The 233-room property will remain open through the acquisition. A multi-million dollar renovation of the building and the Hotel's interior design will commence in December 1999 and should be completed in March 2000. The Hotel will remain open during renovation and upon completion a new name may be contemplated.

Since 1981, Kimpton Group has acquired, significantly renovated and currently operates 24 hotels along the West Coast and Midwest of the United States, in San Francisco; Seattle; Tacoma, Wash.; Portland, Ore.; Chicago and Denver.

Kimpton Group is known for its European-style hotels that feature highly personalized service, including the charming Prescott Hotel in San Francisco, the fashionable Seattle Alexis Hotel, the hip Hotel Allegro Chicago and the newly opened Hotel Monaco in Denver. In addition, Kimpton Group will open the Hotel Monaco in Salt Lake City, Hotel Palomar in San Francisco and the Burnham Hotel in Chicago this summer.

The Kimpton Group is eagerly awaiting the opportunity to bring its operation to the very exciting, cosmopolitan and elegant city of Vancouver, British Columbia. This will mark the first hotel in Canada for the Kimpton Group. Operation of the hotel remains entrusted to a crew of Vancouver employees experienced in the hotel industry.