Hammons set to unveil $50mn development

27th Apr 2006

A press conference is planned for this week at Norman City Hall to
announce the forthcoming development of a 240-room hotel and a
65,000-square-foot conference center.Both projects, which are estimated
to cost a total of $50 million, are part of the University North Park
mixed-use major development project that was unveiled in December 2005.

The nine-story Embassy Suites® Hotel will be developed and managed by John
Q. Hammons Hotels & Resorts, LLC, a leader in the nation’s hospitality
industry.  The company currently operates more than 60 hotel and resort
properties across the United States, including two in Oklahoma City and
one in Tulsa.

“We are honored to be a part of such a visionary development and know that
as it comes to fruition, it will be a source of pride for not only Norman,
but for all of Oklahoma,” said Mr. John Q. Hammons, chairman and chief
executive officer of John Q. Hammons Hotels & Resorts, LLC.

The City of Norman will own the conference center for an estimated cost of
$15 million.  Once completed, the conference center will be managed by
John Q. Hammons Hotels & Resorts, LLC.  The Springfield, Mo.-based company
has already initiated the design phase for both the conference center and
hotel and intends to begin construction on both properties in March 2007.

“While the development of the entire University North Park area is
especially good news for the City of Norman, the construction of the
conference center, in particular, represents a very special and unique
opportunity for us,” said Norman Mayor Harold Haralson.  “Not only will
the City of Norman benefit by the influx of sales tax dollars to our
community, but this new development activity is sure to make our city even
more attractive to companies interested in locating or relocating their
businesses here.”


The University of Oklahoma played a major role in the decision to locate
the state-of-the-art conference center in Norman.  “With the continued
growth of the University, it is absolutely critical that we have the
ability to host national and international conferences and events, as well
as a wide range of continuing education programs, as close to the
university as possible,” said University of Oklahoma President David

Upon completion, the 585-acre University North Park development will also
consist of a major retail complex, lifestyle center, park, office
complexes, multi-family housing projects and businesses targeted for
economic development by the City of Norman.  The development is located
east of I-35 between Robinson and Tecumseh Road.

Speaking at the press conference will be University of Oklahoma President
David Boren, Mr. John Q. Hammons, and Norman Mayor Harold Haralson.


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