Richfield Hospitality Announces the Addition of the Doubletree Hotel, Charlottesville, Va.
To Its Portfolio
Multi-Million Dollar Renovation Underway

March 7, 2007 … Denver, Colo., Denver-based Richfield Hospitality has announced it will provide management operations for the Doubletree Hotel in Charlottesville, Va. The Richfield Hospitality team worked with a group of investors, including Long and Cox Properties, Inc., in the acquisition of this 235-room hotel. The Doubletree marks the second hotel acquisition deal in the first quarter of 2007 that Richfield has coordinated for Long and Cox Properties; it is also the second Long and Cox property for which Richfield has assumed management responsibilities this year. Richfield also partnered with Long and Cox on the newly renovated 63-unit boutique Hotel Highland @ Five Points South, in Birmingham, Ala.

“We are proud to have the opportunity to expand our relationship with not only Long and Cox Properties, Inc., but with Hilton Hotels and the Doubletree brand as well,” said Richfield senior vice president, John Capone. “The addition of the Doubletree Hotel in Charlottesville, is evidence of our owners’ trust and confidence in the projects Richfield uncovers and the successes that Richfield Hospitality delivers.”

“Because we already have an established, successful relationship with Richfield Hospitality; it made absolute sense to partner with them again on our investment in the Doubletree Hotel in Charlottesville,” said Jeff Long, president, Long and Cox Properties, Inc. 

The Doubletree Hotel will be undergoing a multi-million dollar renovation as part of the change of ownership. The renovation project includes upgrades and refurbishments to all guest rooms, public spaces, guest corridors, restaurant and lounge, lobby and all 16,000 square feet of meeting space.

The Doubletree Hotel Charlottesville features 235 guestrooms including seven suites, the Treetops Restaurant and Jefferson Lounge dining outlets, 20 meeting rooms totaling more than 16,000 square feet of event space, heated indoor and outdoor swimming pools with whirlpools and a fitness center.

The Doubletree Hotel Charlottesville overlooks the Rivanna River in the heart of Virginia's Blue Ridge Mountains. The hotel is minutes from the Charlottesville/Albemarle Regional Airport, the University of Virginia, Monticello, downtown Charlottesville, and the wineries, with easy access to Richmond, Roanoke, and Washington D.C.

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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.