This 112 room limited service hotel
is located within 15 minutes of the Mall of America, Valleyfair, Murphy's
Landing, Mystic Lake Casino and the Minnesota Zoo. Amenities include
free continental breakfast, indoor pool, whirlpool, game room, and conference
facilities for up to 25. Suites with microwaves and refrigerators
are also available. |
"We are pleased to be establishing a relationship with a respected,
experienced management company such as Prime," noted Jerry Easley, Chief
Financial Officer of National Lodging. "This arrangement permits
us to concentrate on expanding our portfolio with ground-up development
while being assured that our existing hotels are well-operated."
National Lodging CEO John Klinkhammer also noted that future joint
development will include a Hilton Garden Inn in Oakdale, MN, on land currently
owned by National Lodging. The 144-unit project, adjacent to the
new Prom Catering facility, should be under construction within 60-90 days
and open in early 2000. Mr. Klinkhammer also added that Prime will
manage all future projects.
"These new contracts allow Prime to have a greater presence in the
growing Minneapolis market while also broadening our brand portfolio,"
said A.F. Petrocelli, Chairman & CEO of Prime. "We look forward
to a mutually-beneficial, long-term relationship with National Lodging."
National Lodging is an Eden Prairie, MN-based hotel owner and developer.
Prime Hospitality Corp., one of the nation's premiere lodging companies,
owns, managers, and franchises over 200 hotels throughout the United States
and the U.S. Virgin Islands. The company owns and operates three
proprietary brands that compete in different segments: AmeriSuites(R) (all-suites),
Wellesley Inns(R) (limited service) and HomeGate Studios and Suites(R)
(extended stay). Also within its portfolio are owned and/or managed
hotels operated under franchise agreements with national hotel chains including
Hilton, Radisson, Ramada, Crowne Plaza and Sheraton. |
