CoServ Realty Appoints Quorum Hotel Advisors as Asset Manager for The Westin Beechwood - Fort Worth and The Creeks at Beechwood Golf Course.

Business Editors

CORINTH, Texas--(BUSINESS WIRE)--Dec. 18, 2001

Services to Continue Uninterrupted Under CoServ's New Ownership

CoServ Realty Holdings, L.P., has appointed Quorum Hotel Advisors, LLC (QHA) as its asset manager for The Westin Beechwood - Fort Worth Hotel and The Creeks at Beechwood golf course.

"Our primary objective is to bring stability to these properties. We also want to ensure that these first-class facilities will continue to serve their clientele with the same high standards and will be allowed to develop to their full potential," said Bill McGinnis, CoServ President and CEO. "We have every confidence in Starwood Hotels and Resorts Worldwide, which manages the hotel, and Troon Golf, which operates the golf course. Quorum will assist in developing a long-term asset plan for the facilities and will represent ownership in communications with the current management organizations."

Commenting on the appointment of QHA, Tony Farris, Chairman and CEO of Quorum said, "We look forward to working with CoServ and the hospitality professionals associated with the Beechwood facilities, and collectively working toward fulfilling the needs of guests, employees and ownership. As a Texas-based company, we are especially proud to be associated with this terrific Fort Worth development."

CoServ stated that it plans for services to continue without interruption after acquiring ownership of the properties last week through foreclosure proceedings.

The Westin Beechwood - Fort Worth is a 286-room hotel located in north Fort Worth between the Texas Motor Speedway and Alliance Airport. The adjoining golf course, The Creeks at Beechwood, is a championship course designed by Greg Norman. The hotel and the golf course are the cornerstones of the planned 902-acre Beechwood Business Park.