HRI Lodging Primed for Growth

Coolidge Addition and Almanac Investment Boost HRI's Capabilities

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. January 16, 2015

NEW ORLEANS - January 16, 2015 - Recent advances, including a newly hired CIO and an influx of capital, has further energized HRI Lodging, one of the 50 largest hotel management companies in the United States. Based in New Orleans but offering services nationwide, HRI Lodging has focused on the development of mixed-use and revitalization projects, acquisitions and national growth to date, but now the company has the flexibility to enter into joint ventures with other institutional partners and property owners to create real estate value.

“We have a best-in-class team and full resources in place to be the turnkey hospitality partner for owners, brokers, lenders and brands across the country,” said Gary Gutierrez, President of HRI Lodging.

Michael Coolidge signed on as Chief Investment Officer this past October. He brings over 20 years of experience to HRI Lodging, previously serving as Senior Vice President of Real Estate, Acquisitions and Lodging Development at CSM Corporation. He also had leadership roles at Carey Watermark Investors, Hyatt Hotels & Resorts and Sage Hospitality Resources. Coolidge is a graduate of Cornell University's School of Hotel Administration and Paul Smith's College. He serves as a member of the Dean's Young Alumni Advisory Council for the Cornell School of Hotel Administration. Under Coolidge's leadership, HRI Lodging has some exciting plans in the offing for hotel development projects and acquisitions around the country.

“I joined the team at HRI Lodging because I have a firm belief in this company as a great partner and a provider of best-in-class resources,” Coolidge said. “I'm here to help HRI reach the next level and achieve the company's full potential.” Also this past October, HRI announced an agreement with affiliates of Almanac Realty Investors LLC (“Almanac”), under which Almanac has provided $150 million of growth capital to HRI. HRI is using Almanac's capital to continue its focus on the development of mixed-use and revitalization projects, acquisitions and national growth. Further, the capital provides HRI with the flexibility to enter into joint ventures with other institutional partners and property owners to create significant real estate value.

“HRI's unique in-house capabilities of developing and operating hotels and apartments nationwide represented a compelling opportunity for Almanac.” said Tom Leonhard, HRI's President and Chief Operating Officer. “This will be a mutually beneficial partnership and will enable HRI to further grow in depth and broadness.”

In addition to the $2 billion of development HRI Properties has already overseen, the company currently has nearly $300 million in development in Louisiana, Virginia and Texas, as well as several development deals in various stages of pre-construction. To learn more about what HRI can offer partners in the hospitality industry, visit www.hriproperties.com, www.hrilodging.com or call (504) 566-0204.

About HRI Lodging

HRI Lodging, LLC (HRIL) is one of the 50 largest hotel management companies in the U.S. with a current portfolio of 19 hotels and resorts spanning the continental U.S. By building alliances with major domestic and international investment firms, the organization pursues a dual mode growth strategy of managing independent, boutique properties as well as partnering with industry leading brands, including Marriott, Hilton, Hyatt, Starwood and Intercontinental Hotel Group. HRI Lodging is the hotel management division of New Orleans-based HRI Properties, a full-service real estate development company and a national leader in the adaptive reuse of historic structures. HRI's mission is: Revitalizing Cities by Creating Diverse, Vibrant and Sustainable Communities.

Connie Boudreaux
Public Relations Account Executive
Peter Mayer Advertising
New Orleans, LA
504.210.1297 (t)
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