Press Release - May 29, 2008

WHITE LODGING RECOGNIZED AS HILTON’S DEVELOPER OF THE YEAR FOR
THE HILTON GARDEN INN BRAND

AUSTIN, TX (May 30, 2008) – White Lodging announced today the opening of the 117-room Hilton Garden Inn Austin North hotel, representing another addition to the company’s growing collection of more than 130 hotels across North America.

MERRILLVILLE, IN (May 29, 2008) – White Lodging, one of the fastest growing independent owners, managers and developers of hotels in the country, received Hilton’s prestigious Developer of the Year award for the Hilton Garden Inn brand at Hilton’s annual Focused Service Brand Owners’ Conference held in Dallas earlier this month.

The conference – which was attended by more than 1,000 owners, brand teams and Hilton Hotels Corporation team members – recognizes outstanding achievement for the development and management of Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn and Homewood Suites by Hilton brands.

Each brand recognized a Developer of the Year, Best Conversion, Deal of the Year and Outstanding Achievement for the developers who had the greatest number of project approvals or who developed one or more unique hotels that helped enhance the brand’s image in 2007. “This award serves as a great foundation to achieving our company’s vision of becoming the most desired and highly valued developer, owner and operator of leading brand full and select service hotels,” stated Deno Yiankes, president and CEO of White Lodging’s Investments & Development Division.

White Lodging was recognized for their efforts with the projected openings of the following five hotels: Hilton Garden Inn Lake Forest/Mettawa, IL (opened in May 2008); Hilton Garden Inn Austin North, TX (opened in May 2008); Hilton Garden Inn Naperville/Warrenville, IL (scheduled to open September 2008); Hilton Garden Inn Chicago/Schaumburg, IL (scheduled to open November 2008); and Hilton Garden Inn Austin Airport, TX (scheduled to open late 2009). White Lodging has developed and/or opened 15 Hilton affiliated hotels in the last 3 years (including 9 Hilton Garden Inns) with an additional 6 slated for opening over the next 30 months.

White Lodging recently celebrated the addition of its 132nd hotel and has an ambitious growth plan to add 100 properties to their management portfolio over the next five years, estimating the addition of more than 2,500 new manager and $1.5 billion in managed sales.

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