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05.10.06
LARGO, MD, MAY 10, 2006—AMC Delancey Group, Inc., a Philadelphia-based national real estate investment company, and its joint venture partner, Fairfield, N.J.-based Paramount Hotel Group, announced that the Radisson Hotel Largo—Washington, D.C. has been honored by Radisson Hotels & Resorts as a 2005 Renovation of the Year Award winner for the exceptional quality of its restoration and repositioning this past year. The hotel is one of only eight to be honored for its extraordinary renovation project in the $1-5 million investment category. The award was presented by Nancy Johnson, executive vice president and brand leader for Radisson Hotels & Resorts, at the recent Carlson Hotels Worldwide Annual Business Conference in Las Vegas. "The Renovation Awards were presented to those of our hotels in The Americas region who have completed outstanding renovation projects that have been upgraded to meet the needs of today’s travelers and help foster loyalty for their hotel and the Radisson brand," Johnson said. "These hotels help showcase Radisson’s high standards for product quality and offer facilities and services that are expected at a full-service hotel. They also work hard to consistently provide exceptional ‘Yes I Can!’ guest service, which together with product quality generates a positive reputation for our brand.” Kenneth P. Balin, President and CEO of AMC Delancey Group, commented, “We are honored to have received this prestigious award, which demonstrates the tremendous success of our transformation of the Radisson Hotel Largo—Washington, DC. Working closely with our partners at Paramount Hotel Group, we have been able to produce a successful partnership and transform this hotel into one of the superior hotels in the Maryland/National Capital region.” Peter Marino, senior vice president of Paramount Hotel Group, said, “This award solidifies our extensive efforts to renovate the hotel in a truly unique way. Having won this award in 2004 for our Radisson in Jacksonville, Fla., we are certain that our guests will be pleased and the local community can be proud of what our tremendous teams have accomplished.” Formerly known as the Doubletree Club Hotel, the 184-room, six-story Radisson Hotel Largo—Washington, DC, was acquired by AMC Delancey Group, Inc., a Philadelphia-based national real estate investment company, and its joint venture partner Paramount Hotel Group, LLC, in 2005. The two companies have since completely overhauled the hotel and re-branded it as a Radisson, and have experienced much success since its re-opening in December. Located off the I-95/495 Beltway in the Inglewood Business Center, the hotel is situated within a major suburban office market, east of Washington, D.C., near numerous corporate and government demand generators. In addition, the hotel is within close proximity to FedEx Field, home of the Washington Redskins and the new “Boulevard at the Capital Centre” retail center. The Blue Line of the D.C. area Metro has now been extended to Largo Town Center, nearby the property. For more information, contact Deniece Coke, director of sales and marketing of the newly renovated Radisson Hotel Largo—Washington, D.C., at (301) 773-0700, or visit their Web site: www.radisson.com/largomd . Radisson Hotels & Resorts currently has more than 415 locations in 63 countries. Radisson is a division of Carlson Hotels Worldwide, a global leader in the hotel industry encompasses over 920 hotels. Reservations at all Radisson hotels can be made by visiting www.radisson.com , calling (800) 333-3333 in the United States or Canada, or through a travel consultant. About Paramount Hotel Group Founded in 1999, Paramount Hotel Group is a premier hotel management and development company that specializes in value-oriented management of full- and limited-service hotels nationwide. As an independent operator, the 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 28 properties with more than 3,000 rooms. For more information visit www.paramounthotelgroup.com . About AMC Delancey Group, Inc. 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. # # #
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