Company Press Release
July 21, 2000
NEW YORK, NY -- Green Stamp America, Inc. announced yesterday that Ms. Linus Raines has been appointed, from her
current position as General Manager of Arkansas' Excelsior Hotel, to join its business development team where she
will spearhead its hospitality development efforts. Ms. Raines' new responsibilities will become effective upon
the final closing of the partnership deal with the Peabody Hotel Group, announced more than one year ago by Green
Stamp America President, Masahiko Kasuga and Peabody Hotel Group President and Chairman, Marty Belz.
``Ms. Raines has provided Arkansas' Excelsior Hotel with more than a decade of unprecedented, top quality hotel
management and sterling community leadership, said Kasuga, representing the owners of The Excelsior Hotel. ''We
are very pleased that Linus will continue on as an important and valued member of our team and organization. Our
upcoming partnership with Marty Belz and the Peabody Hotel Group paves the way for our relationship with Linus
to expand significantly.``
``This is an irresistible opportunity and allows me to remain connected to the hospitality business and very involved
in the Arkansas community while broadening my horizons infinitely,'' said Raines.
Immediately following the closing of the deal, the Belz-Kasuga partnership will commence work on a more than $20
million renovation and redevelopment of the twenty story, 417-room luxury hotel which is situated on top of the
Statehouse Convention Center and located on the banks of the Arkansas River in the downtown district of Little
Rock, Arkansas. Renovations will include the installation of the traditional marble fountain and Royal Duck Palace
for The Peabody Little Rock Ducks. The renovations, slated for completion by September 2001, will include the comprehensive
renovation and upgrade of all guestrooms, public areas, restaurants and meeting rooms.
Upon final closing, Peabody Hotel Group will appoint Mr. Victor Mills to the position of General Manager of the
Little Rock property. Mr. Mills will oversee the redevelopment of the hotel and lead it's transition to becoming
The Peabody Little Rock.
Green Stamp America, Inc., based in New York, NY, is a diversified investment and management company that is actively
engaged in a broad spectrum of business activities. Included in the Green Stamp portfolio are ownership and management
interests in real estate projects including hotels, commercial buildings, residential developments and golf course
developments. Other activities include import and export, marketing services, retailing and more.
Peabody Hotel Group, based in Memphis, TN., is a subsidiary of Belz Enterprises, a leading U.S. development company,
which owns and operates 11 hotels: The Peabody Orlando, The Peabody Memphis, The Ridgeway Inn, Memphis, TN., Holiday
Inn Hotel, Boston/Randolph, MA., Hampton Inn Hotel, Boston/Natick, MA., Hilton Greenville & Towers, Greenville,
SC., Hampton Inn & Suites, Memphis, TN., Crowne Plaza Hotel, Boston/Natick, MA., The Hilton Inn, Little Rock,
AR., Holiday Inn Hotel, Boston/Somerville, MA., and The Peabody Little Rock.
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Contact:
Green Stamp America, Inc.
Ian Warburg, Vice President
Tel.: 407/345-4543
Fax: 407/363-1505
or
Peabody Hotel Group, Orlando
Alan C. Villaverde, Vice President
Tel.: 407/345-4543
Fax.: 407/363-1505