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Boykin Lodging Announces Grand Opening of the White Sand Villas at its Pink Shell Beach Resort

Press Release: Boykin Lodging Company
March 22, 2004
CLEVELAND, OH -- Boykin Lodging Company (NYSE: BOY), a hotel real estate investment trust (REIT), yesterday announced that it will celebrate the grand opening of White Sand Villas, the new 92-unit hotel condominium tower at its Pink Shell Beach Resort in Fort Myers Beach, Florida, on Saturday, March 20, 2004. The tower features 92 one- and two- bedroom beachfront units with spectacular views of the Gulf of Mexico.

The Company's Chairman and Chief Executive Officer, Robert W. Boykin, will be hosting the celebration and will be joined by owners of the White Sand Villas as well as owners of other units at the resort, community leaders and real estate brokers.

Mr. Boykin stated, "We are extremely excited about the results of this project; the building, its unique design features and its location are second to none. Pink Shell Beach Resort will set the new standard for luxurious, yet family-oriented, vacationing on Fort Myers Beach."

"We have two reasons to celebrate at this time: the completion of White Sand Villas is only the first. In addition, we have just begun the marketing of the final phase of Pink Shell, Captiva Villas," Mr. Boykin continued. "We continue to see a strong demand for hotel condominiums on the beach and prices continue to rise, which is good for current owners of units at Pink Shell as well as for our Captiva Villas project."

The Company stated that it anticipates starting construction of the 43- unit Captiva Villas in the summer of 2004, subject to obtaining financing and a sufficient level of pre-sales.

Boykin Lodging Company is a real estate investment trust that focuses on the ownership of full-service, upscale commercial and resort hotels. The Company currently owns 28 hotels containing a total of 8,195 rooms located in 18 states, and operating under such internationally known brands as Doubletree, Marriott, Hilton, Radisson, Embassy Suites, and Courtyard by Marriott among others. For more information about Boykin Lodging Company, visit the Company's website at www.boykinlodging.com .

Certain matters discussed within this press release may contain "forward- looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations. Except for historical information, the matters discussed in this release are forward- looking statements that involve risks and uncertainties that may cause results to differ materially from those set forth in those statements. Among other things, factors that could cause actual results to differ materially from those expressed in such forward-looking statements include financial performance, real estate conditions, execution of hotel acquisition programs, changes in local or national economic conditions, and other similar variables and other matters disclosed in the Company's filings with the SEC, which can be found on the SEC's website at http://www.sec.gov .
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     Contact: Shereen P. Jones
              Executive Vice President,
              Chief Financial and
              Investment Officer
              Boykin Lodging Company
              (216) 430-1200

Source: Boykin Lodging Company