Highland Hospitality Corporation Aquires the Courtyard Denver Airport

20th Sep 2004

Highland Hospitality Corporation , a lodging real estate investment trust, or REIT, announced today the acquisition of the 202-room Marriott Courtyard at Denver
International Airport, located in Denver, Colorado, for approximately
$17.3 million, plus customary closing adjustments, or approximately
$85,400 per room. The Company purchased the hotel from 6901 Tower, LLC,
which is managed by L.C. Fulenwider, Inc., and will assume an $11.6
million mortgage loan on the asset as part of the total consideration. The
Company also assumed the existing management contract under which Marriott
International, Inc. will continue to operate the hotel.The 202-room Courtyard Denver Airport is situated within the Denver
International Business Center at 69th & Tower Road, the closest hotel
location to Denver International Airport, and is located 20 miles from
downtown Denver. The property recently added approximately 2,800 square
feet of meeting space and provides such amenities as an indoor pool,
fitness room, full service bar and restaurant, high-speed Internet access
in the guestrooms and complimentary 24-hour airport transportation.

Highland Hospitality Corporation is a self-advised lodging real estate
investment trust, or REIT, focused on hotel investments primarily in the
United States. With the acquisition of the Courtyard Denver Airport, the
Company now owns 17 hotel properties with an aggregate of 4,952 rooms in
ten states. Additional information can be found on the Company’s website
at http://www.highlandhospitality.com/.


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