Marcus Hotels Press > Hotel Management Press Releases
12.01.15 |
Andrea Foster Joins Marcus Hotels & Resorts and MCS Capital LLC as Senior Vice President, Development Andrea Foster Marcus® Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS), today announced that Andrea Foster has been named senior vice president, development for Marcus Hotels & Resorts and MCS Capital LLC. Foster, a 20-year hospitality veteran and lodging industry expert, will be responsible for marketing the company’s hotel management capabilities and identifying and securing potential acquisition, joint venture and third-party management opportunities for the company. Foster joins Marcus Hotels & Resorts and MCS Capital from PKF Consulting|CBRE Hotels, where she most recently served as managing director, leading PKF’s Boston office and overseeing its national Spa Advisory Practice. From 2006-2011, she served as vice president, marketing and business development for Miraval Holdings, a top-rated destination spa resort and healthy lifestyle brand. Foster began working with PKF|CBRE in Los Angeles in 2002 where she was responsible for hospitality real estate ventures and feasibility analysis. She returned to PKF|CBRE in 2011. Her career also includes operations management positions with boutique-size branded and independent hotel properties on the East and West coasts. “Andrea’s extensive experience in operations, business development, marketing, feasibility and valuation, as well as hotel spa and wellness, is an excellent addition to our company. Andrea will work closely with William H. Reynolds, Jr., senior managing director of MCS Capital, in pursuing opportunities to further expand our hotel portfolio by adding high-quality management contracts and sourcing potential hotel investment opportunities,” said Joseph Khairallah, chief operating officer of Marcus Hotels & Resorts. “We look forward to continuing to expand the presence of Marcus Hotels & Resorts as an operator of unique and high quality hotels nationally.” During her career, Foster has worked on a variety of assignments involving market positioning and repositioning, feasibility analysis, appraisals, operational analysis, sales and marketing analysis, spa studies, impact studies and tourism studies. She has become a key voice at hotel investment conferences and was the publisher of PKF’s Trends® in the Hotel Spa Industry report. Foster is president of the Cornell Hotel Society New England Chapter, industry advisor to Cornell University Spa Association, scholarship chair for ISPA (the International Spa Association), a member of the NEREJ (New England Real Estate Journal) Hotel Advisory Board, an active member of CREW (Commercial Real Estate Women) Boston, and is a regular speaker at the hospitality schools at Cornell and Boston University. “We are fortunate to have a leading expert of Andrea’s caliber join our development team. Her knowledge of the industry and her many professional relationships and contacts will be a significant asset to Marcus Hotels & Resorts and MCS Capital as we pursue growth opportunities,” said William H. Reynolds, Jr. Foster, originally from Maine, is a graduate of Cornell University’s School of Hotel Administration with a concentration in real estate finance and operations. Foster can be contacted at andreafoster@marcushotels.com. For more information on the latest news and updates from Marcus Hotels & Resorts, please visit: https://media.marcushotels.com. About Marcus Hotels & Resorts About MCS Capital LLC About The Marcus Corporation # # #
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11.16.15 |
Marcus Hotels & Resorts Properties Named to Condé Nast Traveler’s Readers’ Choice Awards List of Best HotelsSkirvin Hilton Hotel, The Hotel Zamora and The Garland named Best Hotels in the U.S.
Milwaukee, Wis., November 16, 2015. . . . . Marcus® Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS), today announced that three of its owned and/or managed properties were named to Condé Nast Traveler’s Readers’ Choice Awards list of Best Hotels in the U.S. The Skirvin Hilton Hotel in Oklahoma City, Okla., The Hotel Zamora in St. Pete Beach, Fla., and The Garland in North Hollywood, Calif., were each recognized as top properties in their respective regions. The 2015 Condé Nast Traveler’s Readers’ Choice Awards were based on a survey with over 128,000 responses. Often considered one of the most trusted “Best of the Best” travel industry awards, Condé Nast Traveler’s 28th annual Readers’ Choice Awards ranks the best hotels, resorts, cities, islands, airlines and cruise lines in the world. “Marcus Hotels & Resorts is honored to have three of our properties recognized by this leading publication,” said Joseph Khairallah, chief operating officer of Marcus Hotels & Resorts. “Being named a top hotel is a testament to the quality of service we provide our guests. I would like to thank the staff at each of these hotels for all of the hard work and dedication they put into exceeding customer expectations every day, and making these hotels world-class properties.” The Condé Nast Traveler’s Readers’ Choice Awards are featured in the November issue of the publication. Marcus Hotels & Resorts owns and manages The Skirvin Hilton Hotel, is a minority owner and manages the Hotel Zamora and manages The Garland. For more information on the latest news and updates from Marcus Hotels & Resorts, please visit: https://media.marcushotels.com. About Marcus Hotels & Resorts # # #
