6 Continents Hotels Signs Long-Term Management Contracts

17th Oct 2002

Atlanta, Georgia - Six Continents Hotels, Inc. (www.sixcontinentshotels.com), the world’s most global hotel group, is pleased to announce it has executed two new long-term management contracts.
In an agreement with joint venture partners, Hotel Venture Limited Partnership and Circa Capital Corporation, Six Continents Hotels, Inc. will manage six of Circa’s existing Holiday Inn properties, including: the Holiday Inn-Grand Montana, Billings, Montana; Holiday Inn-Cheyenne, Cheyenne, Wyoming; Holiday Inn-City Center, Fort Smith, Arkansas; Holiday Inn-Fresno Airport, Fresno, California; Holiday Inn Hotel and Towers, Lubbock, Texas; and Holiday Inn-Plaza, Lubbock, Texas. Beginning July 1, Six Continents Hotels will manage and operate each of these hotels, while the joint venture partnership of Hotel Venture LP and Circa Capital Corporation, will retain ownership of the properties.
Six Continents Hotels has also executed a long-term management contract with CNM Utah Inc. to manage its existing Holiday Inn-Salt Lake City Downtown, Salt Lake City, Utah, beginning August 1, 2002. As a part of this agreement, Six Continents Hotels will assume all management and operational responsibilities for the hotel, while CNM retains ownership of the property.

“Six Continents Hotels has a long and successful history of hotel-management expertise and high quality control standards. Through these management contracts our franchise owners and investors can capitalize on our hotel experience to increase their profitability. We currently manage approximately 80 Holiday Inn and Holiday Inn Express properties in North America. Adding these hotels to our company-managed property portfolio supports our strategy to actively manage our brands in key markets and locations,” says Tom Murray, Chief Operating Officer, The Americas.
“I am extremely impressed with the professionals at Six Continents Hotels. They bring valuable, practical solutions to the table and I look forward to building a mutually rewarding alliance between our two groups,” said Lamont Meek, Partner/SVP, Circa Capital Corporation.
“I am very impressed with the professionals at Six Continents Hotels. They have demonstrated an understanding of the local market and our hotel asset, and have the depth of resources necessary to add value. I look forward to a long and rewarding alliance between our two groups,” said Bob Mathewson, president, CNM Utah Inc.



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