Crescent Hospitality Signs Two New Management Contracts.

FAIRFAX, Va. -- Crescent Hospitality Corporation, a rapidly growing hotel management company, today announced that it has signed two new management contracts: The Inn at Nichols Village in Clarks Summit, Pa., and the Best Western Premiere Inn in Whiteville, N.C. The addition of the two properties to Crescent's management portfolio represents a continuation of the company's strategic expansion plans announced this past June.

"We are proactively seeking out properties with untapped revenue-producing potential as part of our strategic growth plan," said Michael George, president and CEO. "The Inn at Nichols Village is a luxury hotel and conference center in northeastern Pennsylvania, a unique, exquisitely designed and landscaped, independent property that complements our already strong management portfolio of mid-market-level to upscale properties. We intend to build on its reputation as one of a handful of premier, highly rated, independent hotels. The Best Western Premiere Inn is our fourth in North Carolina, and we expect to take advantage of regional operating and marketing synergies to help this property achieve its maximum potential."

Located at 1101 Northern Blvd., in Clarks Summit, Pa., near Scranton, the 140-room Inn at Nichols Village offers luxurious contemporary accommodations, and such amenities as a fitness center, saunas, massage therapist, large indoor pool, a Presidential Quarters separate building with private whirlpool garden spa, an onsite bistro restaurant, and high-speed wireless Internet access. The newly opened Fire Grill restaurant, an upscale bistro serving three meals a day, also is the site of the Inn's legendary murder mystery dinners.

The 132-room Best Western Premiere Inn is located at 503 N JK Powell Blvd., in Whiteville, N.C., close to Wilmington and Myrtle Beach, and near the Lumber River. The property features an outdoor pool, meeting space capable of accommodating up to 80 people, on-site laundry facilities and complimentary high-speed Internet access.

Headquartered in Fairfax, Va., just outside of Washington, D.C., Crescent Hospitality was founded in 2001. The company currently operates approximately 30 upscale and mid-market hotels and resorts with approximately 4,600 rooms in 17 states. The company's management portfolio encompasses properties in the full-service, convention and premium limited-service segments under nearly 15 hotel flags, including the leading brands of Marriott, Hilton, InterContinental, Choice and Cendant, as well as independent hotels.