Press Release: Crestline Capital Corporation
October 10, 2000
BETHESDA, MD -- The Crowne Plaza Harrisburg has received the Bass Hotels & Resorts 2000 Newcomer of the Year
Award given to the most outstanding new hotel to enter the Crowne Plaza system each year. The award was presented
Tuesday, October 3, 2000, during the annual Bass Hotels & Resorts Global Investors Conference held in Las Vegas,
Nevada. The Crowne Plaza Harrisburg is managed by Crestline Hotels & Resorts, Inc., a subsidiary of Crestline
Capital. Owner's representative Fred Jahnig and Tom Baker, Senior Vice President-Development of Crestline Hotels
& Resorts, accepted the award on behalf of the Crowne Plaza Harrisburg.
``I am delighted that the Crowne Plaza Harrisburg has been recognized for its outstanding opening and pre-opening
achievements,'' said David L. Durbin, Executive Vice President of Crestline Hotels & Resorts. ``The sensational
opening of the hotel could not have been accomplished without the hard work and dedication of our staff and our
designer, R.D. Jones and Associates. With the upgrade in both physical and technological aspects of the hotel,
the new Crowne Plaza had the second highest opening quality evaluation in Crowne Plaza history. ''
A six-month, $10 million renovation transformed the former Ramada Plaza to the Crowne Plaza Harrisburg. The renovation
included all guestrooms and suites and 10,000 square feet of meeting space. Located at 23 South 2nd Street in the
heart of downtown Harrisburg, Pennsylvania, the 261-room property offers a full business center, fitness center,
turndown service and an executive level.
About the companies
Crestline Capital Corporation, parent company of Crestline Hotels & Resorts, is the nation's largest independent
hotel leasing company, majority owner of an upscale extended-stay hotel portfolio, and owner of one of the nation's
premier senior living community portfolios. Additional information about Crestline Capital Corporation is available
at the company's web site: http://www.crestlinecapital.com .
Crestline Hotels & Resorts manages and leases 33 hotels, resorts and conference and convention centers with
6,572 rooms in twelve states and the District of Columbia. Crestline Hotels & Resorts manages properties independently
and under such well regarded brands as Marriott, Hyatt, Hilton, Sheraton, Renaissance, Crowne Plaza, Hilton Garden
Inn, Holiday Inn, Courtyard by Marriott and Residence Inn. Additional information about the hotel management company
is available at the company's web site: http://www.crestlinehotels.com
Note: Certain matters discussed herein are forward-looking statements within the meaning of the Private Litigation
Reform Act of 1995. Certain, but not necessarily all, of such statements can be identified by the use of forward-looking
terminology, such as ``believes,'' ``expects,'' ``may,'' ``will,'' ``should,'' ``estimates'' or ``anticipates''
or the negative thereof or comparable terminology. All forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual transactions, results, performance or achievements
of the Company to be materially different from any future transactions, results, performance or achievements expressed
or implied by such forward-looking statements. These may include: (i) national and local economic and business
conditions or governmental regulations that will affect demand, prices, wages or other costs for hotels and senior
living communities; (ii) the level of rates and occupancy that can be achieved by such properties; (iii) the Company's
ability to compete effectively in areas such as access, location, quality of properties and rate structures; (iv)
the ability to maintain the properties in a first-class manner (including meeting capital expenditure requirements);
(v) the availability and terms of financing; (vi) governmental actions and initiatives including the REIT Modernization
Act; and (vii) changes to the public pay systems for medical care and the need for compliance with environmental
licensure and safety requirements. Although the Company believes the expectations reflected in such forward-looking
statements are based upon reasonable assumptions and business opportunities, it can give no assurance that its
expectations will be attained or that any deviations will not be material. The Company undertakes no obligation
to publicly release the result of any revisions to these forward-looking statements that may be made to reflect
any future events or circumstances.
SOURCE: Crestline Capital Corporation