�In partnership with the City of Portsmouth and Stormont Trice Development Corporation, the $48 million Renaissance Portsmouth Hotel, exemplifies Crestline�s ability to work with a variety of investors, owners and government entities to grow our management portfolio,� stated Bruce D. Wardinski, Crestline Capital Chairman of the Board, President and Chief Executive Officer.  Mr. Wardinski continued, �As part of our strategy to grow the hotel management business, we invested our capital as majority

The Renaissance Portsmouth Hotel 425 Water Street Portsmouth, VA 23704

The hotel and conference center was developed by Stormont Trice Development Corporation of Atlanta, Georgia.  The property is a public/private partnership between the City of Portsmouth and a private ownership group consisting of Crestline Capital and the principals of Stormont Trice Development Corporation. 

�The Renaissance Portsmouth Hotel is well positioned to capitalize on the growing Tidewater hotel and conference market,� commented Donald R. Trice, Crestline Hotels & Resorts� President and Chief Executive Officer.  �The waterfront property has a magnificent view of the Norfolk skyline.  A commuter ferry stop is located in front of the property, providing an easy and unique way for guests to travel between the property and downtown Norfolk.  Crestline also manages the Norfolk Waterside Marriott.  We anticipate substantial operational synergies for both properties.�

The 250-room Renaissance Portsmouth Hotel and the 24,000 square foot Waterfront Conference Center is located directly on the water at 425 Water Street in Portsmouth, Virginia.  The property offers a restaurant with waterfront dining; an indoor pool; and an Executive Learning Center and case study amphitheater built to International Association of Conference Centers standards.  

Crestline Capital Corporation, parent company of Crestline Hotels & Resorts, is the nation�s largest independent hotel leasing company, majority owner of an upscale extended-stay hotel portfolio, and owner of one of the nation�s premier senior living community portfolios.  

Crestline Hotels & Resorts manages and leases 34 hotels, resorts and conference and convention centers with over 6,500 rooms in eleven states and the District of Columbia.  Crestline Hotels & Resorts manages properties independently and under such well regarded brands as Marriott, Hyatt, Hilton, Sheraton, Renaissance and Crowne Plaza.

Certain matters discussed herein are forward-looking statements within the meaning of the Private Litigation Reform Act of 1995.