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Jun 16, 04, 10:54 am
http://biz.yahoo.com/bw/040616/165138_1.html
Press Release Source: Hilton Hotels Corporation
Hilton Indianapolis Races into Town Later This Summer
Wednesday June 16, 7:30 am ET
Aggressive $6.5 Million Renovation Now Underway
INDIANAPOLIS--(BUSINESS WIRE)--June 16, 2004--Hilton Hotels & Resorts (NYSE:HLT - News) today announced that the Adam's Mark Hotel at Market and Illinois streets will become the Hilton Indianapolis by mid-August. A $6.5 million refurbishment project is currently underway and expected to be completed by the end of this year.
The re-branding and renovation of the hotel follow the January 2004 purchase of the facility by MSPA Acquisition II, L.P., a joint venture between Pyramid Advisors LLC and the Morgan Stanley Real Estate Fund. The hotel will be operated by Pyramid Hotel Group, a division of Pyramid Advisors LLC, under a franchise license agreement with Hilton Hotels Corporation.
In May 2004, hospitality veteran and recipient of the Indiana Hotel and Lodging Association 2003 General Manager of the Year award William (Bill) Stanton assumed the position of vice president/managing director.
"The world of hospitality is all about making people comfortable and providing personalized amenities. While we will offer the technology and business resources that are part of mainstay business travel, the new Hilton Indianapolis aims to provide a venue that is first and foremost comfortable, pleasing and aesthetic," Stanton stated. "The hotel's location is in the heart of downtown and proximity to major corporations, the statehouse and convention facilities, which makes the Hilton Indianapolis ideal for serving Indianapolis's growing visitor base."
The aggressive, top-to-bottom enhancement project at the hotel is underway to dramatically improve every aspect of the hotel. The hotel also plans to introduce an internationally recognized restaurant in the next six to 18 months. Dining and interior renovations aren't the only things that will differentiate the Hilton Indianapolis from the city's other leading hotels. The 332-room hotel will boast 215 suites, including 30 state suites.
"Indianapolis's unique mix of business, cultural attractions and sports is increasingly making it a destination town for both corporate and leisure travel. We are pleased to expand our presence in this dynamic and growing part of the nation's heartland," said Jeff Diskin, senior vice president - brand management for Hilton Hotels & Resorts. "Just as important, Bill Stanton's leadership on the 500 Festival, Mayor's Hospitality Commission and other community organizations, coupled with more than 30 years of experience in the hospitality industry, proves that our new Hilton Indianapolis not only will have an experienced general manager, but a dedicated high-visibility community leader."
About Morgan Stanley Real Estate Fund
MSREF is a private real estate investment fund affiliated with and sponsored by Morgan Stanley. Since its inception in 1991, MSREF has acquired over $25 billion in real estate in four domestic and two international funds.
About Pyramid Hotel Group
Pyramid Hotel Group, a subsidiary of Pyramid Advisors LLC, is a U.S. hotel management and development company based in Boston. The company is manager/owner of 15 hotel properties in the U.S. and has acquired and developed approximately $500 million worth of hotels in the past three years. Pyramid provides property management, asset management and project management services to over 40 facilities, comprising a company portfolio of approximately $1 billion in asset value.
About Hilton Hotels & Resorts
Hilton Hotels & Resorts is the flagship brand of the Hilton Family of Hotels. During the brand's legacy, this upscale, full-service collection of hotels and resorts has grown to include some of the world's most renowned places to stay. Team members at Hilton Hotels & Resorts pride themselves on a passion for delivering a satisfying experience to the most discriminating of travelers and reflect commitment and support to the local culture and community in which they reside. For more information, please visit our website at www.hilton.com.
