Richfield to Manage Hyatt Place in Davis, CA for Presidio

Contract Marks Second Partnership with Presidio Companies

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. August 12, 2011

August 11, 2011 - Richfield Hospitality announced that it will partner with Presidio Companies, a Northern California based hotel development and asset management company, to operate the 75-room Hyatt Place UC Davis in Davis, CA.

“This contract marks the second hotel we manage for Presidio Companies and our first Hyatt Place property,” said Greg Mount, President of Richfield Hospitality. “This property offers the perfect confluence of the right flag at the right location and spearheads our entry into the campus hotel niche.”

“This hotel already is a gathering place for the UC Davis community, so we'll be working to strengthen that relationship and make it a showcase for the Hyatt Place lifestyle brand,” Mount continued. “It's also the only upscale select-service hotel in the area, and we will ensure that the quality of service matches the quality of the property and the Hyatt standards.”

Hyatt Place hotels are specially designed to accommodate today's lifestyle. Every guest room is equipped with a state-of-the-art media center that allows electronic devices to plug directly into the 42-inch, high-definition television, giving guests instant access to the technological amenities they're accustomed to accessing at home or in the office. Additional amenities, including complimentary Wi-Fi access, a StayFit@Hyatt fitness center, a coffee and wine bar serving Starbucks® specialty coffees and premium wine and beer, and the Grab 'n Go case stocked with freshly made sandwiches and salads, accentuate the lifestyle brand.

Hyatt Place UC Davis is located at 173 Old Davis Rd. Extension, Davis, on the southeast campus of UC Davis, adjacent to the new conference center. The hotel is across the street from the Mondavi Center for the Performing Arts and the Robert Mondavi Art Institute, and is minutes from downtown Davis with easy access to the state capitol in Sacramento and the San Francisco Bay area.

About Presidio Companies

Headquartered in Fairfield, Calif., Presidio Companies seeks and acquires under-performing, franchised properties in the United States to redevelop and transform them into successful, sustainable properties. Presidio also selectively develops new-build hospitality projects in high-barrier-to-entry markets. Presidio Companies has developed over $300 million of hospitality projects in the past eight years, always focusing on consistently high levels of achievement in every endeavor. The Presidio Companies services include development and construction supervision, brokerage, investment, and hotel asset management.

About Richfield Hospitality

Richfield Hospitality, Inc. is a leading hotel management company with a premier track record of maximizing profitability and improving asset values for hotel owners. Richfield and its affiliates offer proven solutions and expertise to approximately 500 hotels and resorts. From hotel operations and property management to electronic distribution and interactive marketing, Richfield achieves superior operating results through its strong commitment to owners, guests and associates. Based in Denver, Richfield is part of City Developments Limited, one of the world's largest real estate, hotel investment and technology conglomerates with a market capitalization exceeding US$6 billion.