Company Press Release
February 21, 2000
DALLAS, TX -- Bristol Hotels & Resorts (NYSE:BH) announced Friday that it has taken over management of the
Sheraton West Palm Beach.
The hotel is owned by West Palm Beach Investors LLC, of which an affiliate of Greenstreet Capital is a member.
Insignia ESG Hotel Partners, a wholly owned subsidiary of Insignia Financial Group (NYSE:IFG), is the asset manager.
The 349-room hotel is located at 630 Clearwater Park Blvd., in the heart of the West Palm Beach business and entertainment
district. The property overlooks the scenic 100-acre Clear Lake, and is adjacent to the Kravis Center for the Performing
Arts. Other nearby attractions include the new City Place retail and entertainment complex that is currently under
development, world class golf courses, and Palm Beach. Palm Beach International Airport is also conveniently located
five miles from the property.
``We are pleased to be able to expand our presence in Florida with the Sheraton West Palm Beach,'' said J. Peter
Kline, Bristol chairman and CEO. ``This newly renovated hotel is an excellent fit with our portfolio, and offers
business, group and leisure travelers an ideal location with first-class amenities and great restaurant and retail
support.''
In 1998, the Sheraton West Palm Beach underwent an extensive $4 million renovation that revitalized nearly every
area of the hotel. The property offers more than 15,000 square feet of meeting space, including a 6,600 square
foot ballroom. Features at the hotel include a fitness room, heated pool and jacuzzi, and two lighted tennis courts.
The hotel's restaurant and lobby lounge provide guests with a variety of dining and entertainment options.
Guestrooms feature convenient work areas, 25`` color televisions with cable TV, in-room coffee makers, ironing
boards and irons, and two telephones with voice mail and data ports.
With the addition of the Sheraton West Palm Beach, Bristol manages more than 3,000 rooms in Florida, including
three hotels in the Orlando area, and hotels in Cocoa Beach, Miami and Tampa.
Dallas-based Bristol Hotels & Resorts (NYSE:BH) is one of the largest independent hotel operators in the United
States and operates the largest number of Bass Hotels & Resorts branded hotels in the world, with more than
80 Crowne Plaza® and Holiday Inn properties. Bristol's 112 hotels include nearly 30,000 rooms in 24 states
and Canada. The company's hotels operate primarily in the mid-priced to upscale segments of the industry and are
located in 19 of the top 25 lodging markets in the United States. Bristol offers additional information and reservations
capabilities on its Web site: http://www.bristolhotels.com.
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Contact:
Bristol Hotels & Resorts, Dallas
Investor Relations Contact:
Jeffrey P. Mayer, 972/391-3100
or
Press Contact:
Amy Lambert, 972/391-3505