GF Management Affiliate Acquires Hilton Garden Inn Orlando North/Lake Mary

Renovation in excess of $2M underway

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. May 08, 2013

Philadelphia, PA - May 8, 2013 - GF Management, a leading national hotel ownership and management company, announces that its affiliate, HGILM Associates LLC, has acquired the 123-room Hilton Garden Inn Orlando North/Lake Mary located at 705 Currency Circle, Lake Mary, Florida. The hotel will maintain its affiliation with the Hilton Garden Inn brand and will remain open during a renovation in excess of $2 million which will take place during the next 6 to 12 months.

The acquisition of the Hilton Garden Inn Orlando North/Lake Mary is the first this year for GF Management, concurring with the Company's 25th Anniversary. Coupled with the acquisition of the Holiday Inn Charlotte University in 2012, GF's focused acquisition strategy is one of discipline, identifying assets of value to expand the Company's owned portfolio. Jeffrey Kolessar, Senior Vice President Development of GF Management, stated: “In an ever-changing and sometimes volatile market, you must have the capacity to act quickly. When we initially reviewed the Hilton Garden Inn Orlando North/Lake Mary as a potential acquisition, we immediately knew it would be a solid addition to our portfolio. In addition to our successful management business, we have focused our efforts to grow the Company by identifying ownership opportunities that fit into our investment criteria.”

Rockwood Real Estate Advisors, a full-service real estate investment banking firm, brokered the transaction. “It is always a pleasure to work with GF,” said Anthony Falor, Managing Director of Rockwood. “They exhibited true professionalism throughout the transaction with focused attention to the process, a testament to their commitment of acquiring quality hotels. Due to GF's energy and dedication, the transaction was seamless and even closed days ahead of schedule.”

With this acquisition, GF owns or manages 20 hotels under the Hilton Worldwide (Hilton) family of brands, including four Hilton Garden Inns. Robert Giardino, Director of Franchise Relicensing and Contract Management for Hilton stated: “We appreciate our relationship with GF as an owner and operator of Hilton branded properties. GF exemplifies our Hilton Garden Inn promise of hospitality and integrity through the commitment of providing excellent guest experiences.”

Since acquiring its first hotel in 1988, GF has grown into one of America's leading hotel owners and managers with 16 hospitality assets now under ownership by its principals and affiliates, including 16 in the state of Florida. GF's current owned and managed portfolio consists of 120 hospitality assets in 31 states, comprising over 19,400 rooms.

About Hilton Garden Inn Orlando North/Lake Mary
The Hilton Garden Inn Orlando North/Lake Mary, located just twenty-five minutes from downtown Orlando in the Orlando business suburb, features 123 comfortable guest rooms equipped with complimentary wireless internet, spacious work desk and numerous modern in room amenities. The Hotel overall encompasses 1,200 square feet of meeting space, a complimentary 24 hour business center, full service restaurant; Great American Grill, lounge, fitness center and outdoor pool.

About GF Management
GF Management is an award-winning, full-service hospitality ownership, management and advisory company founded in 1988 and based in Center City Philadelphia. With 120 hospitality assets under management, including hotels, resorts, conference centers, catering facilities, waterparks, casinos and golf courses in 31 states, GF Management specializes in third-party management, asset management and advisory services for a variety of individual, private, institutional and financial clients. Many of GF's core hospitality assets within the portfolio are owned by its principals and therein provide the strength and balance of ownership and management. The Company is currently seeking to expand its portfolio of full-service ownership and management assignments through long-term contracts and joint-venture investment opportunities.

For more information about GF Management call 215-972-2222 or visit www.GFHotels.com.