CNL Hospitality Properties, Inc. "We are also pleased to continue our relationship
with Hyatt Hotels, adding the third quality Hyatt property to our portfolio."
|ORLANDO, Fla., Dec. 15, 2003 - CNL
Hospitality Properties, Inc. ("CNL") has announced it has acquired
the 607-room Wyndham Montreal from a third-party owner, which has been
converted to the Hyatt Regency Montreal. This acquisition adds the
Canadian market to the CNL portfolio, which is the company's first market
outside the United States.
"CNL has been looking to expand its portfolio outside of the United
States, and we are pleased to do so with the acquisition of this exceptional
property," said Thomas J. Hutchison III, CEO of
Hyatt Regency Montreal
(formerly Wyndham Montreal)
1255 Jeanne Mance Rue
The newly flagged Hyatt Regency Montreal is located in the heart of
the city, adjacent to the Le Palais du Congres Convention Centre via an
underground passage featuring 120 shops and restaurants. The four star
property underwent $25 million in renovations and received the Ulysses
Award for the best hotel in Montreal. Amenities include 34,000 square-feet
of meeting space, an indoor pool, gym, gardens and Le Cafe Fleuri restaurant.
The hotel is owned by CNL and will be operated by Hyatt Hotels Corporation
under a long-term management contract. Hyatt has planned extensive
renovations to the property that will begin immediately and proceed over
next year focusing on all areas of the hotel, including guest rooms, function
space, food and beverage facilities and lobby. One of the most significant
changes will be the inclusion of a Regency Club lounge on the 12th floor.
CNL Hospitality Properties, Inc. is an affiliate of CNL Financial Group,
Inc., and specializes in the investment of quality hotels and resorts.
Through partnering with several top-tier lodging companies, CNL Hospitality
Properties, Inc. owns interests in a portfolio of 127 hotels with more
than 27,000 rooms in 37 states and Quebec, Canada.
Headquartered in Orlando, Florida, CNL Financial Group, Inc. is one
of the nation's largest, privately held real estate investment and finance
companies. CNL Financial Group, Inc. and the entities it has formed
or acquired have more than $9 billion in assets, representing more than
3,000 properties in 49 states.