Press Release
October 1, 1999
FORTRESS MONROE, VA -- Pelican Properties International Corporation (OTC BB:PELP) -- a real estate investment corporation
that owns and operates independent hotels in the U.S. -- is pleased to announce today that it has entered into
an agreement with Ramada Franchise Systems, a division of Cendant Corporation
(NYSE: CD), to operate and manage The McLure House Hotel and Conference Center in Wheeling, W. Va.
According to the agreement, The McLure House Hotel will be renamed the "Ramada Plaza City Center Hotel,''
but will continue to be wholly-owned by Pelican Properties.
Mr. John Knorr, Chief Executive Officer of Pelican, commented, "Our association with Ramada and Cendant should
benefit our customers and our company in many ways. As the world's largest hotel franchiser, Cendant delivers significant
brand recognition to The McLure along with innovative advertising and promotional programs. The McLure should also
benefit from the use of Ramada's national reservation system, which consists of about 75 reservationists. This
will further expand our sales initiatives to a nationwide level and offer our customers 24 hour/7 day per week
reservation services.
"I think it is equally important to note that the Ramada Plaza Hotel brand is synonymous with Ramada's most
exclusive and luxurious line of premier properties,'' added Knorr. "There are only 49 Ramada Plazas in the
United States, thus we are excited and honored to have qualified The McLure as a Ramada Plaza Hotel. Since the
McLure is the only AAA Three Diamond hotel in Wheeling, I believe it had a direct impact on achieving the Plaza
Hotel branding. In fact, when the McLure House Hotel changes its name to 'Ramada Plaza City Center Hotel' early
next month, it will become the only such named hotel in the country. Due to the McLure having a large ballroom
and excellent conference facilities, our City Center title appropriately describes the nature of our operation.''
Pelican Properties would also like to announce that is has moved its U.S. corporate headquarters to: 2 Fenwick
Road, Fortress Monroe, Virginia 23651. For additional information, shareholders and interested parties can contact
the Company at 757/224-5234 or via email at Pelicanshareholders@sybercom.com.
About Pelican Properties International Corp.: Based in Fortress Monroe, Va., Pelican Properties International Corp.
is a publicly traded real estate investment company that owns and operates established full-service, high-quality
independent hotels and resorts with a strong emphasis on the historic segment of the industry. As of June 30, 1999,
the Company owned and operated the historic 173-room McLure House Hotel in Wheeling, W. Va.; the 106 room Palmer
Inn located in Princeton, N.J.; and the historic 283 room Chamberlin Hotel located in Hampton Roads, Va.
Statements contained in this press release that are not based upon current or historical fact are forward-looking
in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results
to differ materially from estimated results. Management cautions that all statements as to future results of operations
are necessarily subject to risks, uncertainties, and events that may be beyond the control of Pelican Properties
and no assurance can be given that such results
will be achieved.
Contact:
Pelican Properties International Corporation
John Knorr, 757/224-5234