FOR IMMEDIATE RELEASE

Lisa Beers
Waterford Hotel Group
(860) 442-4559
lbeers@waterfordgroup.net

The Residence Inn by Marriott in Norman
Completes Comprehensive Renovation.

Norman, Oklahoma, January 9, 2003 --- The Residence Inn by Marriott in Norman has just completed a more than $5 million hotel renovation making it Norman’s newest hotel. The Residence Inn by Marriott in Norman is professionally managed by Waterford Hotel Group, a national hotel management firm currently operating 27 properties in 10 states.

The renovation project has transformed the 18-year old hotel into a new property. The work on the 126 suite hotel included a comprehensive renovation of the exterior, grounds, lighting, and public areas. The extensive interior renovation included paint, wall vinyl, all new appliances and kitchen remodel, furniture, and new bathrooms which included bathtubs, tile, toilets, cabinetry, mirrors, lights, fixtures. The gatehouse/breakfast room, meeting room, and registration area was completely remodeled. View Exterior
“Our fresh look goes hand-in-hand with our commitment to quality and guest service,” said Robert Winchester, President and COO of Waterford Hotel Group, Inc. “We’re excited about continuing our tradition of excellence. Waterford Hotel Group is thrilled to operate and reinvest in the Norman community by offering the highest quality hotel product.”

The Residence Inn by Marriott in Norman features Marriott’s newest room décor package, spacious rooms with fully equipped kitchens, complimentary hot breakfast, evening hospitality hour, grocery shopping, outdoor pool and Jacuzzi, fitness room, and ample parking. The hotel is located near the University of Oklahoma, Lloyd Noble Center and Norman’s fine restaurant and shopping area.

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 27 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.