Indiana Residents Vote to Approve Gaming

PRNewswire-FirstCall CLEVELAND Nov. 5 :

Boykin Lodging Company , a hotel real estate investment trust (REIT),
today announced that preliminary results from a referendum held yesterday
in Orange County, Indiana indicated that the majority of voters, by nearly
a two to one margin, approved riverboat gaming activities within the
county. Voters approved the opening of a riverboat gaming facility in a
historic district which will include the property where the Company`s
French Lick Springs Resort and Spa is located. Once the results of the
vote are confirmed, the Indiana Gaming Commission is expected to solicit
proposals from gaming operators to construct and operate the gaming
facility.

Robert W. Boykin, Chairman and Chief Executive Officer, commented, “We
have supported this issue for many years and we are extremely pleased that
the people of Orange County have demonstrated their support of this
initiative. There will be many winners in Orange County as a result of the
passage of the referendum; residents can look forward to improved services
due to greater tax revenue generation, as well as many high paying jobs
which will come about as a result of the anticipated improvement in local
business and tourism. In addition, our shareholders will be well-served as
we plan on working closely with the operator who is awarded the gaming
license to develop a facility which we believe will positively influence
the demand for room nights at our property and will add to the overall
experience of visiting French Lick.”

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 29 hotels containing a total of 8,430 rooms located
in 18 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 website at http://www.boykinlodging.com/ .

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