Hammons Breaks Ground for Fairview TX Embassy Suites

Project Part of Village at Fairview, a 400-acre, Mixed-use, Lifestyle Center

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. October 14, 2008

DALLAS, TX / SPRINGFIELD, MO, March 21, 2007. Mr. John Q. Hammons today held the groundbreaking of the 280-suite, 10-story Embassy Suites(R) Hotel Fairview and adjoining 80,000-gross-square-foot convention center. Representing Mr. Hammons' eighth Texas development, the hotel and convention center will complement The Village at Fairview, an upcoming 400-acre, mixed-use, lifestyle center. The hotel will be owned by Mr. Hammons and the convention center will be owned by the town of Fairview. Both will be managed by Springfield, Mo.-based John Q. Hammons Hotels & Resorts, the nation's leading independent builder, developer, owner and manager of upscale, full-service hotels, resorts and suites (www.jqhhotels.com).

"The exceptional schools, affluent clientele and strong business growth indicates that the time is right to build an upscale hotel and convention center," said Mr. Hammons, founder, chairman and chief executive officer of John Q. Hammons Hotels & Resorts. "Fairview, McKinney and Allen are critical players in the North Texas economy. As the highways, retail developments and neighborhoods near completion, tourists, business travelers and meetings and convention goers will become even more attracted to the area. The convention center will secure success of the hotel and provide greater support of the area's tourism."

Construction of the hotel and convention center is expected to begin in August 2007, with an anticipated opening slated for January 2009. The Village at Fairview, under development by The MGHerring Group, is expected to open fall 2008 and will feature approximately 1 million square feet of retail, entertainment and dining. Anchored by Dillard's, JCPenney and Macy's, the open-air lifestyle center will also include a theater, residential units, office space and The Container Store and Barnes & Noble as major tenants. Infused with a historic feel, The Village at Fairview's design and architecture will reflect a dynamic downtown street, complete with spacious promenades, landscaped plazas and unique water features.

"Stacy Road and U.S. 75 is becoming the center of real estate activity in Collin County," said Kenton McKeehan, senior vice president leasing, The MGHerring Group. "With so many options available, we're proud that The Village at Fairview has been selected as the home for the Embassy Suites Hotel Fairview and Convention Center."

Conveniently located in Collin County - one of the fastest growing and most affluent areas in Texas - and situated at the northeast corner of U.S. 75 and Stacy Road, the hotel and convention center will be easily accessible to the cities of Allen and McKinney. Local entertainment and attractions, such as the Allen Premium Outlet Mall, and major employers such as Raytheon, Blockbuster, the McKinney Medical Center and Allen Technology District are within an eight-mile radius of the facilities. Collin County Community College District, with a student population of 41,000, also has two campuses nearby - Central Campus (seven miles) and an Allen location (three miles).

"It's been a privilege to work with a developer of Mr. Hammons' caliber," said the Honorable Sim Israeloff, mayor of Fairview. "His track record for establishing high-performing, quality hotels and meeting facilities is unmatched. We anticipate that the Embassy Suites Hotel Fairview and convention center will complement the upscale retail and office elements of the project and provide exceptional amenities and services for our town's residents and visitors."

Upon completion of the Fairview hotel and convention center, John Q. Hammons Hotels & Resorts will operate over 1,400 rooms and nearly 300,000 gross square feet of meeting space in the Dallas/Fort Worth area. Other John Q. Hammons Hotels & Resorts properties include: The Embassy Suites Hotel Dallas-Frisco, The Embassy Suites Hotel Outdoor World in Grapevine; The Renaissance Dallas-Richardson Hotel; and the Hampton Inn & Suites Mesquite at Rodeo Center.