Construction Tops-off on the New Renaissance Boston Waterfront

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. October 14, 2008

BOSTOB, MA, September 29, 2006. Renaissance Hotels & Resorts, Massport, the Boston Redevelopment Authority and Payton Construction Company, today celebrated the topping-off of the new Renaissance Boston Waterfront Hotel, which will open in December 2007. The hotel will be a sleek and dynamic addition to the exciting South Boston Waterfront, stylishly reflecting the vibrancy and aqua-elegance of the ocean which is directly across the street. Today's celebration acknowledges the construction of the final floor of the hotel and the work of the project's tradespeople.

Industry executives and city officials, were joined by Mark Maloney, Director, Boston Redevelopment Authority (BRA); Michael Leone, Director, Port of Boston, Massport; and Richard Morse, Regional VP, Renaissance Hotels, along with several other political leaders to commemorate the occasion.

Those affiliated with the project signed a 25-foot steel beam which was then raised to officially "top off" the hotel's steel construction. As is customary with a traditional topping off, the American flag and a pine tree were perched at both ends of the steel beam. This tradition of placing a small tree on the building's highest beam celebrates the workers' pride in their accomplishment, good luck for the building and overall general excitement for a job well done.

"The Renaissance Hotel is a world-class project that is an investment representative of Boston's bright future - from the strength of our economy to the growth and promise of the City's Waterfront," said BRA director, Mark Maloney. "This hotel will contribute new jobs to the community, it will serve as a destination for visitors and business travelers alike, and it will be the latest addition to Boston's hottest new neighborhood."

"With great partners like Renaissance Hotels & Resorts, we are achieving the vision that Mayor Menino, the BRA, Massport and others laid out for a our new community here in South Boston," added Massport's Michael Leone, Director, Port of Boston.

"We at Renaissance Hotels & Resorts are excited to introduce our brand to Boston," said Richard Morse, Regional VP, Renaissance Hotels. "The South Boston Waterfront provides excellent opportunity for development, with its water and city views, and its proximity to the new BCEC [Boston Convention & Exhibition Center], the financial district and Logan Airport. We are confident that Boston will embrace the Renaissance brand, with its distinctive contemporary style and upscale service. We want to extend a heartfelt thank you to Mayor Menino, Massport and the Boston Redevelopment Authority for their continued support and partnership during this exciting project."

"We couldn't be more delighted to be topping-off this exciting project," concluded William B. Payton, President of Payton Construction, the project's general contractor. "Our team was happy to make this project a reality, and to build this hotel in our own backyard was even more rewarding. It's an exciting day for all involved in this project."