�This is an exceptional opportunity to acquire a large concentration of guestrooms with significant upside potential in one of the strongest lodging markets in the nation,� said Arthur Adler, Managing Director, Americas, of Jones Lang LaSalle Hotels.  �These hotels are available for purchase as a portfolio or individually, and all are prime candidates for upbranding and repositioning.�

Occupancy in the Washington, D.C. hotel market has increased to levels in excess of 70 percent, and average rates have posted a compound annual growth rate of 4.8 percent since 1994. For the five-year period between 1994 and 1999, RevPAR (Revenue Per Available Room) has increased at an average annual compounded rate of 5.8 percent.

According to Thomas Fisher, Senior Vice President of Jones Lang LaSalle Hotels, �Washington�s economy is projected to enjoy significant growth from recently completed, public/private partnership developments such as the MCI Center and the expansion of the Ronald Reagan Washington National Airport. A second, $800 million convention center, which will open in March 2003, will increase the city�s destination business significantly.�

Once completed, D.C.�s new convention center will be the sixth largest facility in the country and is projected to generate an additional $780 million into the local economy during its first five years of operation. 

The hotels are proximate to Dupont Circle and the Golden Triangle Business Improvement District - popular areas for dining, shopping and entertainment.  Cultural and tourist attractions including the Mall, Embassy Row, the White House, the Washington Monument and the original Convention Center are also nearby.

Industry-leading firms such as America Online, Lockheed Martin, Marriott International, Unisys and Worldcom (formerly MCI Worldcom) are headquartered in the Washington Metropolitan area. The District is also home to four of the world�s most influential financial institutions: The World Bank, The International Monetary Fund, The U.S. Export-Import Bank and The Inter-American Development Bank.

Jones Lang LaSalle Hotels, the leading hotel investment banking services group in the world, provides clients with value-added investment opportunities and advice.  Its recent two-year success story includes the sale of 17,027 hotel rooms to the value of $2.2 billion in 75 cities and advisory expertise for 200,036 rooms to the value of $29.8 billion across 278 cities.  Jones Lang LaSalle Hotels� services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research.  Jones Lang LaSalle (NYSE: JLL) is the world�s leading real estate services and investment management firm, operating across more than 100 key markets on five continents.