Contact:
Hilton Brand Communications
Jeanne Datz/Thomas Wingham, 310-205-4545
jeanne_datz@hilton.com
thomas_wingham@hilton.com
http://www.hiltonworldwide.com
or
Hickman + Associates
Susan Miller, 317-816-9760
smiller@hickmanassociates.com
Source: Hilton Hotels Corporation
Press Release Source: Hilton Hotels Corporation
Hilton Indianapolis Races into Town Later This Summer
Wednesday June 16, 7:30 am ET
Aggressive $6.5 Million Renovation Now Underway
INDIANAPOLIS--(BUSINESS WIRE)--June 16, 2004--Hilton Hotels & Resorts (NYSE:HLT - News) today announced that the Adam's Mark Hotel at Market and Illinois streets will become the Hilton Indianapolis by mid-August. A $6.5 million refurbishment project is currently underway and expected to be completed by the end of this year.
The re-branding and renovation of the hotel follow the January 2004 purchase of the facility by MSPA Acquisition II, L.P., a joint venture between Pyramid Advisors LLC and the Morgan Stanley Real Estate Fund. The hotel will be operated by Pyramid Hotel Group, a division of Pyramid Advisors LLC, under a franchise license agreement with Hilton Hotels Corporation.
In May 2004, hospitality veteran and recipient of the Indiana Hotel and Lodging Association 2003 General Manager of the Year award William (Bill) Stanton assumed the position of vice president/managing director.
"The world of hospitality is all about making people comfortable and providing personalized amenities. While we will offer the technology and business resources that are part of mainstay business travel, the new Hilton Indianapolis aims to provide a venue that is first and foremost comfortable, pleasing and aesthetic," Stanton stated. "The hotel's location is in the heart of downtown and proximity to major corporations, the statehouse and convention facilities, which makes the Hilton Indianapolis ideal for serving Indianapolis's growing visitor base."
The aggressive, top-to-bottom enhancement project at the hotel is underway to dramatically improve every aspect of the hotel. The hotel also plans to introduce an internationally recognized restaurant in the next six to 18 months. Dining and interior renovations aren't the only things that will differentiate the Hilton Indianapolis from the city's other leading hotels. The 332-room hotel will boast 215 suites, including 30 state suites.
"Indianapolis's unique mix of business, cultural attractions and sports is increasingly making it a destination town for both corporate and leisure travel. We are pleased to expand our presence in this dynamic and growing part of the nation's heartland," said Jeff Diskin, senior vice president - brand management for Hilton Hotels & Resorts. "Just as important, Bill Stanton's leadership on the 500 Festival, Mayor's Hospitality Commission and other community organizations, coupled with more than 30 years of experience in the hospitality industry, proves that our new Hilton Indianapolis not only will have an experienced general manager, but a dedicated high-visibility community leader."
About Morgan Stanley Real Estate Fund
MSREF is a private real estate investment fund affiliated with and sponsored by Morgan Stanley. Since its inception in 1991, MSREF has acquired over $25 billion in real estate in four domestic and two international funds.
About Pyramid Hotel Group
Pyramid Hotel Group, a subsidiary of Pyramid Advisors LLC, is a U.S. hotel management and development company based in Boston. The company is manager/owner of 15 hotel properties in the U.S. and has acquired and developed approximately $500 million worth of hotels in the past three years. Pyramid provides property management, asset management and project management services to over 40 facilities, comprising a company portfolio of approximately $1 billion in asset value.
About Hilton Hotels & Resorts
Hilton Hotels & Resorts is the flagship brand of the Hilton Family of Hotels. During the brand's legacy, this upscale, full-service collection of hotels and resorts has grown to include some of the world's most renowned places to stay. Team members at Hilton Hotels & Resorts pride themselves on a passion for delivering a satisfying experience to the most discriminating of travelers and reflect commitment and support to the local culture and community in which they reside. For more information, please visit our website at www.hilton.com.
Contact:
Hilton Brand Communications
Jeanne Datz/Thomas Wingham, 310-205-4545
jeanne_datz@hilton.com
thomas_wingham@hilton.com
http://www.hiltonworldwide.com
or
Hickman + Associates
Susan Miller, 317-816-9760
smiller@hickmanassociates.com
Source: Hilton Hotels Corporation