Denihan Group Signs with Ark Partners to Manage the 177-room Shoreham Hotel in Midtown Manhattan

A Conversion to an Affinia Hotel is Planned for the Summer of 2013

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. December 21, 2012

NEW YORK, NY - December 21, 2012 - Denihan Hospitality Group has announced the signing of a management agreement with Ark Partners for the 177-room Shoreham hotel, located on West 55th Street in Midtown Manhattan. The property will be converted to an Affinia Hotel in the summer of 2013.

The addition of this hotel gives Denihan a total of 12 luxury and upper upscale properties in New York City (2,577 rooms), further strengthening the Company's position as the largest owner/operator of boutique hotels in Manhattan. In addition to five Affinia hotels, Denihan's New York City portfolio also includes The James New York in SoHo, luxury independents The Surrey and The Benjamin, and several independent properties including two others owned by Ark Partners, The Mansfield and The Franklin.

“This agreement reaffirms our commitment to expanding our portfolio in New York and other key urban markets across the country,” said David Duncan, president of Denihan. “We are delighted to be building upon our relationship with Ark and adding the Shoreham to our growing collection of boutique hotels.”

"This is a natural evolution of our strategy of aligning our New York City hotel assets with likeminded, proven hotel operators," noted Brad Reiss, Chairman and CEO of Ark Partners. "We are confident that as an Affinia, the Shoreham will draw on the strength and success of one of Denihan's proprietary brands."

Affinia is a distinctive collection of boutique hotels with locations in New York City and Washington, D.C. targeting the growing base of travelers looking for a uniquely comfortable and customized experience. The brand combines modern business amenities with the comforts of home, including custom-designed Affinia beds, pillow menu and a range programs and services giving guests the opportunity to customize their stay. Affinia Hotels embrace the attributes of the community in which they are located, with design and decor easily adaptable based on the individuality of each property. Each Affinia was awarded the 2012 Certificate of Excellence from TripAdvisor as a result of travelers consistently recommending the hotels with high praise. For additional information, visit www.affinia.com or call 866-246-2203.

Located at 33 W. 55th street between Fifth and Sixth Avenues, the Shoreham enjoys a prime midtown location convenient to business, shopping, Central Park, Carnegie Hall and Broadway theatres. Featuring the Shoreham Bar, which fronts 55th Street, the hotel also has catering and event facilities for up to 150 guests in a variety of private settings. For more information, please visit www.shorehamhotel.com

About Denihan Hospitality Group Denihan Hospitality Group is a privately-held, full-service hotel management and development company that owns and/or operates 15 boutique hotels in major urban markets in the U.S. Over the past 50 years, the Denihan family has built a world-class lodging investment platform within the boutique hotel space, creating value by acquiring, repositioning and managing independent hotels.

The Denihan portfolio includes properties operating under The James and Affinia Hotels brands, as well as Manhattan luxury independents, The Surrey and The Benjamin, and additional independent affiliates in New York City. Denihan's hotels include an impressive list of chef-driven restaurants and bars, including Iron Chef Geoffrey Zakarian's The National Bar and Dining Rooms at The Benjamin; David Burke Kitchen at The James New York; Daniel Boulud's Cafe Boulud at The Surrey; David Burke's Primehouse at The James Chicago; and Art Smith's Art and Soul at the Liaison Capitol Hill, an Affinia hotel in Washington, D.C.

The company's uniquely guest-centric approach, refined through three generations of Denihan leadership, has made it an industry leader in hospitality, property and restaurant development, as well as hotel operations, management and marketing. In 2012, Denihan was named to Inc. Magazine's 500|5000 list of Fastest Growing Companies for the fourth year in a row, where it topped the list of full-service hotel companies.

More details can be found at www.denihan.com

About Ark Partners
Headed by Chairman/CEO Brad M. Reiss and President John Yoon, Ark Partners is a New York City-based real estate investment company founded in 2002 engaging in the acquisition, ownership, development, repositioning and asset management of a broad range of real estate in various national and international markets. In addition to the Mansfield and Franklin hotels, Ark also owns the Shoreham Hotel in New York City, Tryp Quebec Hotel Pur in Quebec City, Canada and the Embassy Row Hotel in Washington, DC. Ark recently topped off construction on a 241-room luxury lifestyle hotel located at 120 W. 57th Street in Manhattan. Featuring a facade and interiors designed by Roman & Williams and architecture by Gene Kaufman of Gwathmey, Siegal and Kaufman, the hotel is anticipated to open in 2013.

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