Hammons and Oppenheimer Planning a Marriott in Boise

Adjacent to a New Exhibition Facility

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. October 14, 2008

BOISE, ID / SPRINGFIELD, MO, April 24, 2007. Mr. John Q. Hammons today announced his hotel development plans in the state of Idaho with the construction of a 10-story, 250-room Marriott(R) hotel in Boise's downtown core. The luxury hotel will connect to the city's planned new exhibition facility and also be walking distance from the existing Boise Centre on the Grove convention facility. The planned expansion of the Boise Centre on the Grove will add 150,000 square feet of combined exhibit/banquet space capable of serving up to 3,500 people. The new hall will be located in the block formed by Front, Myrtle, Eleventh and 13th streets.

Mr. Hammons will own the hotel along with partners, Boise-based Oppenheimer Development Corporation. Development of the hotel will be overseen 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. The hotel will be managed by John Q. Hammons Hotels & Resorts, and the exhibition facility will be leased and managed by the Greater Boise Auditorium District.

Construction of the Marriott hotel and exhibition facility is expected to begin in March 2008 with an anticipated opening of both facilities in late summer 2009. Situated between 11th and 13th streets, the hotel and exhibition facility will be on a five-acre site that is easily accessible from both eastbound and westbound connectors of I-84. Conveniently near Boise State University (nearly 19,000 students), Arts District attractions, and the State Capitol, along with the Boise Airport (10 minutes' drive), the hotel and exhibition facility's location is ideal for leisure, business and group guests. Other demand generators are nearby with several companies maintaining headquarters or large campuses in Boise, including Boise Cascade LLC, Hewlett Packard, Micron Technology, and Super Value (Albertsons).

"I have identified a winning formula that consistently performs in secondary and tertiary markets. Boise represents a prime opportunity with its state capital, well-skilled workforce, solid government, Boise State University, numerous corporate headquarters, and influx of group business," said Mr. Hammons, founder, chairman and chief executive officer of John Q. Hammons Hotels & Resorts. "We will provide a high-quality hotel and an exceptional guest experience to continue to drive business to this burgeoning area."

According to Mr. Stephenson Youngerman, Ph.D., chairman of the Greater Boise Auditorium District, Boise is experiencing significant demand for both in- and out-of-market meeting space, and the area's hotels typically realize above-average occupancy levels.

"The existing Boise Centre on the Grove is considered one of the nation's best examples of convention center successes in economic performance and user satisfaction. To maximize the potential of our group business, the area requires an expanded exhibition facility and upscale hotel," Mr. Youngerman said. "Mr. Hammons and John Q. Hammons Hotels & Resorts have the reputation for not only developing beautiful, quality facilities, but for award-winning performance in guest satisfaction. The partnership is a strategic means for strengthening the economic development of the downtown core and the overall area."

"Boise is blessed with an attractive and dynamic downtown area, and we're determined to keep up that positive momentum. We have long recognized the need for enhanced convention and exhibit space in our urban center, and we're thrilled that companies of the caliber of Marriott and John Q. Hammons Hotels & Resorts recognize the qualities that make Boise one of the most livable cities in the country," said the Honorable Dave Bieter, mayor of the city of Boise.

Hammons' Expansion West

Mr. Hammons' announcement in Boise follows news of his first development in Utah with the construction of 520 hotel rooms and more than 100,000 combined gross square feet of flexible meeting space in burgeoning Pleasant Grove, Utah, about a half-hour's drive from Salt Lake City International Airport. Mr. Hammons is building a 10-story, 300-suite Embassy Suites(R) Hotel along with an adjoining convention center. Next to these facilities, he is also building a 10-story, 220-room Courtyard(R) by Marriott(R). All three facilities will be owned by Mr. Hammons and will be managed by John Q. Hammons Hotels & Resorts. The site is adjacent to a planned 1 million-square-foot lifestyle center with proposed upscale shopping, entertainment and restaurants.