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  The Procaccianti Group Acquires the
Tulsa Doubletree at Warren Place

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PROVIDENCE, R.I., February 10, 2004 — Officials of The Procaccianti Group (TPG), a New England-based, full-service, privately owned hotel ownership, management and construction company, today announced that the company has acquired the 370-room Tulsa Doubletree at Warren Place in Oklahoma.
 
“This is our second acquisition in Oklahoma and our fourth in the Midwest during the past year,” said Gregory D. Vickowski, TPG chief financial officer.  “This clustering of properties allows us to achieve greater economies of scale in purchasing and marketing and share management expertise.  While we remain focused primarily on our expansion along the eastern seaboard, we will continue to seek upscale, full-service properties that 
Doubletree Hotel Tulsa at Warren Place
 6110 S. Yale Avenue
Tulsa, Oklahoma
can benefit from improved management and/or renovation in markets with high barriers to entry throughout the United States.”

“Both the Tulsa Doubletree at Warren Place and the Waterford Marriott, our other Oklahoma hotel, are considered among the finest in the state,” noted Vickowski.  “As we continue to seek additional hotels in the Midwest, we plan to maintain this high level of property excellence.”

Located at 61st Street and Yale Avenue in the prestigious 1 million square foot Warren Place office complex, the hotel sits atop a hill in the heart of southern Tulsa.  Adjacent to LaFortune Park and St. Francis Medical Center, the property is just over a mile from Interstate 44 and 15 minutes from Tulsa International Airport. 

The hotel features a complimentary fitness center, airport shuttle service, the AAA 4-star rated Warren Duck Club restaurant, Greenleaf’s sidewalk café and Encounters bar.

Founded in 1958, The Procaccianti Group is a full-service, privately owned, real estate company that acquires, manages and rehabilitates full-service hotels. The company is engaged in hotel and commercial property acquisitions, property management and construction.  The Procaccianti Group is ranked among the top 30 hotel owner/operators in the country.


 
Contact:
The Procaccianti Group
Chris Daly
(703) 435-6293
Also See: The Procaccianti Group Names Three New Vice Presidents / January 2004
The Procaccianti Group Acquires Three Hotels at Well Below Replacement Cost from Host Marriott / July 2003


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