Hammons develops in Colorado Springs

Mr. John Q. Hammons is planning to develop a 10-story, 320-room
Renaissance Hotel, part of the Marriott brand, in Colorado Springs, Colo. Designed with a unique European flair that combines old world charm with
refined amenities, the luxury hotel will provide 80,000 square feet of
meeting space, including a 40,000-square-foot ballroom, with a majestic
view of Pikes Peak.  The hotel will be managed by Springfield, Mo.-based
John Q. Hammons Hotels & Resorts.

Scheduled to open in spring 2009, with construction slated to begin in
March 2007, the new property will be conveniently located 40 miles south
of Denver on Interstate 25 just east of the United States Air Force
Academy.  Situated on InterQuest Parkway and easily accessible from
Highway 83, the hotel site is part of a planned regional shopping center,
InterQuest Marketplace.  With 800,000 square feet of retail space,
InterQuest Marketplace will provide a mix of entertainment, restaurants
and national and local retailers to the vibrant, growing north side of
Colorado Springs.

“The area north of downtown Colorado Springs continues to experience
impressive growth, making it an ideal location for affluent shopping and a
premier luxury hotel,” said Mr. John Q. Hammons, founder, chairman and
chief executive officer of John Q. Hammons Hotels & Resorts, LLC.  “I am
confident that the consistently exceptional services and overall stellar
performance associated with the Renaissance and John Q. Hammons Hotels &
Resorts brands will exceed both guests’ and the city’s expectations as we
move forward as part of the InterQuest Marketplace development.”

The InterQuest project is a joint venture between Norwood Development
Group and Classic Companies, two leading local developers in the Pikes
Peak region.  The first phase of InterQuest Marketplace store openings is
planned for August 2007 and will include a new MacKenzie’s Chop House,
Concept Restaurant’s popular fine dining in downtown Colorado Springs.

“We are excited to bring together the best shopping, dining and
entertainment experiences coupled with the option of overnight guest
accommodations in a hotel built and operated under the eye of Mr. John Q.
Hammons,” said Fred Veitch, vice president of commercial development for
Nor?Wood Development Group.  “We are thrilled to work with a man of his
caliber and experience.”