Concord Opens Three Texas Properties

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. June 10, 2009

RALEIGH-DURHAM, NC / THE COLONY, TX, June 10, 2009 - Concord Hospitality Enterprises, one of the nation's top-ranked hotel developer/owner/operators, today announced three separate hotel openings:

• the 104-room Fairfield Inn & Suites and

• the 104-room Residence Inn by Marriott, both in The Colony, a suburb of Dallas, and

• the 132-room Hilton Garden Inn in Arlington.

The newly-built properties mark the beginning of Concord's expansion into the Lone Star State, which will continue with an additional four properties, scheduled to open later this year in San Antonio, Houston and Webster, a Houston suburb. By the end of 2009, Concord will have increased its portfolio to a total of 60 owned and managed hotels, an increase of 10 properties since 2008.

"Despite the current recession, the Southwest is still a burgeoning market with numerous opportunities to establish strategic market share," said Mark Laport, CEO of Concord. "The Colony and Arlington properties are key additions and part of a long-term investment strategy-all three properties are located along major growth corridors. The Hilton Garden Inn Arlington is less than 10 minutes from the new Dallas Cowboys Complex, and The Colony properties will anchor The Cascades, a 100-acre master-planned, mixed-use suburb developed by Jackson-Shaw. By establishing the properties in these areas now, and by continuing to expand here in Texas, we are positioning ourselves to take full advantage of the area economy's anticipated rebound in 2010."

The Hilton Garden Inn Arlington, located at 2190 East Lamar in the heart of the Dallas/Fort Worth Metroplex, is less than 10 minutes from DFW Airport and the new Dallas Cowboys Complex and Glory Park Entertainment District. The hotel will feature more than 2,000 square feet of meeting space, a ballroom and a full-service dining restaurant, lounge and bar. Other amenities include an outdoor pool and Jacuzzi. Each guestroom will feature HD plasma TVs and high-speed Internet access.

The Residence Inn at The Colony, located at 6900 Cascades Court, will feature a 350 square-foot meeting room; a business library, exercise room, all-purpose sports center for basketball, tennis and volleyball, guest laundry facility; outdoor pool and whirlpool, and complimentary in-room high-speed Internet access.

The Fairfield Inn & Suites at The Colony, located at 5909 Stone Creek Drive, will feature a 6,764 square-foot events center, made up of a 3,454 square-foot ballroom, an 1,800 square-foot pre-function space and two meeting rooms totaling 1,510 square-feet. Additionally, the hotel will provide a business library, exercise room, guest laundry facility, outdoor pool and whirlpool, complimentary in-room high-speed Internet access and complimentary hot breakfast. The Cascades at The Colony will include 200,000 square feet of office space, 200,000 square feet of flex space and 100,000 square feet of retail space, in addition to the two hotel properties. KB Homes also is developing 184 townhome units and 108 garden homes in the complex.