Aimbridge to Manage Houston Embassy Suites

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. December 12, 2008

DALLAS, TX, Decber 12, 2008. Aimbridge Hospitality has been selected by Mac Haik Enterprises to manage the Houston (Texas) Embassy Suites-Energy Corridor, scheduled to open October 2009. The 216-room all-suite hotel is located along Interstate 10 at the Gateway to Houston's "Energy Corridor" and home to multi-national and local growth-oriented companies.

Aimbridge Hospitality is a Dallas-based hotel real estate and management company that provides renovation, supervision, accounting and consulting services for its strategic partners. Mac Haik Enterprises, a Houston-based investment company, and parent company to Mac Haik Realty LTD, is responsible for approximately 1.7 million square feet of office building and hotel development in the Energy Corridor. The 197,019 square-foot Houston Embassy Suites-Energy Corridor is part of an ongoing development project that includes two office buildings: Energy Tower I -- a 345,000 square-foot, 14-story building that is 100 percent leased, and Energy Tower II -- a 450,532 square-foot, 17-story building that is presently under construction and 90% pre-leased. Plans for an Energy Tower III building, which would mirror Energy Tower II, are under consideration.

"The Energy Corridor is the fourth largest employment center in the region, with more than 73,000 employees," said Mac Haik, chairman of Mac Haik Enterprises. "As a result of ongoing expansion among all energy companies here, including BP America, Chevron, ConocoPhillips, Exxon Mobile, Shell Oil Co., and Technip USA, demand is on the rise for first-class, full-service hotels in this area.

"There have been no full-service hotels developed in the Energy Corridor for the past 15 to 20 years," he said. "Hilton is a premier hotel brand, with Embassy Suites its crown-jewel, and therefore we chose this brand because it is the perfect fit for dignitaries from around the world, family members from across the globe, and mom and dad coming for a weekend getaway. Likewise Aimbridge Hospitality is the perfect company to manage our hotel because it is a high-quality management company with an exceptional track record in operating Embassy Suites hotels."

Ron Marshall, a senior Vice President in the retail division for Mac Haik Realty, said: "It was Aimbridge Hospitality's flexibility, the longevity of its executive team in the industry, and its proven relationship with Hilton and Embassy Suites hotels that facilitated the management contract."

"Aimbridge Hospitality is a company that moved quickly, decisively and fairly from the outset," Marshall said. "They are experienced in all facets of brand management and are extremely pleasant to work with. This being our first hotel venture, we see great opportunity with Aimbridge at the helm and believe this a solid capital investment."

The Embassy Suites-Energy Corridor is the third property in Houston managed, or to be managed, by Aimbridge Hospitality. The company began operating the Doubletree Hotel Houston Intercontinental Airport in August and will manage the Aloft Houston Galleria when it opens in July 2009.

"We are thrilled to have been chosen by Mac Haik Enterprises to manage the Houston Embassy Suites-Energy Corridor," said Dave Johnson, Aimbridge Hospitality President and CEO. "Not only are we adding another Houston hotel and Hilton brand to our portfolio, but this hotel will offer best-in-class hospitality to energy, healthcare, engineering and financial services companies while stimulating Houston's economy."

A key attraction of the Energy Corridor, Johnson said, is the convenience of working and living in the area. This includes shopping, dining and hotel accommodations, all conveniently located just minutes away.

"This property is ideal not only for the local business person seeking a quick spot to grab lunch, but it also serves as a dynamic destination for meeting planners," he said. "The Embassy Suites-Energy Corridor offers a variety of options to meet everyone's needs - especially international business travelers. We value our new relationship with Mac Haik Enterprises - an icon in Houston development and investment - and look forward to delivering an exceptional guest experience."

In addition to managing hotels under the Embassy Suites brand, Ambridge Hospitality also operates properties flying the flags of industry-leading companies such as Choice Hotels, Marriott, Hilton Garden Inn, Hampton Inn & Suites, Sheraton, Hyatt and Wyndham, as well as several independent properties.