|DALLAS - Jan. 27, 1999-- Wyndham Hotels & Resorts announced
today its planned opening of a 362-room, upscale hotel in the heart of
Boston's Financial District upon completion of the $40 million redevelopment
of the historic Batterymarch Building.
The Wyndham Boston Hotel, opening in the second quarter 1999, is owned
by Patriot American Hospitality, Inc. (NYSE:PAH) and will be managed by
an affiliate of Patriot's paired operating company, Wyndham International,
"We are excited to establish the Wyndham brand in downtown Boston, widely
considered to be one of the nation's most important business markets,"
said James D. Carreker, chairman and CEO of Wyndham International, Inc.
"Our redevelopment of the Batterymarch Building to an upscale hotel underscores
the company's strategy to expand the Wyndham brand in major metropolitan
markets with notoriously high barriers of entry."
Last April, Patriot American completed its acquisition of the Batterymarch
Building for $33.9 million. Built in 1928, the 280,000 sq. ft., 14-story
building is a designated historic landmark and occupies a full city block
in Boston's Financial District. The second floor of the building will continue
to be occupied by the building's current tenant, Northeastern University.
The Batterymarch Building, designed by Harold Field Kellogg, a renowned
Boston architect, is significant as the first Art Deco skyscraper in Boston,
and at the time of its construction in 1928 was the largest office building
downtown. The building's most distinctive feature is the innovative use
of colored brick to create the illusion of height. Thirty different shades
of brick were used, beginning with dark brown at the base and progressing
to a light buff at the top. The building also has extensive decorative
terra cotta detail painted green, red and gold.
"Given the highly desirable location of the building, in the heart
of Boston's Financial District, as well as its proximity to the waterfront
and numerous historic attractions, the Batterymarch Building will easily
become a flagship Wyndham hotel serving the needs of both the business
and leisure traveler," said Les Bentley, president of the Wyndham Hotel
Group, a division of Wyndham International, Inc. that controls the operations
of Wyndham Hotels, Wyndham Resorts, Wyndham Grand Heritage Hotels and Wyndham
Perfectly situated in the heart of Boston, only blocks away from Quincy
Market, Fanueil Hall, the Waterfront, and Post Office Square, the hotel
is an historic Art Deco-style landmark that will feature 10,000 sq. ft.
of meeting space, 66 suites, a concierge and business center, gift shop,
Caliterra Bar & Grille, library, and a fitness center. Several top
floors will feature guest rooms with harbor views.
Each hotel room will be upgraded with Wyndham's standard "Business,
The Wyndham Way" amenities designed for the comfort and convenience of
today's business traveler. "Business, The Wyndham Way" is a continuation
of Wyndham's brand philosophy, "The Right Way, The Wyndham Way," that drives
the chain to stay in touch with the needs of their core customers and respond
with the right services and products.
Other Wyndham-branded hotels in the Boston area include the 322-room
Tremont Boston - A Wyndham
Grand Heritage Hotel, located in the downtown area; the 180-room Wyndham
Garden Hotel - Burlington, approximately 20 minutes from downtown; and
the 148-room Wyndham Garden Hotel - Waltham, located nine miles west of
Based in Dallas, Patriot American Hospitality, Inc. (NYSE:PAH) is currently
the nation's second-largest hotel real estate investment trust (REIT) with
a portfolio composed of 487 owned, managed, leased or franchised hotels
with more than 105,000 rooms. Patriot American owns the proprietary Wyndham
brand name. Its paired operating company, Wyndham International, Inc.,
controls the operations of Grand Bay Hotels & Resorts Luxury Division,
the Wyndham Hotel Group, the All-Suites Division, and the Asset Management
Group. The Asset Management Group leases, manages and franchises primarily
upscale hotel and resort properties represented by its proprietary brands,
and provides management services for third-party owned hotels and resorts.