CMS Companies Awards Hotel Management Contracts to GF Management

Two Hilton-affiliated Properties Augment GF's Expanding Third-Party Management Platform

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. August 19, 2010

PHILADELPHIA, PA - August 18, 2010 - CMS Companies, a private equity investment firm based in Wynnewood, Pa., along with GF Management, a premier hospitality management and investment company, jointly announce that CMS has awarded management of two full-service hotels to GF Management. Affiliates of GF have assumed day-to-day oversight of the operations of the Embassy Suites Pittsburgh - International Airport and Doubletree Atlanta/Roswell effective July 12, 2010. The hotels are owned by a CMS-affiliated investment fund.

These assignments represent additions to Philadelphia-based GF Management's rapidly growing portfolio of long-term, third-party management contracts and the first such engagement with CMS. Jeffrey Kolessar, Senior Vice President of Development for GF, stated, “We're honored to have been selected by CMS to manage these first-class hotels. GF has the staffing, systems and experience to take these properties to the next level of success following significant renovations that were completed this past fall.”

Joseph Martell, Vice President of Real Estate for CMS, added, “We had several options when we made the decision to change management at these hotels. Ultimately, we selected GF based on its excellent reputation, relationship with the Hilton family of brands and ability to drive revenue in these key markets.”

The Doubletree Atlanta/Roswell is located on Holcomb Bridge Road in the heart of historic Roswell, GA, and recently completed a $3 million renovation. The hotel offers 172 spacious guestrooms featuring ergonomic work centers, free high-speed Internet access and 37-inch flat-panel televisions, complimentary parking and shuttle service, and the largest amount of flexible meeting space (12,000 square feet) in the area.

The Embassy Suites Pittsburgh - International Airport, located on Cherrington Parkway in Coraopolis, PA, recently underwent a $7 million renovation. The hotel features 223 suites each with separate bedroom and living space, complete with a microwave oven, refrigerator and wet bar. Other features include an indoor trout stream and 13,500 square feet of meeting space, as well as brand-standard complimentary full breakfast and manager's reception. Both hotels are AAA three-diamond rated and reflect extensive renovations which were performed during the last 18 months under the supervision of CMS and prior management.

About GF Management, LLC
GF Management is an award-winning full service hospitality management and investment company founded in 1988 and based in Center City Philadelphia. With more than 100 hospitality assets under management, including hotels, resorts, conference centers, catering facilities, condominiums and golf courses representing more than 20 brands in 26 states, GF Management specializes in long-term management contracts as well as receivership assignments for a variety of private, institutional and banking clients. GF's property portfolio also includes 14 hospitality assets which are owned by its principals. The company is actively seeking to expand its portfolio of management assignments through long-term contracts and joint-venture investment opportunities. For more information please visit www.gfhotels.com or contact Jeff Kolessar at (215) 972-2222.

About CMS Companies
CMS Companies is a multifaceted financial services company dedicated for over 40 years to helping entrepreneurs grow, manage and preserve their personal wealth. The firm offers clients access to proprietary real estate and private equity investment products, sophisticated insurance instruments and professional advisory services. CMS Companies has invested more than $3.5 billion in real estate and private equity on behalf of its clients across several asset classes including multifamily, hospitality, medical office, retail and triple-net lease office.