VIENNA, VA, May 6, 2008. Molinaro Koger (MK) announced today that Andy Kern of the firm’s metro-DC headquarters office facilitated the marketing and sale of the Residence Inn by Marriott, Lubbock, Texas; on behalf of Lion ES Hotels II, LLC. The Lubbock transaction was the sixth hotel Andy Kern has structured for Lion ES Hotels II since January, 2008. The 80-suite extended stay property was acquired by SA Laredo Enterprises, Inc. for an undisclosed price. SA Laredo Enterprises, Inc. obtained a long-term franchise agreement with Marriott International to continue operating the hotel as a Residence Inn. Baywood Hotels, based in Greenbelt, MD, assumed management of the hotel on behalf of SA Laredo Enterprises.

“We were pleased to facilitate the sale of this hotel to a buyer capable of moving forward quickly and decisively given the downturn in the capital markets. This asset was a strategic acquisition for the buyer who owns several hotel properties throughout the state of Texas,” remarked Mr. Kern who is Senior Vice President of MK’s Washington, DC office.

“Because they o?er high consumer value and greater operational ?exibility, Residence Inns have proven resistant to downturns. As a high quality spacious extended stay product, the Residence Inn brand demonstrates resilience and pro?tability even in slower economic times,” continued Mr. Kern.

Home to Texas Tech University, Lubbock is a growing market. The city boasts a 300,000 square foot convention center which hosts more than 400 events each year. Major employers include the University, Covenant Health Systems and United Supermarkets.