Press Release - November 6, 2012

Pillar Hotels & Resorts' Project Management Team Completes Remodeling of Residence Inn by Marriott Salinas California

Irving, TX (November 6, 2012) Pillar Hotels & Resorts is proud to announce the renovation of the 107 Room Residence Inn Salinas, California, their 6th Residence Inn renovation of 2012. The scope of the renovation included a complete remodel of the gatehouse and all guest rooms and suites. Pillar's Team also completed renovations on the Courtyard Salinas Lobby in May, adding the new Refreshing Business Lobby with Bistro to the 90 room hotel.

The redesigned gatehouse features deep blue-green and orange hues in the dining and lobby area surrounding the central hearth, creating a warm, yet modern feel. "The new lobby really reflects the Salinas market; modern yet cozy enough to have the feel of a Residence Inn. The new gatehouse and guest suites will give us a significant competitive edge in our market." said Deanna Carlsen, General Manager.

The guest suites received the Marriott "Possibilities" package and feature granite counter tops, an upgraded lighting package, new floor coverings, drapery, flat-screen televisions, and deep brown and red furnishings. "Extended stay guests to the Salinas area will appreciate the newly upgraded features and amenities we offer. These updates coupled with our unsurpassed Residence Inn service make us the ideal choice." said Jim Van Deusen, Director of Sales for the newly renovated property.

The re-grand opening of the property marks the culmination of months of work by the Pillar Project Management Team. "The project management process begins well before the first construction crew's arrival," said Chris Chamblee. From design and procurement to brand approvals, the Pillar Project Management team is in constant motion working months in advance to move the project toward a successful start.

"With sufficient planning, most issues can be avoided," said Philip McNeill, Senior Vice President of Development. "The Project Management Team's main goal is to efficiently manage the construction, minimize interruption to guests, and support the hotel staff so they can continue to operate the hotel successfully throughout the renovation."

About Pillar Hotels & Resorts Project Management Team:

Pillar's experienced in-house project management, capital, expansion, and procurement team provides a plethora of experience to mitigate project hurdles, complications, and stress to provide maximum value. The team of dedicated members has completed over 350 combined major renovation projects throughout the past five years and has years of prior experience in other renovations and development. As a division of one of the largest hotel management companies in the U.S., Pillar Project Management is well positioned to assist owners across the country. For information visit our website www.pillarhotels.com/projectmanagement.html.

About Residence Inn:

With more than 620 hotels in North America, Europe and South America, Residence Inn, a Marriott power brand credited with introducing the extended-stay lodging segment 37 years ago, offers guests lower rates for longer stays. With a free hot breakfast offered every day that features a variety of quality items and healthy alternatives, Residence Inn helps guests prepare for the day ahead and maintain a healthy balance while on the road. In addition to the robust free hot breakfast offering, other valuable amenities include grocery delivery service, 24-hour market, fully functional kitchens in each suite, fitness room and guest laundry room. For reservations, go to www.residenceinn.com or contact your travel professional.