Company Press Release
May 23, 2000
MILWAUKEE, WI -- Marcus Hotels and Resorts, a division of The Marcus Corporation (NYSE:MCS), has purchased The
Phillips House Hotel, a Kansas City, Mo. landmark property, with plans to undertake a complete restoration of the
hotel.
``The acquisition of The Phillips House Hotel represents an outstanding opportunity for our full-service hotels
and resorts division,'' said Lee A. Berthelsen, president of Marcus Hotels and Resorts. ``Our team is well-versed
in restoring the splendor, and profitability, of historic landmark hotels. Once the renovation is complete, we
expect The Phillips House Hotel to be a premier property that will make Kansas City proud.''
Marcus purchased the 240-room hotel from Kansas City Hospitality, L.P., a division of Wyndham International, Inc.
(NYSE:WYN - news). Marcus plans to embark on a restoration process that will include an enlargement and renovation
of all guest rooms and bathrooms, and refurbishment of all public spaces.
``In addition to restoring the hotel's unique and historic architectural elements, we hope to create downtown's
finest upscale, boutique hotel providing personalized service to individual business and leisure travelers, as
well as small groups,'' said Berthelsen. According to Berthelsen, the hotel will be closed for at least six months
to complete the renovation. He also noted that the project is being financed in partnership with the city through
tax incremental financing (TIF) funds.
``City officials have been extremely enthusiastic about our plans to restore this historic hotel,'' Berthelsen
said. ``Without their shared vision and cooperation, this project would not have been viable.''
``We are pleased to have Marcus Hotels and Resorts join the Kansas City hospitality community,'' said Kansas City
Mayor Kay Barnes. ``The restoration of this classic hotel will enhance the convention capabilities of the city
and certainly will be a destination in and of itself, one that will truly benefit our city.''
The property offers 10,000 square feet of meeting and conference space including a 2,300 square foot ballroom.
Originally the tallest hotel in the area and one of Kansas City's most luxurious hotels, it was built in 1931 on
the site of the Old Glennon Hotel, in which Harry Truman operated his famed haberdashery.
Marcus Hotels and Resorts operates seven other full-service hotels and resorts nationwide with the eighth under
construction in Madison, Wis. Marcus is known within the hospitality industry for its expertise in the renovation
and restoration of historic and/or culturally significant hotels. In 1962, the company restored the famed Pfister
Hotel in Milwaukee and in 1972, purchased and renovated the well-known Schroeder Hotel, a Milwaukee landmark that
was later renamed the Marc Plaza and eventually re-flagged as the Hilton Milwaukee City Center in 1995. In 1993,
Marcus purchased, totally renovated and restored the Grand Geneva Resort & Spa in Lake Geneva, Wis., originally
known as the Playboy Club Resort. In 1996-97 it transformed the 1960's vintage Erawan Garden Hotel into the Miramonte,
a luxury boutique resort in the Palm Springs area, surrounded by lush gardens. For more information on Marcus Hotels
and Resorts, visit www.marcushotelsandresorts.com.
Headquartered in Milwaukee, Wis., The Marcus Corporation is comprised of four divisions: limited service lodging,
movie theatres, hotels/resorts and restaurants. The company operates or franchises 171 Baymont Inns & Suites
in 30 states, and a total of seven Woodfield Suites in Illinois, Wisconsin, Colorado, Ohio and Texas; 470 movie
screens in Wisconsin, Ohio, Illinois and Minnesota, and one family entertainment center in Wisconsin; three hotels
and a resort in Wisconsin, one hotel and a resort in California and one hotel in Minneapolis; and 27 KFC and 3
KFC/Taco Bell 2-in-1 restaurants in Wisconsin. For more information, visit the company's Web site at www.marcuscorp.com.
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Contact:
The Marcus Corporation
Investors: Doug Neis, 414/905-1100
or
Media: Susan Stoga, 847/825-9250