Boykin Lodging Acquires Radisson Suite Beach Resort in Marco Island, Florida, for $27.25 million / Aug 2003

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Boykin Lodging Acquires Radisson Suite Beach Resort
in Marco Island, Florida, for $27.25 million

CLEVELAND, Aug. 26, 2003 - Boykin Lodging Company (NYSE: BOY), a hotel real estate investment trust (REIT), today announced that it has acquired the Radisson Suite Beach Resort in Marco Island, Florida, for $27.25 million.

The beachfront resort is situated along the Gulf of Mexico on Florida's Marco Island, just south of Naples. The resort comprises 233 deluxe one- and two-bedroom suites centered on a lush tropical courtyard, all with screened balconies and views of the Gulf. Other amenities of the property include meeting areas capable of accommodating both large and small groups, an outdoor pool and whirlpool, fine dining and poolside restaurants, a lounge and other resort amenities.

Robert W. Boykin, Chairman and Chief

Radisson Suite Beach Resort
600 South Collier Blvd.
Marco Island, Florida

Executive Officer, stated, "We are extremely excited to acquire this unique destination property. As one of only four upscale, full-service beachfront hotels on Marco Island, the hotel enjoys the significant barriers to entry that we seek in a new acquisition. Furthermore, the all-suite nature of the property makes it an ideal candidate for hotel condominium conversion, and the Marco Island condominium market is exceptionally strong. We have had significant success in the sale of condominium units within the Pink Shell Beach Resort in Fort Myers Beach, and believe that the Radisson could be a very attractive continuation of this strategy, through conversion or redevelopment."

The Company funded the purchase through borrowings under the Company's credit facility. The Company has engaged Boykin Management Company to manage the resort.

Boykin Lodging Company is a real estate investment trust that focuses on the ownership of full-service, upscale commercial and resort hotels. The Company currently owns 29 hotels containing a total of 8,430 rooms located in 18 states, and operating under such internationally known brands as Doubletree, Marriott, Hilton, Radisson, Embassy Suites, and Courtyard by Marriott among others.

Certain matters discussed within this press release may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations.

Contact:
Boykin Lodging Company
http://www.boykinlodging.com

Also See:	Quaker Square Properties, Owner of Crowne Plaza in Akron Takes Back Management of Hotel from Boykin Management Company / June 2003
	2002 Florida Lodging Report / Major City Reports / Ernst & Young LLP / Feb 2002

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