Sage Hospitality Selected for Innovative Public-Private Partnership with The Metropolitan State Coll

Sage Partners with College on Creative Business/Learning Venture to Train Future Leaders for the Hos

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. September 25, 2009

DENVER, CO, September 24, 2009 - Sage Hospitality, a nationally recognized leader in hotel development and management, today announced that it will join an innovative public private partnership with The Metropolitan State College of Denver and M.A. Mortenson Co. to develop and operate a 190-room hotel slated to house the schools rapidly expanding Hotel Learning Center. Mortenson Co. will serve as the developer /contactor and Sage will provide management services for the hotel, which is expected to open in 2012.

The Sage/Mortenson group was selected by Metro State from a highly competitive pool of 20 RFPs that were submitted in response to solicitation of proposals for the project. The $30 million hotel will be owned by the colleges foundation. A capital campaign for an additional $8.5 million to finance the cost of classrooms, faculty offices, a wine cellar and a teaching kitchen at the hotel will also be launched.

"This is very different from doing just a private venture, and it has benefits for the community including the hotel learning center, jobs, as well as new tax sources for the city and state", said Walter Isenberg, co-founder, president and CEO of Sage Hospitality Resources. "The hotel will provide innovative experiential learning opportunities for hospitality and tourism students. Thats an additional benefit that is very exciting".

Envisioned to create a gateway to Denver's Central Business District and the Auraria campus, the hotel will be located at the Northeast corner of Larimer and Speer Boulevard. Stephen Jordan, president of Metro State, observed that the hotel will serve as a great downtown amenity and as an outstanding new home for the schools ambitious hospitality program.

"We're very excited about it, Mr. Jordan said. One of the reasons we feel so strongly about this being the right thing to do is that we have more than 500 students majoring in the hospitality program. Weve had more than threefold growth in the last 10 years".

About Sage Hospitality

Founded in 1984, Sage Hospitality has strategically grown into one of the largest privately held hotel management and development companies in the nation operating a variety of large, full-service hotels and a number of extended stay and select-service properties. Sage Hospitality's comprehensive management portfolio includes major international brands for Marriott, Starwood, Hilton and IHG as well as the independent boutique hotels the Oxford and the Curtis in Denver. Sage Hospitality has further differentiated with the creation of the Sage Restaurant Group, which has created and is managing 5 unique restaurant concepts including the award winning Mercat a la Planxa in Chicago.The company developed the innovative CoCo Key water resort brand with 10 destination properties currently open.

In celebration of its 25th Anniversary this year, Sage launched a nationwide program to assist at-risk schools with volunteer efforts and donations. For more information about Sage, please visit http://www.sagehospitality.com

Media Contact:

Susanne Voeltz

Sage Hospitality

608-284-0848

[email protected]