Richfield Hospitality Selected as Property Manager for Hotel Pontchartrain, Detroit

Announcing a $12 million renovation and remodeling project for property; culminating in October 2006 as the Sheraton Pontchartrain Hotel.

March 13, 2006 … Denver, Colo., … Denver-based Richfield Hospitality announces the addition of the landmark Hotel Pontchartrain in Detroit, Mich. to its hotel management portfolio. Richfield will assist the new owners of the Hotel Pontchartrain in completing more than $12 million in renovation and improvements.  Richfield anticipates that this significant upgrade program will be completed in October 2006; culminating with an affiliation as a full-service Sheraton.
Richfield Hospitality holds the distinguishing “Preferred Management Company” designation for Starwood Hotels & Resorts for its Westin, Sheraton and Four Points by Sheraton brands.

“We look forward to managing and guiding the Hotel Pontchartrain during this pivotal renovation period,” said Aik Hong Tan, Richfield president.  “Our clients have confidence in our ability as a Starwood Hotels Preferred Management Company to spearhead the successful unveiling of the Hotel Pontchartrain as a new Sheraton this fall.”

The $12 million renovation project is underway, and will encompass upgrades to nearly every aspect of the hotel, from rooms and suites to the restaurant, lobby, meeting rooms and all hallways/public spaces. The project also includes the addition of an expansive health and fitness complex to include a new indoor pool.  In addition, all mechanical, plumbing and electrical systems of the hotel will be modernized.  

Upon completion, the Hotel Pontchartrain will feature 310 guestrooms and 57 suites, many of which will offer spectacular views of the Detroit River and the Detroit city skyline. The hotel is adjacent to Detroit’s COBO Center, Michigan’s premier meeting and event facility, the financial district and the headquarters of many automotive industry companies; making it an ideal destination for business travelers. In addition, the Hotel Pontchartrain offers 13 meeting rooms, which can accommodate groups of five to 500 with a variety of meeting room options.  Atop the 25-story tower is the Top of the Pontch ballroom offering 6,500 square feet of space with spectacular views in all directions.

“The new ownership of the hotel is making a significant capital commitment to this hotel.  We are most excited to be a part of such an ambitious project, and our team is confident that the re-emergence of the fully renovated Hotel Pontchartrain as a Sheraton will reestablish its position as a leader in the downtown market.   Our location, brand affiliation and commitment to service will be our distinguishing characteristics and platform for success,” states Tom Conran, Richfield’s vice president of development.

For more information on the Hotel Pontchartrain, visit www.hotelpontch.com.

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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.