Cleveland, Ohio - September 11, 2002 - Boykin Lodging Company (NYSE: BOY) announced today that its Pink Shell Beach Resort, located on Fort Myers Beach, Florida, will break ground on its $24 million White Sand Villas condominium tower during a special event scheduled for September 19, 2002. White Sand Villas will feature 92 one- and two-bedroom beachfront units with Gulf views and a Caribbean dÌ©cor.
Boykin Lodging Chairman and Chief Executive Officer Robert W. Boykin will be joined by Fort Myers Beach community leaders, Lee County officials and area tourism leaders for the ground-breaking ceremony. “This is the start of a new era on Fort Myers Beach,” explained Mr. Boykin. “We are moving forward on a project that will reinforce Fort Myers Beach as a high-quality family vacation destination.”
Boykin Lodging Company is a real estate investment trust that focuses on the ownership of full-service, upscale commercial and resort hotels. The company currently owns 33 hotels containing a total of 9,219 rooms located in 19 states, and operating under such internationally known brands as Doubletree, Marriott, Hilton, Radisson, Embassy Suites, and Courtyard by Marriott among others. For more information about Boykin Lodging Company, visit the company`s web site at www.boykinlodging.com.
This release contains forward-looking statements. Although the company believes its business plans are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the company`s expectations include financial performance, real estate conditions, execution of hotel acquisition programs, changes in local or national economic conditions, and other similar variables.