Richfield Hospitality Adds Sheraton Houston Brookhollow Hotel to Portfolio

Starwood Hotels and Resorts Worldwide Recognizes Richfield Hospitality as a Preferred Management Company for Westin, Sheraton and Four Points by Sheraton brands

August 15, 2005 … Denver, Colo., … Denver-based Richfield Hospitality is proud to announce the addition of the Sheraton Houston Brookhollow Hotel in Houston, Texas to its hotel management portfolio. The Sheraton Brookhollow marks the third Starwood property of which Richfield has taken over management in 2005.
Richfield Hospitality was also recently recognized as a Preferred Management Company by Starwood Hotels and Resorts for their Westin, Sheraton and Four Points by Sheraton brands.  Richfield is proud to be one of the few companies selected as a Preferred Management Company for all three prestigious brands.

“The addition of the Sheraton Brookhollow, along with the recognition by Starwood of Richfield’s successful management capabilities are significant milestones for us,” said Aik Hong Tan, Richfield president. “Having the recognition as a Preferred Management Company by such a reputable company as Starwood Hotels and Resorts is a true honor. It echoes our dedication to deliver high-caliber, result-oriented service to Richfield clients, while maintaining highly personal attention. We look forward to growing our relationship with Starwood and its brands for many years to come.”

Starwood invited hotel management companies from across the country to submit an application to become a Preferred Management Company. Applicants are selected based on specific evaluation criteria, including: the company’s experience and performance in managing hotels comparable to the requested brand; the company’s growth goals and evaluation of past experience/future performance ability to achieve stated goals.

“We are very proud of the level of confidence that Starwood Hotels & Resorts has placed in our service levels and capabilities,” said Tan. “In turn, we are confident that Richfield’s commitment to client success and satisfaction will continue to build and enhance this mutually beneficial relationship with Starwood.”

The 386-room Sheraton Houston Brookhollow Hotel is located just five minutes from the Houston Galleria, a renowned shopping destination, and is very convenient to the George Bush Intercontinental Airport. Offering more than 14,000 square feet of meeting space equipped with Wayport Internet Access, the Sheraton Houston Brookhollow can accommodate meetings or events of up to 1,000 people. The hotel also features the Cimarron restaurant and Big Bend Bar in addition to the Lobby Lounge.

The Sheraton Houston Brookhollow is currently in the midst of a $5 million renovation encompassing all public spaces and soft goods throughout the property. The renovation is scheduled for completion during the first quarter of 2006.

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Richfield Hospitality, Inc. provides a full complement of successful management services to a broad range of limited-service, full-service and resort hotels. The company achieves superior operating results through intense focus of its strong commitment to guests, employees and owners. Through Source, Richfield’s procurement unit, hotels can achieve significant savings on purchases of operating supplies and FF&E. Hotels can have access to insurance and on-line risk management services through Richfield’s Risk Management Division. In addition, Richfield’s sister company, Sceptre, provides global reservations distribution services, channel management and e-distribution advisory services. For more information on the recent growth of Richfield, and a look at its impressive portfolio of hotels, please visit www.Richfield.com.

Richfield is headquartered in Denver with approximately 1,000 employees. The company is part of the City Development Limited (“CDL”) group. CDL, listed on the Stock Exchange of Singapore, is the largest non-government real estate company in Southeast Asia with a market capitalization exceeding $2 billion.