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IHG Announces HPT to Invest $165 Million in Renovations to 77 Staybridge Suites and Candlewood Suites Hotels

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March 8, 2012

IHG Announces HPT to Invest $165 Million in Renovations to 77 Staybridge Suites and Candlewood Suites Hotels

(ATLANTA) ? IHG (InterContinental Hotels Group) [LON: IHG, NYSE:IHG (ADRs)] announced today that 77 Staybridge Suites and Candlewood Suites hotels owned by Hospitality Properties Trust (NYSE: HPT) and managed by IHG are undergoing renovations, with HPT investing approximately $165 million in the improvements.

The first phase of renovations is complete, with 26 Candlewood Suites in markets including Atlanta, Boston, Chicago, Dallas and Phoenix boasting new kitchen and bath designs, among other changes. All renovations across both brands are expected to be complete by September 2012, with a total of 58 Candlewood Suites and 19 Staybridge Suites making the changes.

?These renovations will have a positive effect on our brand portfolios as a whole,? said Robert Radomski, vice president, Global Brand Management, Extended-Stay Brands, IHG. ?We expect that these changes will increase guest satisfaction and should result in an uplift in ADR at renovated hotels, which will in turn drive higher overall brand ADR and RevPAR. We also think we?ll see higher owner satisfaction and the potential for more development opportunities.?

All of the renovated hotels will use components of new schemes designed in conjunction with graduate students at Savannah College of Art and Design (SCAD), one of the nation?s top interior design schools. Staybridge Suites hotels will offer one of two schemes: the ?Vista? scheme, which focuses on fresh color, blending blue, green and terra-cotta shades; or a refreshed version of an existing brand scheme, ?Chocolate,? with components of the SCAD designs in the kitchens and bathrooms. The Staybridge Suites hotels will also feature the brand?s Outdoor Living Room, a place where guests can relax and interact alfresco surrounded by amenities such as comfortable outdoor all-weather furniture, fire pits, grills and music. The Gathering Table, a bar-height, granite-topped island surrounded by stools that encourages guest interaction during breakfast and evening Social receptions, will also be added to the Great Room area.

Candlewood Suites hotels will feature elements of the ?Nest? scheme, a light, clean and refreshing design with earthy green hues. The focus of renovations at Candlewood Suites properties has been kitchens, bathrooms, case goods, lighting, artwork, new flat-screen televisions, updates to the reception area and new exterior paint.

New schemes at both brands offer sustainability, flexibility and storage solutions; the latter two are especially important to extended-stay travelers, who live in hotels for weeks or months at a time.

[box type=”info”]Suites Staybridge Suites? is an innovative all-suite hotel brand designed to meet the needs of extended-stay guests. With nearly 180 hotels open, it is ideal for travelers seeking a residential-style hotel that is perfect for business, relocation and vacations. Staybridge Suites was ranked highest in guest satisfaction among extended stay hotel chains, according to the J.D. Power and Associates 2009 North America Hotel Guest Satisfaction Index StudySM. [/box]

Amenities include: three suite types (deluxe studio, one-bedroom and two-bedroom/two-bath) with fully equipped kitchens, highly functional work areas, two-line speaker phone with voicemail, direct dial access and free local calls. Staybridge Suites offers free ?Wireless Anywhere?, complimentary daily deluxe breakfast buffet and The Social evening reception three days a week. The Fitness Room, Business Center, Guest Laundry Room and The Pantry convenience store are open 24 hours a day.

Staybridge Suites entered the extended-stay market in December 1998 when its flagship location in Alpharetta, Ga., opened. Since that opening, the Staybridge Suites brand continues to grow rapidly with nearly 180 open across the Americas, Europe and the Middle East. There are almost 100 Staybridge Suites in the pipeline, including nine outside of the Americas. For more information or to book a reservation, go to www.StaybridgeSuites.comor call 1-888-238-8000.

[box type=”info”] Candlewood Suites is focused on comfort, space and value. With more than 280 properties located throughout North America, guests find spacious studio and one-bedroom suites in the U.S. and Canada, each with its own fully equipped kitchen, executive desk, DVD player, recliner and telephone with voice mail plus free local calls. The Candlewood Gym and complimentary Guest Laundry are open around the clock, and guests can take advantage of the 24-hour Candlewood Cupboard?, where they will find snacks, refreshments, entr?es and necessities available on the honor system. Additionally, guests can visit the free Lending Library, where movies and music are available for use in guestrooms, and the Gazebo Grill, with a gas grill and outdoor dining area for guest use. Candlewood Suites hotels offer guests all of this at a very comfortable price. For more information or to book a reservation, go to www.CandlewoodSuites.com or call 1-888-CANDLEWOOD. [/box]

Both Staybridge Suites and Candlewood Suites participatein Priority Club Rewards. With more than 61 million members, Priority Club? Rewards is the first, largest and fastest-growing guest loyalty program in the hotel industry. Enrollment in Priority Club Rewards is free. Guests can enroll by logging on at priorityclub.com, by calling 1-888-211-9874 or by inquiring at the front desk of any of IHG?s more than 4,400 hotels worldwide.

About HPT
Hospitality Properties Trust is a real estate investment trust, or REIT, which owns 290 hotels and 185 travel centers located in 44 states, Puerto Rico and Canada. HPT is headquartered in Newton, Massachusetts.

Media Contact:
Caroline Sanfilippo, IHG, caroline.sanfilippo@ihg.com, +1(770) 604-2495

Source: InterContinental Hotels

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