Crestline Hotels & Resorts Announces the Opening of the Historic Stonewall Jackson Hotel in Staunton

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. October 14, 2008

STAUNTON, VA, Sepember 22, 2005. Crestline Hotels & Resorts, Inc. today announced the opening of the newly restored and expanded Stonewall Jackson Hotel & Conference Center. Situated in the historic downtown district of Staunton, the property is in the heart of Virginia's Shenandoah Valley. The hotel's complete refurbishment includes 124 deluxe guestrooms and nearly 11,000 square feet of elegant meeting, pre-function space and dining space.

The Stonewall Jackson Hotel & Conference Center originally opened in 1924, and was recently recognized by the National Trust for Historic Hotels of America for its architectural significance and design by architect H. L. Stevens. The hotel is owned by the Persinger family and Armada Hoffler, and is managed by Crestline Hotels & Resorts. The restoration includes a $21.1 million renovation and expansion that preserves the hotel's historic character while providing guests with modern amenities, services and accommodations. The hotel is part of the overall downtown revitalization efforts of the Staunton community.

Dave Durbin, President & CEO of Crestline Hotels & Resorts, said, "The Stonewall Jackson Hotel is a wonderful part of American history, and we are proud to be part of its restoration. Our management team and staff are committed to providing guests outstanding service, and we are honored to have helped the community of Staunton return the Stonewall Jackson Hotel to its position of grandeur."

"The reopening of the Stonewall Jackson Hotel & Conference Center represents a new era in the property's history," added Carol Simon, General Manager of the Stonewall Jackson Hotel & Conference Center. "The staff looks forward to welcoming guests with outstanding service and hosting many gala events and conferences. We trust that everyone who enters the Stonewall Jackson Hotel & Conference Center will enjoy a memorable experience."

The Stonewall Jackson Hotel & Conference Center

The Stonewall Jackson Hotel & Conference Center is located at 24 S. Market Street in Staunton, VA, in the heart of the scenic and historic Shenandoah Valley. It is within walking distance to Staunton's historic Main Street, five Historic Districts, The Blackfriars Playhouse, Woodrow Wilson's Birthplace and Museum, Mary Baldwin College, and is in close proximity to area golf. At the crossroads of I-64 and I-81, the Stonewall Jackson Hotel & Conference Center is a scenic drive from all directions including Richmond, VA, Washington, DC and Philadelphia, PA. It is also regularly served by AMTRAK.

The hotel includes 124 deluxe guestrooms and nearly 11,000 square feet of elegantly appointed meeting, pre-function and dining space including the historic Colonnade Ballroom with its signature 1924 restored Wurlitzer organ. The hotel's historic dining room is open daily. Cocktails and light refreshments will be available in the Lobby Lounge. In addition, the hotel offers room service. For more information and reservations, please visit the hotel's web site http://www.stonewalljacksonhotel.com/ or contact: 540-885-4848 or toll-free 866-860-0024.

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; (ii) the level of rates and occupancy that can be achieved by such properties; (iii) the Company's ability to compete.