Waterford, CT (October 24, 2002) – Waterford Hotel Group, Inc. has entered into two management agreements with ENN Leasing Company II, L.L.C. to operate the Residence Inn by Marriott in Princeton, New Jersey and the Residence Inn by Marriott in Tinton Falls, New Jersey. ENN Leasing Company II leases the two Residence Inn properties from Equity Inns, Inc., a hotel Real Estate Investment Trust. Under the new contract, Waterford Hotel Group assumes management of the two Residence Inns on October 1, 2002. The addition of these management contracts brings the Connecticut-based hotel management firm’s portfolio to 29, 14 of which are Marriott-brand products.

Earlier this year, Waterford Hotel Group assumed management of the Residence Inn by Marriott in Burlington, Vermont, which is another affiliate of Equity Inns. “We are pleased to expand our relationship with Equity Inns and looking forward to a successful working relationship with the staffs of these two Residence Inns properties,” said Robert Winchester, president and COO of Waterford Hotel Group, Inc. “With the addition of these properties, we have 9 Residence Inns in our portfolio. Our extensive experience with the Residence Inn by Marriott brand makes Waterford the right choice to manage these facilities,” he added.
The Residence Inn brand is designed to attract the extended stay business traveler, as well as the corporate and leisure traveler. The all-suite properties feature fully equipped kitchens and living areas.

The Residence Inn Tinton Falls features 96 suites, meeting facilities, an outdoor pool, an exercise room, and a whirlpool. Hotel guests can enjoy a wide array of nearby attractions and activities, including Freehold Raceway, Great Adventure/Six Flags Park, jogging, tennis, squash, golf, and beaches.

The Residence Inn Princeton features 208 suites, meeting facilities, and outdoor pool, and a whirlpool. Nearby activities include shopping, beaches, a full-service spa, a health club, tennis, and golf. The hotel is located in close proximity to Princeton University, McCarter Theater, New Jersey State Theatre, and Sesame Place.

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 29 properties nationally. Franchises managed include Marriott, Starwood, Six Continents, Choice, Cendant, and Radisson, as well as independents. For more information, visit our website at www.waterfordgroup.net.