Mr. John Q. Hammons today announced he will develop a new $35 million, 245-suite Embassy Suites Hotel(R) in downtown Oklahoma City. Located in Bricktown, one of the fastest growing entertainment districts in the Southwest, the new property will be owned by Mr. John Q. Hammons. The 10-story property will be managed by Springfield, Mo.-based John Q. Hammons Hotels, Inc. (AMEX:JQH), the nation`s leading independent builder, developer, owner and manager of upscale full-service hotels, resorts and suites. Construction is scheduled to begin in the summer of 2004.
Representing the fourth Oklahoma hotel property in Mr. Hammons` portfolio, the Embassy Suites Hotel - Oklahoma City will highlight his commitment to developing in areas of dynamic growth. Upon celebrating its expected grand opening in January 2006, the new Embassy Suites Hotel - Oklahoma City will increase Mr. Hammons` total investment in Oklahoma`s convention and tourism industry to $150 million, including 1,100 hotel rooms, and ownership or management of 220,000 square feet of meeting space. Mr. Hammons` announcement of his plans to build the Embassy Suites Hotel - Oklahoma City coincides with the groundbreaking of the entertainment district`s new $13 million Harkins Bricktown 16 Theatres. Slated for completion in the summer of 2004, the 16-movie theater complex will add another attraction to Bricktown`s entertainment product.
Mr. Hammons` Oklahoma Hotels:
—Renaissance Oklahoma City Hotel; opened January 2000
—Renaissance Tulsa Hotel and Convention Center; opened February 2003
—Courtyard(R) by Marriott(R) Oklahoma City Downtown/Bricktown Hotel; scheduled to open January 2004
—Embassy Suites Hotel(R) - Oklahoma City; scheduled to open January 2006
The Embassy Suites Hotel - Oklahoma City will be ideally situated 500 feet from a new 104,775-square-foot Bass Pro Shops Outdoor World, adjacent to Sonic Corporation`s new Bricktown corporate headquarters, and across the street from the 12,000-seat SBC Bricktown Ballpark, home of the Oklahoma RedHawks Triple A baseball club. The hotel also backs up to the Bricktown Canal, where guests can catch a water taxi and enjoy the riverfront.
“When Oklahoma City passed the Metropolitan Area Projects plan in the early 1990s, it made a great commitment to strengthening its offering to the convention and tourism industry,” said Mr. John Q. Hammons, founder, chairman and chief executive officer of John Q. Hammons Hotels, Inc. “I recognized the commitment made by the people of Oklahoma City and am excited to be a part of their vision for the city`s future.”
About Bricktown District
- Bricktown is located on the eastern border of downtown Oklahoma City and is accessible from I-40, I-35 and I-235. An old warehouse district, Bricktown has been converted into the city`s hot spot for entertainment. It offers turn-of-the-century charm and a wide array of restaurants, clubs, boutiques and galleries. Bricktown is conveniently located adjacent to the recently renovated Cox Business Services Convention Center, which features a 15,000-seat arena, several meeting rooms, a 25,000 square-foot ballroom, and 100,000 square-foot exhibit hall. The convention center is only steps away from the 20,000-seat Ford Center, Oklahoma City`s state-of-the-art sports and entertainment facility, which recently opened and is the home to the Central Hockey League`s Oklahoma City Blazers. Also located in Bricktown are the Oklahoma City National Memorial and the Oklahoma City Museum of Art.
- The Embassy Suites Hotel - Oklahoma City will feature a variety of amenities for both business and leisure travelers, including 12,000 square feet of flexible meeting space. The property will have a private bedroom in every suite, a living room with a sofa sleeper, wet bar, refrigerator, microwave and coffeemaker. In addition, each of the hotel`s 245 suites will be equipped with two color televisions, high-speed Internet access, customizable voicemail, Nintendo 64 and WebTV. Travelers also will be able to enjoy the sports bar restaurant and lounge, as well as full cooked-to-order breakfast during their stay. Guests will be treated to a complimentary USA Today every weekday morning, laundry/valet service, sundeck, cardio fitness center, 24-hour gift shop, complimentary business center and an oversized indoor pool and whirlpool.
- Privately owned by Mr. John Q. Hammons, the Embassy Suites Hotel - Oklahoma City will be managed under contract by John Q. Hammons Hotels, Inc. Publicly traded on the American Stock Exchange (AMEX: JQH), Springfield, Mo.-based John Q. Hammons Hotels, Inc. is the nation`s leading independent builder, developer, owner and manager of upscale, full-service hotels, resorts and suites, including: Embassy Suites Hotel, Renaissance, Marriott, Radisson, Residence Inn, Homewood Suites by Hilton, Holiday Inn and Hampton Inn & Suites brands. With 58 hotels strategically located near demand generators, such as state capitals, universities, airports, corporate headquarters or office parks in secondary and tertiary markets, John Q. Hammons Hotels` properties are dominant in their markets. The company`s focus is capitalizing on positive operating fundamentals in the upscale, full-service sector, converting existing hotels to franchise brands and selling mature assets, while reinvesting the proceeds and reducing debt. Over the course of his impressive career in the hotel business, Mr. Hammons has developed 148 hotels.