3.08.06
Radisson Hotel Jacksonville Butler Boulevard Celebrates "One-Year Young" Anniversary
AMC Delancey and Paramount Hotel Group Celebrate Successful Hotel Transformation

Contact
Kathleen Pallas, Beckerman Public Relations
(908) 781-6420, Kathleen@beckermanpr.com

JACKSONVILLE, FL, MARCH 8, 2006- AMC Delancey Group, Inc., a Philadelphia-based national real estate investment company, and its partner, Paramount Hotel Group, recently hosted a celebratory event marking the one-year anniversary of reopening the newly renovated Radisson Hotel Jacksonville Butler Boulevard located in Jacksonville, Florida. Representatives from the two companies gathered with hotel staff, customers and local dignitaries to celebrate the Radisson Hotel’s successful transformation. The hotel was recently also honored with a prestigious 2005 Renovation Award from Radisson Hotel & Resorts for its significant contribution to the local economy.

Pictured here during The Radisson Hotel Jacksonville Butler Boulevard’s one-year anniversary celebration are (from left to right) Connie Edwards from the Internal Revenue Service and Keith Dunker, General Manager of the hotel.

“We are proud to have made such a significant contribution to the revitalization of the Jacksonville community by investing in the dramatic transformation of The Radisson Hotel,” said Kenneth P. Balin, president and CEO of AMC Delancey Group. “This exciting repositioning reflects our core strategy of partnering with experienced operating companies to help the local community meet its fiscal and quality-of-life needs. The year’s success has given us much to celebrate, especially our Renovation of the Year award and our partnership with Paramount Hotel Group.”

“We are delighted to have played a role in the growth and expansion of the Jacksonville market,” said Ethan Kramer, Paramount president. “Our successful transformation of the Radisson Jacksonville Butler Boulevard has resulted in bringing significant new jobs and investment to the local Jacksonville economy, as well as producing a new building for the entire city of Jacksonville to take pride in.”

AMC Delancey Group is active in the Northeast Florida market. In addition to the Radisson Jacksonville Hotel, AMC Delancey and Paramount Hotel Group are joint venturing in the repositioning of the Sheraton Orlando North Hotel, which is slated to reopen in the summer of 2006. AMC Delancey is currently involved with another operating partner, Hudson Capital Partners, in the development of Antigua at St. Augustine — a luxurious waterfront community situated on 157 acres on Anastasia Island with views of the Bridge of Lions and St. Augustine Lighthouse. The Antigua at St. Augustine community will be comprised of 450 luxury waterfront residences and condominiums, as well as executive office suites.

“Real estate is fundamentally a local business and requires specific market knowledge and expertise within each asset type or development strategy,” explained Kenneth P. Balin, President and CEO of AMC Delancey Group. “For this reason, we continue to actively seek investments through joint ventures with skilled operating partners up and down the east coast that excel in their market or asset type, such as Paramount Hotel Group. At present in the Jacksonville region, we are specifically targeting operating partners for retail and industrial ventures.”

The Radisson Hotel Jacksonville Butler Boulevard is a 167-room, six-story hotel, offering a first-class experience for its guests, as well as state-of-the-art conference facilities for corporate meetings and events. Located off I-95 at J. Turner Butler Boulevard in the Southpoint Business Park, the hotel is situated within a bustling commercial district south of downtown Jacksonville and is just 11 miles from ALLTEL Stadium, home of Jacksonville Jaguars. In addition, the Radisson Hotel offers convenient access to two Jacksonville medical facilities—St. Luke’s Hospital and the Mayo Clinic– and features a completely renovated lobby, restaurant and bar, meeting space, public areas and guest rooms. The Radisson Hotel in Jacksonville is owned and operated by AMC Delancey Group and Paramount Hotel Group.

Paramount Hotel Group, founded in 1999, is a premier hotel management and development company. Paramount Hotel Group specializes in value-oriented management of full and limited service hotels nationwide. As an independent operator, Paramount team has successfully managed hotels under every major brand including Marriott, Hilton, Radisson, Sheraton, Crown Plaza, Holiday Inn, Ramada and Howard Johnson. The company is headquartered in Fairfield, NJ and manages and/or has ownership interests in 30 properties with more than 4,000 rooms. For more information on Paramount Hotel Group, visit www.paramounthotelgroup.com

Founded by Kenneth P. Balin in 1992, AMC Delancey Group, Inc. is a leading real estate investment and development firm that aligns interests and co-invests with a growing number of real estate operating partners throughout the United States. Headquartered in Philadelphia, Pennsylvania, the Company's programmatic approach focuses first on the quality of potential operating partners, next on their investment strategies, and then on the specific properties proposed for acquisition. The Company's current investment programs include hotel, office, retail, multi-family, condominium, mixed use, and land development. AMC Delancey plans to expand these and future investment programs throughout the United States, with both existing and new operating partners, with investments targeted over the next several years in excess of one billion dollars. For more information on AMC Delancey Group, visit www.amcdelancey.com.