Carroll Opens Embassy Suites, Fort Myers, FL

Hotel Owners Along with Embassy Suites Hotels Donate $100,000 to the Resort and Hospitality Manageme

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. October 14, 2008

BEVERLY HILLS, CA, September 14, 2006. Hilton Hotels Corporation (NYSE:HLT) today celebrated the grand opening of the 150-suite Embassy Suites Hotel(R) - Fort Myers/Estero in Florida, representing the 1,000th hotel opened by the company since Hilton's highly successful acquisition of Promus Hotel Corporation at the end of 1999. Embassy Suites Hotels is one of the brands that joined the Hilton Family of Hotels from Promus as a result of the transaction.

The Embassy Suites Hotel Ft. Myers/Estero is owned by Carroll Hotel 21, LLC and is managed by Fort Myers-based Carroll Property Investments, Inc.

"Despite a challenging economy earlier in this decade, Hilton Hotels Corporation has opened a new hotel approximately every other day since the turn of this century," said Tom Keltner, president - brand performance and development group, Hilton Hotels Corporation. "We are on pace to break that record by adding another 1,000 hotels by the end of this decade."

"The Ft. Myers/Estero Embassy Suites exemplifies the type of property that has helped the Hilton Family of Hotels achieve this milestone," said Jim Holthouser, senior vice president - brand management, Embassy Suites Hotels. "Embassy Suites is the leader in its segment and offers business and leisure travelers the finest in service and accommodations. This hotel will be the premier upscale hotel in this market. Its design will appeal to every type of guest, and with 4,500 square feet of meeting and function space, is destined to become a major meeting and social event venue for the area."

The company celebrated the milestone at a Grand Opening ribbon cutting event including: James P. Carroll, founder, Carroll Property Investments, Inc.; Bill Fortier, senior vice president-development group, Hilton Hotels Corporation; Jim Holthouser, senior vice president - brand management, Embassy Suites Hotels; Brad Wymer, general manager; Fort Myers Mayor Jim Humphrey, and Florida Gulf Coast University president Dr. Bill Merwin.

As part of the grand opening festivities, hotel owners Carroll Hotel 21, LLC, along with Embassy Suites Hotels, donated $100,000 to the Resort and Hospitality Management Program at Florida Gulf Coast University. The school, with an enrollment of more than 8,000 students, offers the only resort and spa management course in the region. The funds will be used to help fund the construction of a new classroom specifically for the college's hospitality program, to be named the "Embassy Suites Fort Myers/Estero Lecture Hall."

"We are firm believers in giving back to the community at large and supporting, where possible, the hospitality industry of tomorrow," noted James P. Carroll, founder, Carroll Property Investments, Inc. "With additional funds provided by the State of Florida Major Gifts Trust Fund program, the school will receive a total of $150,000. In addition, we are committed to working closely with the school to provide internships and classroom assistance to further cement our relationship with the university."

Located at 10450 Corkscrew Commons Drive, Estero, Fla., the seven-story Embassy Suites Hotel is minutes from downtown Ft. Myers, Bonita Beach, Florida Gulf Coast University and the Southwest Florida International Airport. The hotel provides a business center; fitness center; 4,500 square feet of meeting space; outdoor pool and spa; complimentary wired and wireless high speed Internet access in each guest room and complimentary shuttle service. Additionally, each two-room suite is equipped with 32-inch flat-panel televisions; signature, oversized desk with ergonomic chair; two phones with data port modems; a wet bar; refrigerator; microwave; and an iron and ironing board. Guests also receive a complimentary, cooked-to-order breakfast each morning and a two-hour Manager's Reception(a) each evening featuring complimentary beverages and light snacks.

"Our (Hilton Hotels Corporation's) current development pipeline is the largest in the industry, with approximately 700 hotels and 100,000 rooms, as of June 30, 2006," Keltner added. "Approximately 90 percent of the hotels in the development pipeline are in the Americas (U.S., Canada, Mexico and South America). In 2006 alone, we expect to add 225 hotels and 36,000 rooms to our system. With our recent acquisition of Hilton International, we see tremendous growth opportunities on a global scale."