�This is a wonderful addition to our management portfolio�, says Bill DeForrest, President and CEO of Lane Hospitality.  �This offers our company the first opportunity to work with the outstanding Marriott family of brands which has been a strategic objective for our company.  The quality of the asset with an outstanding brand and ownership group in a dynamic growing market continues to allow us to establish our company as a leader in the hotel management business and build on the already successful hotel portfolio we have assembled�, says DeForrest.  

The hotel is owned by a subsidiary of LNR Property Corporation.  Lane Hospitality and LNR Properties are partners in four other hotel ventures including Hilton Hotels in Lake Placid, New York and College Station, Texas and a Crowne Plaza in Clark, New Jersey.  �We are very excited about this new opportunity with our partners, LNR Property Corporation to further our relationship and manage another of their top quality hotels�, DeForrest said.

The upscale full-service hotel features a twelve-story guestroom tower with concierge service on the top two floors featuring upgraded room amenities.  The conference facilities include 8,872 square feet of high quality meeting and banquet facilities located on the first floor and six individual conference rooms located on the second floor.  Entertainment and recreational facilities include Darrel and Oliver�s Bistro 17 restaurant, critically acclaimed throughout South Florida, featuring steak and seafood, serving three meals daily, the 17th Street Bar off the main lobby, an outside heated swimming pool and whirlpool spa and fitness center.

This is the fifth acquisition in 2002 for Lane Hospitality, a leading national hotel management company featuring brands such as, Renaissance Hotels, Hilton Hotels, Crowne Plaza, Radisson Hotels, Holiday Inn, Holiday Inn Sunspree Resorts, Holiday Inn Select, Holiday Inn Express, AmeriSuites, Hampton Inn and Suites, Comfort Inn, Country Inn and Suites, Microtel Inn, Days Inn, Super 8 and Best Western.