Dow Acquires Radisson Hill Country Resort in San Antonio

DHC's Second Acquisition in Past Week

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. October 14, 2008

AUGUST 13, 2007. The Dow Hotel Company (DHC), a hotel owner/investor and management company, today announced the acquisition of the 227-room and -suite Radisson Hill Country Resort and Spa in San Antonio, Tex. The purchase was made in a joint venture with Prudential Insurance Company of America for an undisclosed amount from FFI Real Estate USA, LLC. It is the company's second acquisition in the past week.

Located minutes from downtown San Antonio and next to Texas' premier theme park, Sea World, the resort will undergo a thorough planning process to determine how to further enhance the property's facilities. DHC will manage the property and oversee the enhancement program.

"This is a superb facility for business and leisure travelers, and we will invest significantly to make the Radisson Hill Country Resort and Spa one of Texas' premier destinations," said Murray L. Dow II, DHC founder and president. "We are committing significant resources and a great deal of energy to totally upgrading this magnificent property located in a great setting."

"San Antonio is a vibrant city that is attractive to both business and leisure travelers," Dow noted. "By creating a world-class resort facility, we expect to contribute to the growth of San Antonio's regional economy and to create additional economic opportunities for local residents."

Located at 9800 Westover Hills Boulevard, the full-service resort and spa is in one of San Antonio's most desirable locations with its close proximity to Sea World and several newly located major corporate headquarters.

The Radisson Hill Country Resort & Spa was constructed in early 2002 and combines traditional Texas decor with modern leisure amenities while catering to the needs of the most discerning business and leisure traveler. The hotel pampers guests with three swimming pools, four food and beverage outlets, two retails shops, 100 suites and a 6,000 square-foot popular day spa. The day spa and health facility boasts four indoor and two outdoor treatment rooms and features the only outdoor spa treatment area in San Antonio.

"Meetings and social events such as weddings will be an important part of the hotel," Dow noted. "With 10,000 square feet of flexible meeting space, we can host groups of up to 300 people. Our scenic setting in Texas Hill country will appeal to both our meeting and social event planners."

"We continue to aggressively seek acquisitions," said Mark Rosinsky, Dow's senior vice president of hotel investments. "Our target candidates remain hotels and resorts with 200-400 rooms that can benefit from repositioning and strong hotel management. Typical of this target is this acquisition and the Doubletree Hotel O'Hare Rosemont we purchased last week in a separate joint venture with Prudential. We remain on target to double our revenues this year with a combination of acquisitions with a number of joint-venture partners and from strong growth at our existing properties."