FOR IMMEDIATE RELEASE

For information, contact:
Lisa Beers, VP, Public Relations
(860) 442-4559
lbeers@waterfordgroup.net

Waterford Hotel Group Holds Annual Executive Conference

Attendees Review Increase in Managed Hotel Property Portfolio,
Announce $38,500 Donation to March of Dimes

WATERFORD, CT, January 30, 2002 – More than 40 Waterford Hotel Group managers and senior sales directors gathered at the Mystic Marriott Hotel and Spa in Groton, CT from January 27 to January 29, 2002 for the company’s 12th Annual Executive Conference. Attendees at the three-day conference reviewed the company’s progress in increasing its portfolio of managed hotel properties over the last 12 months with the addition of three properties. Waterford Hotel Group President and Chief Operating Officer, Robert Winchester, also presented a $38,500 check to the March of Dimes, the company’s corporate charity.
The conference also featured a series of training sessions, designed to share sales, operations, and management “best practices” from across the hospitality industry. Guest speaker Brian Holloway shared the story of how he overcame adversity through self-motivation to star in the National Football League. The conference concluded with an awards ceremony recognizing excellence throughout Waterford Hotel Group.
Len Wolman, Chairman and CEO of Waterford Hotel Group, opened the conference by congratulating Waterford Hotel Group senior managers on the successes they achieved in 2001, despite the challenges for the hotel industry posed by recession and the September 11 terrorist attacks. He noted “Waterford Hotel Group continues to grow because of our single-minded focus on providing the best customer service in the business.” He added, “Our commitment to associate relations and a positive guest experience is underscored by conferences like this, where intensive training and the sharing of experiences contribute to greater associate and customer satisfaction.”

Mr. Winchester told the conference attendees that 2002 should be a strong year for Waterford Hotel Group. Mr. Winchester said, “In 2001, our properties enjoyed a 20% increase in revenue over the prior year, while the industry experienced a 4.7% decline in revenues.” He added, “More and more owners are looking to us to manage their hotel investments because of our track record in maximizing profitability while providing a superior guest experience. They realize that people like to stay at hotels managed by Waterford Hotel Group.”
During a luncheon ceremony, Mr. Winchester presented a check for $38,500 to March of Dimes on behalf of the associates of Waterford Hotel Group. March of Dimes has been the company’s corporate charity since 1995. Since then, Waterford Hotel Group has donated more than $175,000 to the charity, through associate fundraising events such as “Blue Jeans for Babies,” WalkAmerica, and bake sales.
Top performers for the year 2001 were recognized during an awards dinner on Tuesday evening. Individual winners included:

• Associate of the Year: Michelle Cuervo – Residence Inn by Marriott, Hartford, CT
  
• Department Head of the Year: Stefan Ryll – Courtyard by Marriott, Concord, NH
  
• General Manager of the Year: Michael Heaton – Courtyard by Marriott, Norwich, CT
  
• Director of Sales of the Year: Paulette Kruger – Kingsley Hotel & Suites, Bloomfield Hills, MI
  
• Awards were also given in six team and property categories. Team and property winners included:
  
• Hotel Team of the Year: Residence Inn by Marriott, Downtown Hartford, CT
  
• Most Improved Rev Par: Courtyard by Marriott, Norwich, CT
  
• Maintenance Team of the Year: Courtyard by Marriott, Norwich, CT
  
• Food & Beverage Team of the Year: Radisson Governor’s Inn, Raleigh, NC
  
• Housekeeping Team of the Year: SpringHill Suites by Marriott, Waterford, CT
  
• Front Office Team of the Year: Residence Inn by Marriott, Norman, OK

Waterford Hotel Group has experience operating virtually every type of hotel property, including limited services properties, all-suite hotels, conference centers, and large full service and resort properties. The company’s approach to hotel development and operations is hands-on, and features frequent site visits and constant communication with customers and partners.

Additionally, Waterford Hotel Group offers centralized accounting, financial reporting, strategic marketing, human resources, and day-to-day operations management systems to increase market share and profitability at all properties.
Waterford Hotel Group, with offices located in Waterford, currently operates 26 properties in 10 states. Franchises managed include Marriott, Starwood, Six Continents, Choice, Cendant, and Radisson, as well as independents.