Charlestown Management Hotels Relaunches Under New Name,

Charlestowne Hotels, Inc.will offer more streamlined management services

. October 14, 2008

CHARLESTON, SC, September 20, 2006. The company previously known as Charlestown Management Hotels today announced that it has reorganized operations and relaunched under the new name Charlestowne Hotels, Inc. The newly structured Charlestowne Hotels, Inc., which owns and/or operates 13 hospitality properties in North and South Carolina including the Holiday Inn Hotel & Suites North Myrtle Beach, the Shem Creek Inn in Mt. Pleasant and the historic Andrew Pinckney Inn in Charleston, will merge its management and ownership functions to create a more cohesive and streamlined operation. In turn, the changes are expected to provide more efficient and profitable management systems for property owners and better experiences overall for hotel guests.

'The changes at Charlestowne Hotels, Inc. are definitely going to make a positive impact on the properties we manage and on the local hotel community,' says Everett L. Smith Jr., the company's founder, owner and president. 'We fully expect that we will be able to facilitate the growth of new business and positively impact the local hospitality industry, particularly in Charleston.'

As a result of the transition, the following people were appointed to new offices: Michael W. Tall, senior vice president; Jacqueline L. Lang, vice president - comptroller; David W. Nimmo, vice president - operations; and Terrill W. Carter, vice president - operations. Smith will continue to serve as president. Additionally, Charlestowne Hotels, Inc. has a developed a new logo (shown above) and launched a new website (www.charlestownehotels.com) to support the new brand.

Charlestowne Hotels, Inc. manages, among others, several of Charleston's top properties including The HarbourView Inn, a AAA 4-diamond hotel, and the French Quarter Inn at Market Square, also a AAA 4-diamond hotel which was named the No. 1 luxury hotel in the United States and the No. 10 luxury hotel in the world by the 2005 Trip Advisor Travelers' Choice Awards.

Operations at the 13 properties will not be interrupted as a result of this change; rather, properties can expect to see improvements in strategic decision-making, communications, financial systems and operations processes almost immediately.

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