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 Richfield Adds Tom Busch and Terri X. Radcliffe
to Corporate Team; Will Provide Development
and Marketing Thrust

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Denver — November 6, 2003 — Richfield, a SWAN Solution, is more opportunistic than ever before. Not only has the company embarked on a Sliver Equity plan to invest in a select number of real estate opportunities in the year ahead, but they are investing heavily in the proven talents and reputations of Tom Busch and Terri X. Radcliffe to drive development on the west coast and rev-up the e-marketing effort at the property level.

“Richfield is raising the bar by raising our level of commitment to the industry through a deployment of capital and a deployment of fresh, quality talent,” said Aik Hong Tan, Richfield President. “Now that we are positioned financially, we can concentrate on improving the capital appreciation of hotel assets, and develop and execute e-marketing strategies that will create greater visibility, increase electronic bookings, optimize rates, capture greater market share, enhance Inventory control and ultimately provide more top-line revenue for the hotels we manage.

“Bringing Tom Busch on board as director of business development and Terri X Radcliffe as vice president of sales and marketing will quickly put Richfield back on the map as a leading contender for effective and proven hotel management services,” he said.

Busch and Radcliffe join a team that is as qualified as they are committed. The Richfield management team has a proven track record of assisting owners and operators who are experiencing increased performance concerns relating to the repositioning of their asset in its competitive market, as well as improving profitability flow through. The company has successfully managed more than 250 properties, encompassing the entire range of product type, quality, size and scope of operation.

Managing 25 Properties in 11 States
* Consultancy Contracts

CA
Ft. Bragg  - The Lodge at Noyo River
Little River  - Heritage House Inn
Los Angeles  - Furama Hotel
Mendocino  - Hill House Inn
Mendocino  - Mendocino Hotel & Garden Suites
Sunnyvale - Four Points by Sheraton Sunnyvale

CO
Avon  - Comfort Inn Avon

FL
Boca Raton  - Doubletree Guest Suites Boca Raton
Ft. Lauderdale  - Comfort Suites Airport & Cruise Port

IL
Decatur  - Country Inn & Suites Decatur
Decatur  - Holiday Inn Select Conference Hotel
Decatur  - Ramada Limited Hotel
South Jacksonville  - Comfort Inn and Suites Jacksonville

MD
College Park  - Comfort Inn & Suites - College Park
McHenry  Wisp Resort

NC
Research Triangle Park  - Clarion Hotel @ Research Triangle Park

NJ
Morristown  - Madison Hotel

NM
Santa Fe  - Eldorado Hotel *

NY
Cheektowaga  - Four Points Hotel Airport - Buffalo

OH
Chagrin Falls  - Pine Lake Trout Club
Cleveland  - Glidden House
Piqua  - Comfort Inn Piqua

VA
Alexandria  - Comfort Inn Alexandria / Van Dorn
Falls Church  - Comfort Inn Washington Gateway West / Falls Church
Herndon  - Comfort Inn Herndon

“Few management companies have this leverage or this level of expertise,” Tan said.

Busch is bullish on development

As director of business development, Busch said he is concentrating on generating new management contracts on the West Coast and reiterating the Richfield success story to solidify its position as an important and active player in the marketplace.

“Richfield wants to expand its presence in the western region,” Busch said. “Our strategic investment plans will allow us to pursue and secure hotel opportunities in the mid to upper full-service segment with strong commercial demand characteristics.”

Busch is a veteran to hotel development. Previously he held franchise sales and development positions with Cendant Corp., Prime Hospitality Corp., and Six Continents Hotels/Holiday Inn brands. More recently, he served as director of business development, mergers and acquisitions for ERA Real Estate Corp. and built three hotels in Northern CA while a partner in TDP Construction, a company which represented owners in various facets of hotel development, including site selection, general construction, entitlements and franchise/brand selection. He has walked in the shoes of a hotel owner and also sold assets and management contracts.

“Richfield is a perfect fit,” Busch said. “Aik Hong’s leadership quality is second to none and his vision is contagious. The entire Richfield team exudes a dedication, intensity and understanding of the marketplace that will help even the most struggling hotel survive and eventually thrive – even amidst this uncertain economy.”

Radcliffe, too, said she immediately felt the synergies between herself and Richfield. As a 25-year hospitality veteran, Radcliffe held numerous leadership roles such as vice president of marketing and sales for Stonebridge Companies, VP of marketing and operations for Hostmark Hospitality, and held property-level positions such as general manager and director of sales.

“Richfield has the belief that they turn challenge into opportunity. That fits me perfectly,” Radcliffe said. “It’s the way I think. It’s a synergy of mindsets and a synergy in ultimate goals.”

Rad approach to electronic marketing

Out of the gate, Radcliffe said she is concentrating on training and development at the property level for each sales-and-marketing department in order to implement comprehensive revenue management strategies with e-commerce initiatives. In addition, she said she will work hand-in-hand with Sceptre, Richfield’s sister company under the SWAN umbrella, which provides channel advisory services, electronic yield management, and a full range of reservation services (including GDS connectivity, private-label voice, distribution through the major Internet channels) to significantly enhance the online sales and marketing effort of Richfield hotels.

“Assisting hotels in identifying trends and maximizing revenue, rather than displacing revenue through Internet channels will provide our clients with a real opportunity to see revenues increase immediately,” she said. “Richfield has the innate ability to spot trends that are developing and execute strategies that will produce substantiated results.”

About Richfield
Richfield Hospitality Services provides a full complement of management services to a broad range of limited-service, full-service and resort hotels.  The company achieves operating results through intense focus of its strong commitment to guests, employees and owners. Richfield is one of the key business units of SWAN Inc., a multi-service company focused on the hospitality industry. 

Swan Inc. is headquartered in Denver with approximately 1,000 employees. The company's shareholders include City e-Solutions Limited (CES) listed on the Hong Kong Stock Exchange, and Millennium & Copthorne Hotels plc, a U.K.-based company listed on the London Stock Exchange, operating 91 hotels worldwide.

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Contact:
Richfield
5775 DTC Boulevard, Suite 300
Greenwood Village, CO 80111
Phone: (303) 220-2309 
 www.Richfield.com
Also See: Richfield Pursues Equity Investments / October 2003
Richfield Releases Impressive Results for Diverse Portfolio of Managed Hotels / June 2003


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