Prime Hospitality to Manage Philly Holiday Inn

FAIRFIELD, N.J., Feb. 13 /PRNewswire-FirstCall/—Prime Hospitality Corp. (NYSE: PDQ), has assumed management of the Holiday Inn Philadelphia Stadium as of February 6, 2003. The hotel is owned by Trent Motel Associates, an investment group led by Barry Sussman and Raj Parikh. Trent Motel Associates purchased the hotel on February 6, 2003 and announced a $2.5 million dollar renovation of the property to be completed by year-end 2003.
The 11 story Holiday Inn Philadelphia Stadium is located at 900 Packer Avenue, minutes from the Walt Whitman Bridge and the Atlantic City Expressway (Route 42). The hotel features 238 guest rooms with 22 executive suites, 12 meeting rooms totaling 14,000 square feet, a restaurant and sports bar, fitness center, and outdoor pool with pavilion area. Reservations may be made at 1-800-424-0291.
The hotel is conveniently located 3.5 miles from Philadelphia International Airport, adjacent to Veterans Stadium, home of the Phillies, and Lincoln Financial Field, new home of the Eagles, opening in 2004. The hotel is also adjacent to First Union Center home of the Flyers and 76ers. Sysco foods, Kvaerner Shipyards, Acme Markets and the University of Pennsylvania are also within minutes of the hotel.
“We are pleased to begin a relationship with Trent Motel Associates,” noted Prime`s Chairman and CEO A.F. Petrocelli. “We expect this will be a very attractive property in the heart of Philadelphia`s commercial and sports nerve center.”
Prime Hospitality Corp.(R), one of the nation`s premiere lodging companies, owns, manages, develops and franchises over 240 hotels throughout the United States. Prime Hospitality owns and operates three proprietary brands, Prime Hotels and Resorts(SM) (full-service), AmeriSuites(R) (all-suites) and Wellesley Inns & Suites(R) (limited-service). Also within Prime Hospitality`s portfolio are owned and/or managed hotels operated under franchise agreements with national hotel chains including Hilton, Radisson, Sheraton, Holiday Inn and Ramada. Prime can be accessed over the internet at http://www.primehospitality.com.
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