Acquisitions & Hotel Openings

Omni Hotels & Resorts to Construct and Operate 600-room Convention Hotel in Louisville, Kentucky

The Omni Louisville Hotel will Open in 2017

DALLAS - March 10, 2014 - Omni Hotels & Resorts and Louisville Metro Government announced it has entered into an agreement to develop a 600-room convention center hotel in downtown Louisville, Ky. Situated one block from Kentucky International Convention Center, the new Omni Louisville Hotel will be the first four-diamond, luxury hotel in the area, and will feature 600 guestrooms and suites, 70,000 square-feet of meeting space, a spa, fitness center, two full-service restaurants, rooftop pool-side café, street level retail venue, and a lobby lounge. The hotel is expected to achieve LEED Silver certification.

Located on Water Company Block at W. Liberty and 3rd Street, the hotel will be the cornerstone in the city's most exclusive entertainment, retail and office district, "Fourth Street Live!," which is Kentucky's most visited attraction drawing more than 4.5 million visitors per year. The Cordish Companies, the developer of "Fourth Street Live!," will work with Omni in partnership with the city and state to develop the $261-million dynamic, mixed-use complex. It will also feature residential apartments, a flagship grocery store-anchored retail, and an underground parking garage that will serve all three entities. The project will be funded through the public/private partnership, with the land to be donated to Omni and The Cordish Companies.

"This project is a major infusion in our downtown and to the city's entire economy," said Louisville Mayor Greg Fischer. "It will create jobs, both temporary construction positions and permanent jobs, and it will boost our convention and tourism industry as Omni provides a new level of luxury hotel."

"We are pleased to announce the development of the Omni Louisville Hotel," said Mike Deitemeyer, president of Omni Hotels & Resorts. "Louisville is a thriving city, and we are ready to work in partnership with the city and The Cordish Companies to develop a full-service, four-diamond hotel that will bring more meetings and conventions, as well as business and leisure travelers to the area."

The hotel is scheduled to open in 2017 and will be the first Omni property in Kentucky. Omni will focus on creating exceptional local experiences for its guests by showcasing the local flair of Louisville throughout the hotel's design and décor, culinary, and retail venue. In addition to the 70,000 square-feet of meeting space planned for the hotel, meeting and convention attendees will have access to an additional 300,000 square-feet of meeting and exhibit space at the Kentucky International Convention Center.

"The addition of a four-diamond Omni convention hotel, downtown grocery store and upscale apartments will be a major catalyst for growing the city's convention business and helping to make the downtown a 24-7 community," said Cordish vice president Blake Cordish. "We are incredibly proud to play a role in the revitalization of downtown and we are committed, in partnership with the city, state and Omni, to develop a best-in-class development that will be a source of pride for the community."

The Omni Louisville Hotel will become a part of Omni's robust, and growing, Convention Collection, which features signature properties in Atlanta, Dallas, Fort Worth, Nashville, Providence, and Washington D.C.

About Omni Hotels & Resorts

Omni Hotels & Resorts creates genuine, authentic guest experiences at nearly 60 distinct luxury hotels and resorts in leading business gateways and leisure destinations across North America. With over 20 world-class golf courses and award-winning spa retreats, to dynamic business settings, each Omni showcases the local flavor of the destination while featuring four-diamond services, signature restaurants, Wi-Fi connectivity and unique wellness options. Known for its distinguished, personalized service, Omni leaves a lasting impression with every customer interaction, with a heightened level of recognition and rewards delivered through its Select Guest loyalty program and the company's "Power of One" associate empowerment program. The brand is frequently recognized by top consumer research organizations and travel publications. To get additional information or book accommodations, visit omnihotels.com or call 1-800-The-Omni.

About The Cordish Companies

The Cordish Companies' origins date back to 1910 and encompass four generations of privately-held, family ownership. During the past ten decades, The Cordish Companies has grown into a global leader with four major areas of expertise: (i.) Real Estate Development; (ii.) Gaming & Lodging; (iii.) Entertainment Management; and (iv.) Private Equity Holdings. Over the generations, The Cordish Companies has remained true to the family's core values of quality, entrepreneurial spirit, long-term personal relationships and integrity. As a testimony to the long-term vision of its family leadership, The Cordish Companies still owns and manages virtually every business it has created.

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New Developments and Best Practices on Maximizing Revenue Management
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