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BELL ATLANTIC PROPERTIES ANNOUNCES AGREEMENT WITH EMBASSY SUITES FOR CENTER CITY HOTEL

 BELL ATLANTIC PROPERTIES ANNOUNCES AGREEMENT
 WITH EMBASSY SUITES FOR CENTER CITY HOTEL
 PHILADELPHIA, Aug. 4 /PRNewswire/ -- Bell Atlantic Properties has signed an agreement with Embassy Suites, the largest upscale all-suite hotel company in the United States, to reopen the distinctive, round 28- story, 288-suite building at 18th Street and Benjamin Franklin Parkway under the banner of the Embassy Suites chain.
 At the same time, Bell Atlantic Properties executed an agreement with Hospitality Partners to operate and manage Center City's first Embassy Suites facility. The hotel is scheduled to reopen by January 1993 after a multimillion-dollar refurbishment.
 "Embassy Suites will offer Philadelphians and visitors a premier alternative for their accommodations at a conveniently located city site," said Bruce Looloian, vice president of development for Bell Atlantic Properties. "The hotel already enjoys a high profile on the Parkway and offers close proximity to the city's major cultural, historic and entertainment facilities, as well as to the Vine Street and Schuylkill expressways. With the Pennsylvania Convention Center slated to open mid-1993, we're confident that an Embassy Suites hotel will serve the convention trade as well as the business, vacation and family market segments."
 As with all Embassy Suites hotels, guest suites will include a separate living room, bedroom and bath, two televisions, two telephones, wet bar, refrigerator and microwave oven. In addition, the hotel will offer conference facilities on the top floor. The TGI Friday's restaurant, currently occupying a portion of the first floor, will remain as will an underground parking garage accessible from Cherry Street.
 Headquartered in Memphis, Tenn., Embassy Suites is a division of The Promus Companies (NYSE: PRI), whose other leading brands include Hampton Inn hotels, Homewood Suites hotels and Harrah's Casino hotels.
 Embassy Suites opened a 265-suite hotel locally in August 1990, which is now the top performing hotel in the Philadelphia Airport area.
 Bill Moeckel, Embassy Suites senior vice president of development, said, "We are extremely pleased to join forces with a leading firm like Bell Atlantic Properties to launch our second Philadelphia location. We are committed to becoming a long-term active participant in this vibrant neighborhood."
 The Embassy Suites hotel system currently numbers 103 hotels representing more than 25,000 suites in 85 cities, 30 states, the District of Columbia and Canada. Embassy Suites competes directly in the upscale hotel segment of the industry, targeting frequent business travelers and weekend/leisure guests attracted to the chain's value, flexibility and space.
 Hospitality Partners, of Bethesda, Md., was engaged by Bell Atlantic Properties in November 1991 to coordinate the temporary closing of the former Radisson Hotel. Hospitality Partners also is serving as a development consultant to Bell Atlantic Properties for the infrastructure improvements and renovations to the facility.
 Formed in 1986, Hospitality Partners is a hotel management company with a specialty in all-suite hotels. Headquartered in the Washington, D.C., area, Hospitality Partners currently manages eight hotels with more than 1,500 rooms and suites in Washington and the mid-Atlantic region.
 More than 155 construction jobs will have been provided as a result of the renovations to the structure.
 Other firms involved in the renovations are Karen Daroff, Inc., Philadelphia, providing architectural and design services, and Barclay White Inc., of Berwyn, Pa., general contractor.
 A subsidiary of Bell Atlantic Corporation (NYSE: BEL), Bell Atlantic Properties is one of metropolitan Philadelphia's leading real estate firms, with a portfolio of 57 buildings totaling in excess of 5 million square feet of office, flex and industrial space located primarily in the mid-Atlantic region. In downtown Philadelphia, the firm's holdings include four high-rise office buildings: Bell Atlantic Tower, 1760 Market Street and 1800/1880 Kennedy.
 /delval/
 -0- 8/4/92
 /Editors: Photograph available upon request./
 /CONTACT: Margaret R. McCann of McCann Public Relations, 215-564-6001, for Bell Atlantic Properties, or Clare T. Zapf of Bell Atlantic Properties, 215-587-4221/
 (BEL PRI) CO: Bell Atlantic Properties; Embassy Suites; Hospitality Partners ST: Pennsylvania IN: LEI SU:


MK-MK -- PH029 -- 6772 08/04/92 15:39 EDT
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Date:Aug 4, 1992
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