Company Press Release: Prime Hospitality Corp.
July 27, 2000
FAIRFIELD, NJ -- Wright Investment Properties, Inc. has announced it has signed a franchise agreement to develop
the first AmeriSuites hotel in downtown Washington, D.C. Groundbreaking is scheduled for December, 2000, with an
opening date expected by February, 2002.
The 208-unit, 14 story property will be located at Thomas Circle, at the intersection of Massachusetts Avenue and
14th Street. It will be situated less than half a mile from the new Washington, D.C. Convention Center, and within
walking distance of the White House, the National Monuments and the Smithsonian Museums and Mall. It will also
be five miles from Reagan Airport. The all-suite property will feature an indoor pool, 2,000 square feet of meeting
space and an exercise facility.
The hotel will be owned by Washington, D.C. Hotel Partners II, LP, and developed and managed by Wright Investment
Properties, Inc. under a 20 year franchise agreement with AmeriSuites. Principals include President Larry Wright,
Sr.; Executive Vice President Charles Swan and Vice President, Development, Larry Wright, Jr. While this is the
first AmeriSuites in the Nation's Capitol, there are 187 open or under development throughout the United States.
``We selected the AmeriSuites franchise because it is the right flag to compete in this upscale market,'' explained
Larry Wright, Sr. ``Also, the support we have received from the corporate headquarters has enabled us to move quickly
on this exciting development. We are anticipating a long and mutually beneficial relationship with AmeriSuites.''
``This will be a high-profile property for AmeriSuites and we are pleased to be partnering with hotel operators
as well-respected as Wright Investments,'' noted Vice President of Franchise Sales and Development Charles Noonan.
``We're confident this will be a very successful project for all involved.''
Wright Investment Properties, Inc. is a Memphis-TN, based hotel owner and management company which currently operates
24 hotels in the southeast and mid-Atlantic areas under franchise agreements with national chains including Marriott,
Hilton, Holiday Inn, Radisson and Sheraton.
AmeriSuites® is a trademarked proprietary brand of Prime Hospitality Corp. (NYSE: PDQ), headquartered in Fairfield,
NJ. Prime currently owns, manages and/or franchises over 230 hotels throughout the United States under its proprietary
trade names AmeriSuites®, and Wellesley Inn & Suites® and under franchise agreements with national
hotel chains. There are presently 187 AmeriSuites properties open or in development, with primary concentration
in key markets such as Atlanta, Chicago, Cincinnati, Denver, Miami, Dallas and Nashville. All properties feature
business class rooms, and complimentary breakfast buffets and spacious suites with separate living and sleeping
areas, kitchenettes, video cassette players and irons and ironing boards. AmeriSuites can be accessed via the Internet
at: http://www.amerisuites.com or through its central reservation system,
1-800-833-1516.
SOURCE: Prime Hospitality Corp.