Sheraton in Jacksonville, FL Adds Event Space

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. March 24, 2011

Jacksonville, FL - March 23, 2011 - The Sheraton Jacksonville Hotel announced today it will begin a complete addition to its meeting and event spaces with the goal of completion in December 2011. With a total of 10 separate meeting spaces measuring more than 6,000 square feet, the property is capable of serving various meeting and event needs.

The new space will provide stylish, comfortable and flexible meeting space for multiple small breakouts, corporate meetings or large area meetings. Whether the meeting is for four or 400, the hotel's new state-of-the-art meeting facilities will service any need.

The Buchman Ballroom will be capable of hosting 300-person weddings or 400-person conferences. With 14-foot ceilings, plush finishes and 21st century technological capabilities supported by Sheraton's excellent catering and conference staff, meeting and event planning will be a pleasure. They also plan to allow the Ballroom to break down into four breakout rooms with state-of-the-art sound-proof operable walls allowing for multiple configurations.

Designed by award-winning Milton Pate Architects, the focal point of the Buchman Ballroom will be a 21-foot arched entry way facing West in order to capture evening light. It will open to a spacious well-lit 1,900-square-foot pre-function area with 20-foot ceilings suitable for meeting registration, social breakouts or cocktail receptions.

The 828-square-foot Jaguar Rooms and the 1160-square-foot Matthews and Hart Rooms will serve as great pre-function space, as they will be arranged on two sides of the ballroom to provide ample “break-out” and support areas for a wide variety of events.

The Sheraton Jacksonville Hotel, which opened in 2008, was purchased in a joint venture with Aimbridge Hospitality and Argonaut Private Equity in November 2010. The 159-room hotel is located in the lively Deerwood Park area of southeast Jacksonville, Florida and is just minutes away from the Jacksonville beaches, the Avenues Shopping Mall, the University of North Florida and the new St. Johns Town Center Mall.

The convenience of being located in the Sheraton Jacksonville Hotel with all of its amenities provides a one-stop location for events. The hotel's restaurant, Bold City Grill, is the perfect place to have a business lunch or post-meeting rendezvous to complete the perfect meeting or conference. The restaurant's patio is capable of hosting cocktail receptions and evening functions for up to 200 people.

Aimbridge, one of the nation's leading independent hotel investment and management firms, now manages the hotel and will oversee the addition.

For more information, please call (904) 564-4772, or visit the hotel's Web site at http://www.starwoodhotels.com/sheraton/index.html.

About Aimbridge Hospitality Aimbridge Hospitality is one of the nation's leading independent hotel investment and management firms with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides management, asset management, development, renovation and consulting services. Based in Dallas, Texas, Aimbridge currently owns and/or manages over 70 upscale, independent and branded hotels with nearly 11,000 rooms across the United States and the Caribbean, including such affiliations as Marriott, Hilton, Embassy Suites, DoubleTree, Hilton Garden Inn, Hampton Inn & Suites, Aloft, Hyatt, Wyndham and the Phoenix Inn Suites chain of hotels. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.

About Argonaut Private Equity Argonaut Private Equity is a diversified global private equity fund. With more than $3.5 billion under management provided by a single entrepreneur, Argonaut exercises wide discretion on investment size, stage, sector and geography. Because of its focused ownership and management, Argonaut can make quick decisions without fund restrictions on subsequent investments or exit timing. Its equity investments span such diverse industries as consumer electronics, energy, specialty materials, telecommunications, drug discovery and delivery, medical devices, aviation, healthcare services and real estate. Argonaut's portfolio includes investments in the United States, China, Israel, India, Japan, Eastern Europe and Australia.