Press Release
March 15, 2001
VANCOUVER, British Columbia -- Wyndham International, Inc. (NYSE:WYN) has signed an agreement to manage a full-service
upscale hotel to be built in downtown Vancouver as part of a major high rise residential and hotel tower.
The Amacon Group of Companies, a Vancouver-based development company, is developing the project, expected to be
completed in 2004.
``Vancouver is one of the most exciting business and leisure travel markets in North America and we are excited
to be a part of this planned mixed use development,'' said Fred J. Kleisner, chairman and chief executive officer
of Wyndham. ``Our investment in the management contract is a measure of our commitment to this new hotel and market.''
The proposed hotel will be located at the corner of Melville Street and Bute Street. The site is currently occupied
by a five-story office building owned by Amacon.
The new Wyndham hotel will include approximately 300 guestrooms and feature more than 16,000 square feet of meeting
space, including an 8,000 square foot ballroom. Other features include a 121-seat restaurant, a 60-seat lobby bar,
a business center, a gift shop and an outdoor swimming pool. The remainder of the building will be comprised of
residential condominiums above the hotel.
``We are delighted to have Wyndham as the anchor for our proposed development,'' said Amalio De Cotiis, chairman
of Amacon. ``This tower will be a distinctive landmark in Vancouver and a focal point for business, conference
and leisure travelers, as well as for gracious living in downtown.''
Amacon will develop the property utilizing ``strata'' condominium sales, with each hotel and residential unit sold
individually. The hotel units will become part of the hotel rental pool. Wyndham International, which will not
have an equity position in the new building, will be investing an undisclosed amount at the completion of the project
to obtain the hotel management rights.
The Vancouver hotel will be third Wyndham-branded hotel in Canada. Others include the Wyndham Bristol Place --
Toronto Airport and the Wyndham Montreal.
Wyndham guest rooms feature the company's ``Room That Performs'' amenities, which include Serta® mattresses
dressed in luxurious duvets/coverlets, decorative pillow shams and bed skirts, and Joseph Abboud® queen-size
pillows, pillowcases and sheets. Wyndham guestrooms feature the Herman Miller® ergonomic desk chair and an
oversized work desk, two-line cordless telephones and high-speed Internet access.
``Wyndham is recognized for offering guests all the comforts of home, including a high-tech work environment for
those guests who need to stay 'in-touch' with work or family while on the road,'' said Ted Teng, president and
chief operating officer of Wyndham.
Wyndham International, Inc. (NYSE:WYN) offers upscale and luxury hotel and resort accommodations through proprietary
lodging brands and a management services division. Based in Dallas, Wyndham International owns, leases, manages
and franchises hotels and resorts in the United States, Canada, Mexico, the Caribbean and Europe. For more information,
visit www.wyndham.com. For reservations, call 800-Wyndham.
Amacon is a family-owned and operated business with over thirty years of building experience. They have developed
many of Vancouver's premier residential landmarks including the 501 on Pacific Ave. and Palladio at Coal Harbour
in Vancouver. Amacon continues to strive towards building enjoyable communities, peaceful neighborhoods and quality
homes.
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Contact:
Wyndham International, Inc., Dallas
Analyst Inquiries:
Elizabeth Williams, 214/863-1389
ewilliams@wyndham.com
or
Media Inquiries:
Fred Stern, 214/863-1258
fstern@wyndham.com