HRI Lodging to Manage Two Hotels Recently Acquired by Carey Watermark Investors

The 131-room Hilton Garden Inn Baton Rouge Airport in Louisiana and the 105-room Hampton Inn & Suites Legacy Park-Frisco in Texas

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. February 25, 2013

New Orleans, LA - February 25, 2013 - HRI Lodging has expanded its management portfolio of hotel properties with two Louisiana and Texas hotels recently acquired by Carey Watermark Investors Incorporated (CWI).

CWI announced earlier that it purchased five hotels within the Hilton Worldwide portfolio of brands. Of those five hotels, HRI Lodging will manage the 131-room Hilton Garden Inn Baton Rouge Airport and the 105-room Hampton Inn & Suites Legacy Park-Frisco.

The hotels are HRI Lodging's eighth and ninth properties and bring the total room inventory to 1,614. The new properties are HRI Lodging's first Hampton Inn and fourth Hilton Garden Inn. HRI Lodging currently operates hotels in Louisiana, Mississippi, Texas and Virginia.

“Adding these two hotels to our portfolio is another step in HRI Lodging's long-range growth plan,” said Gary Gutierrez, President of HRI Lodging. “We look forward to implementing the programs and standards that have been successful at our other properties in order to maximize the performance for the owners and the customer experience for our guests,” Gutierrez added.

The Hilton Garden Inn Baton Rouge Airport is minutes from the Baton Rouge Metropolitan Airport and provides a complimentary shuttle to and from the airport. It is convenient to LSU, Southern University, the Mall of Louisiana and Baton Rouge corporations. The hotel offers free WiFi access and is home to a 24-hour business center. Its meeting rooms can host up to 125 guests. The Great American Grill serves cooked-to-order breakfast and Southwestern dinners.

The Hampton Inn & Suite Legacy Park-Frisco is located in an affluent north Dallas neighborhood centrally located to shopping, sports venues and local businesses and corporations. The hotel offers free high-speed Internet access, a free hot breakfast, and a complimentary manager's reception with appetizers and beverages Monday through Wednesday evenings.

HRI Lodging's sister company, HRI Construction, will oversee physical improvements to all five hotels acquired by CWI. The upgrades will include contemporary design features to bring the hotel lobbies and rooms to the latest contemporary design standards.

HRI Properties recently moved its corporate office to the restored iconic Hibernia Building in the New Orleans Central Business District.

About HRI Lodging

HRI Lodging operates hotel properties in New Orleans, LA; Shreveport, LA; Jackson, MS and Richmond, VA. HRI Lodging hotels include the restored D.H. Holmes department store in New Orleans, which last year was renovated as the Hyatt French Quarter. Other historic properties include the restored King Edward Hotel in Jackson, MS and the Miller & Rhoads department store in Richmond, VA, both of which fly the Hilton Garden Inn flag. HRI Lodging's other hotels are the Shreveport Hilton adjacent to the Convention Center in downtown Shreveport , the Hilton Garden Inn French Quarter/CBD and the Hyatt Place across the street from the New Orleans Convention Center. For more information, go to www.hrilodging.com.

Based in New Orleans, HRI Properties (HRI) is 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, sustainable communities. For more information, go to www.hriproperties.com.

Carey Watermark Investors

Carey Watermark Investors Incorporated is a publicly registered non-traded real estate investment trust (REIT) that invests primarily in the lodging and lodging-related sectors. www.careywatermark.com