Coakley & Williams Steps Up Expansion in 2008

Adds Five New Management Contracts in first 100 days of 2008

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. October 14, 2008

MAY 5, 2008. Following record growth in 2007, Coakley & Williams Hotel Management Company has added five additional third-party management agreements in the first 100 days of 2008, including its first assets in Texas and Tennessee.

'Our new properties, including our third condo-hotel, continue to expand our company vision of 'peace and success for all'' said Kevin B. Sawatsky, Vice President of Development. 'In addition to systems and accountability, our team brings real peace of mind and a sense of confidence to our clients and their hotels.'

Today, with nearly 3,500 guestrooms under contract in 24separate assets spread around the country, Coakley & Williams operates properties ranging from 330 to 50 rooms in both the full- and select-service segments. The 2008 additions continue the company's focus on working with owners to maximize the returns on a variety of hospitality investments.

'Our hotels and restaurants, including the new additions, are owned by wonderful owners who have very real and pressing needs,' said Gary S. Williams, President & CEO. 'Our company is perfectly suited to meet those needs because of our flexibility and consistent reputation for solving those challenges.'

The expansion is not slowing. "We are excited about the variety of additional opportunities on which we're currently working,' said Kevin Sawatsky, Vice President of Development. "Our size, combined with our team's exceptional depth of experience, uniquely positions us to maximize returns for our clients, both domestically and outside of the United States. That's what our trademark 'caring and compassionate approach to success' is all about.'

Since 1961, Coakley & Williams Hotel Management Company has developed its reputation as a national, high-performance management company, sharply focused on helping hospitality investors succeed. The company has extensive experience with all property types and in all phases of the hotel business, and currently manages both franchised and independent properties in ten states and Washington D.C. under long-term agreements. The company has recently broadened its capabilities, adding franchised restaurants and condo-hotel operations to its hotel portfolio.