Mr. John Q. Hammons Submits Purchase Contract

Mr. John Q. Hammons
today announced he has submitted a contract to purchase a site to build an
upscale, 10-story, 300-suite hotel in the southern end of downtown Fort
Worth, Texas. The property will be owned and developed by Mr. John Q.
Hammons and managed by Springfield, Mo.-based John Q. Hammons Hotels, Inc.
, the nation’s leading independent builder, developer, owner and manager
of upscale full-service hotels, resorts and suites. Prominently located in the northwest quadrant of I-30W and I-35W at the
intersections of Lancaster Avenue and Main Street, the hotel site is
positioned approximately 950 feet from the city’s downtown Convention
Center, is within walking distance of the city’s well-renowned Sundance
Square and is approximately three miles from Texas Christian University.

“Fort Worth’s thriving downtown serves as home to a unique mix of
residential, retail, office and entertainment venues, creating an
attractive and pedestrian-friendly atmosphere that is in sync with my
hotel development strategy,” said Mr. John Q. Hammons, founder, chairman
and chief executive officer of John Q. Hammons Hotels, Inc. “Adding a
high-end property to this area will match the city’s commitment to future
growth and complement its existing historical charm and vibrant street
activity.”

Anchored by dynamic commercial, retail, entertainment and living
environments, Downtown Fort Worth offers a truly spirited economic climate
for growth. The new hotel will complement the city’s Lancaster Corridor
Redevelopment Project, a plan to further redevelop the southern end of
Downtown Fort Worth. Lancaster Avenue will be redesigned as an “urban
street,” which provides a pedestrian-oriented area that capitalizes on
streetscape enhancements, arts and entertainment activities and vibrant
public plazas. Additionally, it serves as a means to connect Downtown more
effectively with the Medical District on Fort Worth’s south side.

“City revitalizations provide a prime opportunity to help communities
realize their growth and attract visitors to the renewed area. Providing a
hotel that will offer a convenient lodging and meeting option for business
and leisure travelers is a natural fit for the growing market. I look
forward to being a part of the initiatives surrounding the redevelopment
of Fort Worth’s south Downtown area,” Hammons said.
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