Aimbridge to Manage aloft Chicago O'Hare for Continental Properties

Continental brings first aloft hotel to Chicago area; and first of four alofts to be managed by Aimb

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. October 14, 2008

DALLAS, TX, / MILWAUKEE, WI, April 7, 2008. Continental Properties Company, Inc., a Milwaukee-based national real estate development company, has partnered with Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) to develop its new lifestyle brand aloft hotels in the Chicago area. Dallas-based Aimbridge Hospitality was selected by Continental to manage the 251-room hotel, which will be located just minutes from the Chicago O'Hare International Airport in the Rosemont Walk mixed-use development district. The property is expected to open in July 2008, and will be one of the first alofts to open worldwide.

The aloft Chicago O'Hare will be the first of four Aimbridge-managed aloft hotels to open in 2008. The hotel real estate and management company also will open and operate aloft properties in Plano, Las Colinas, and Frisco, Texas, later this year.

"Aimbridge Hospitality knows the aloft product better than anyone," said Paul Seifert, Vice President of Continental. "Aimbridge is an entrepreneurial company that is passionate about what they do - including developing and managing the aloft product. We know we have selected a top-flight company to manage this asset for us."

Seifert said Continental was drawn to aloft because of Starwood's brand strength, particularly its ability to inspire loyalty among its guests. "The Rosemont Walk development and the overall strength of the O'Hare market is a great location for this new, upscale select-service product," he said. "We get the opportunity to combine Starwood's powerful branding, Aimbridge's management skill, and one of the best hotel sites in the county. The aloft Chicago O'Hare will be a premier select-service hotel."

Dave Johnson, president of Aimbridge Hospitality, said 2008 is an exciting time to be both an aloft partner and a Continental partner.

"We are delighted to be the management partner for Continental Properties as we simultaneously open our first aloft hotel," Johnson said. "This hotel will give business and leisure travelers stylish accommodations, accessible technology, and easy access to nearby business centers and local attractions in downtown Chicago.

"This is an exciting project for everyone involved because this is the first aloft opening in a major city where W already has such a big presence," he said. "We look forward to the opening this summer."