Press Release: Prime Hospitality Corp.
December 15, 2000
FAIRFIELD, NJ -- Prime Hospitality Corp. (NYSE: PDQ) has announced it has signed a management agreement with Elite
Properties LLC to assume operations of its Hilton Garden Inn/Nashville Airport in Nashville, TN. The property is
currently under construction and is scheduled to open in March, 2001.
Under the five-year agreement, Prime will oversee all facets of day-to-day hotel operations, including sales and
marketing, human resources/staffing, and accounting. The six-story, 110-unit property will be located at 412 Royal
Parkway. It will be accessible to major freeways and convenient to downtown Nashville, the Grand Old Opry, Opryland,
the Tennessee Titans Coliseum and many office parks. The hotel will offer an indoor pool, meeting space for up
to 200 people, an exercise room, a business center, a lounge and restaurant serving breakfast, lunch and dinner,
and complimentary airport transportation. Additionally, all guest rooms will feature high-speed Internet access.
``We are pleased to begin a relationship with Elite Properties,'' noted Prime's Chairman and CEO A.F. Petrocelli.
``We expect this will be a very attractive property with great potential and we look forward to operating it as
effectively as possible.''
``Prime's outstanding reputation and management expertise were major factors in our selection process,'' noted
Ramesh Surati, President of Elite Properties. ``We expect this to be the beginning of a long and mutually beneficial
relationship between our companies.'' Nashville, TN based Elite Properties owns and operates several hotels in
the Tennessee and Texas markets. In addition to Mr. Surati, who is immediate past Chairman of the Asian American
Hotel Owners Association (AAHOA), other principals include Dan Patel of Brentwood, TN, Subhodh Patel of Lubbock,
TX and Mahesh Kisan of Nashville, TN.
Prime Hospitality Corp., one of the nation's premiere lodging companies, is an owner, manager and franchisor of
over 230 hotels throughout the United States. The Company operates two proprietary brands, AmeriSuites® (all-suites)
and Wellesley Inn & Suites® (limited service). Also within Prime's portfolio are owned and/or managed hotels
operated under franchise agreements with national chains including Hilton, Sheraton, Radisson, Holiday Inn, Ramada,
Country Inns and Howard Johnson. Prime can be accessed via the Internet at: http://www.primehospitality.com.
SOURCE: Prime Hospitality Corp.