Richfield Hospitality to Manage Five-hotel Portfolio in Rochester, Minnesota

The International Hotel, Kahler Grand Hotel, Kahler Inn & Suites, Marriott Rochester Mayo Clinic Area and Residence Inn by Marriott Rochester Mayo Clinic Area Under New Management

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. October 21, 2013

ROCHESTER, MN /DENVER, CO - October 21, 2013 - Richfield Hospitality, a leading hotel management company, today announced that it has been retained by Kahler Hotel Group to operate five hotels in Rochester, Minn. Kahler Hotel Group whose board of directors is chaired by Javon R. Bea, who is also president and CEO of Mercy Health System, a vertically integrated health system with 69 medical facilities in southern Wisconsin and northern Illinois. All the hotels, totaling nearly 1,300 rooms, are located in the downtown district and are the closest to the renowned Mayo Clinic.

"Serving as board chairman of these hotels are a natural extension of my life's interest in wellness and caring for people," Bea said. "The majority of our guests, several of whom have specialized healthcare needs, visit Rochester to go to the Mayo Clinic. Their journey requires a unique level of service that is centered on wellness. When we looked at management companies to operate these hotels, Richfield's commitment to guest service excellence and experience with flexibility to the hotel's unique specialize needs with both branded and independent hotels set them apart."

"This is a great portfolio of hotels," said Greg Mount, president of Richfield Hospitality. "To provide the special service that guests require, especially when including health care related issues. This portfolio also can leverage economies of scale to operate at a highly efficient level, while encompassing luxury to extended stay hotel categories."

"The reputation of Mr. Bea and his leadership at Mercy Health System, has set the bar at the highest level for Richfield, and we are up to the challenge," he noted. "Mercy Health System has been awarded the Malcom Baldridge National Quality Award. The company also has received numerous other acclaims, including being ranked #1 and #2 on AARP's Top 100 Best Places to Work for Workers over 50 and named among the top 25 Integrated Healthcare Networks by Modern Healthcare magazine for more than consecutive10 years. Our operating philosophies are similar, and we look forward to building a long-term relationship."

Rochester's only hotels, interconnected to the Mayo Clinic via the city's climate-controlled underground pedestrian walkways, include:

• International Hotel-The property features 44 luxury rooms and suites and is directly connected to the Mayo Clinic. It offers the city's largest meeting facility's, with 30,000 square feet of flexible space. The hotel's amenities include a domed rooftop swimming pool, whirlpools, sauna and fitness center that it shares with its sister Kahler Grand Hotel, located in the same building.
• Kahler Grand Hotel-Offering 660 rooms and suites across the full range of segments from luxury to economy, the historic Kahler Grand Hotel caters to a broad cross-section of travelers from around the globe.
• Kahler Inn and Suites-The hotel's public space and its 271 standard rooms and extended-stay suites recently completed a full renovation. Amenities include refrigerators in every room, complimentary continental breakfast and swimming pool.
• Rochester Marriott Mayo Clinic Area-Also recently renovated, the Marriott offers 203 rooms and more than 10,000 square feet of flexible meeting space.
• Residence Inn by Marriott Rochester Mayo Clinic Area -The newly upgraded hotel features a total of 89 studio, one- and two-bedrooms suite configurations. Each room includes a kitchen with full-sized appliances.

About Richfield Hospitality

Richfield Hospitality, Inc. is a leading hotel management company with a premier track record of maximizing profitability and improving asset values for hotel owners. From hotel operations and property management to electronic distribution and interactive marketing, Richfield achieves superior operating results through its strong commitment to guests, employees and owners. Based in Denver, Richfield is part of City Developments Limited, one of the world's largest real estate, hotel investment and technology conglomerates with a market capitalization exceeding US$7 billion. Additional information about Richfield Hospitality may be found at the company's website www.richfield.com.