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11.12.15 |
Marcus Hotels & Resorts Announces Key Leadership Appointments in Minneapolis, Chicago, Milwaukee and Las Vegas
Milwaukee, Wis., November 12, 2015. . . . .Marcus® Hotels & Resorts, a nationally recognized hotel management company and division of The Marcus Corporation (NYSE: MCS), today announced leadership appointments in Minneapolis, Chicago, Milwaukee and Las Vegas. Jim Waldvogel has been named managing director for the Hilton Minneapolis/Bloomington hotel and Crowne Plaza Minneapolis Northstar Downtown. Waldvogel previously served as area vice president and general manager of the Hilton Milwaukee City Center. Waldvogel joined Marcus Hotels & Resorts in 1997 as general manager of the Crowne Plaza Northstar Downtown and served as general manager of the Hilton Minneapolis/Bloomington from 2007 to 2014. Chris Zarek has been appointed general manager of the AC Hotel Chicago Downtown. Prior to this position, he served as general manager of the Hilton Minneapolis/Bloomington hotel. Zarek joined Marcus Hotels & Resorts in 2008 as human resources director at the Hilton Milwaukee City Center. He has held several leadership roles within the company, including regional HR director for Milwaukee, director of food and beverage at the Hilton Milwaukee City Center and director of operations at the Skirvin Hilton Hotel in Oklahoma City, Okla. Mahesh Reddy has been appointed general manager of the Hilton Milwaukee City Center. Reddy previously served as general manager of the Platinum Hotel & Spa in Las Vegas, Nev. He joined Marcus Hotels & Resorts in 2000 where he held leadership roles at the Hilton Milwaukee City Center for six years. In 2012, he was named general manager of the Westin Columbus and appointed general manager of the Platinum Hotel & Spa in 2013. Mary Orlando has been named general manager of the Platinum Hotel & Spa in Las Vegas, Nev. Previously she served as general manager of the AC Hotel Chicago Downtown and oversaw the transformation and rebranding of the property, Marriott’s newest lifestyle brand which opened in June, 2015. Orlando joined Marcus Hotels & Resorts in 2004 as general manager of Timber Ridge Lodge & Waterpark in Lake Geneva, Wis. and served as general manager of the company’s Chicago property from 2008 to 2015. “This is an exciting time for Marcus Hotels & Resorts and we are confident these leaders will make significant contributions to the company, their hotels and the communities in which they serve,” said Joseph Khairallah, chief operating officer for Marcus Hotels & Resorts. For more information on the latest news and updates from Marcus Hotels & Resorts, please visit: https://media.marcushotels.com. About Marcus Hotels & Resorts |
10.28.15 |
Marcus Hotels & Resorts Announces Promotions to Celebrate The Marcus Corporation’s 80th AnniversaryMilwaukee, Wis., October 27, 2015. . . . Marcus® Hotels & Resorts today announced special deals and offers in celebration of the 80th anniversary of its parent company, The Marcus Corporation (NYSE: MCS). Founded on November 1, 1935 by Ben Marcus with the purchase of a single movie theatre in Ripon, Wisconsin, today The Marcus Corporation is a leader in the lodging and entertainment industries. For 80 years, a hallmark of The Marcus Corporation has been its dedication to creating memorable experiences for its guests and upholding its philosophy of “People Pleasing People.” The Marcus Corporation’s emphasis on quality, value and exceptional customer service has earned the company a reputation for excellence in every field it has entered. To celebrate 80 years in business, Marcus Hotels & Resorts is offering the following anniversary deals and discounts at the properties indicated below: Grand Geneva Resort & Spa (GrandGeneva.com) in Lake Geneva, Wisconsin, a leading resort with more than 1,300 acres and enjoyment for all seasons and all ages Heidel House Resort & Spa (HeidelHouse.com), located in scenic Green Lake Wisconsin, just minutes from The Marcus Corporation’s first business in Ripon, Wisconsin AC Hotel Chicago Downtown (ACHotelChicago.com), the new and stylish lifestyle hotel by Marriott that offers European flair and convenience near Michigan Avenue The Pfister Hotel (PfisterHotel.com) and the Hilton Milwaukee City Center (HiltonMilwaukee.com), the two top, AAA Four Diamond rated hotels in Milwaukee, Wisconsin For more information on the latest news and updates from Marcus Hotels & Resorts, please visit: https://media.marcushotels.com. About Marcus Hotels & Resorts *Restrictions and blackout dates apply. Offers based on availability. Does not include gratuity. See website for details. # # # |
10.28.15 |
Marcus Hotels & Resorts Announces Executive AppointmentsMARCUS® HOTELS & RESORTS ANNOUNCES EXECUTIVE APPOINTMENTS
Tom Mason promoted to senior vice president of operations; Steve Magnuson returns as managing director of the Grand Geneva Resort & Spa and Timber Ridge Lodge & Waterpark Milwaukee, Wis., October 22, 2015. . . . .Marcus® Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS), today announced that Tom Mason has been promoted to senior vice president of operations. The company also announced that Steve Magnuson has returned as managing director of the Grand Geneva Resort & Spa and Timber Ridge Lodge & Waterpark in Lake Geneva, Wis. Mason joined Marcus Hotels & Resorts in 2014 as managing director of the Grand Geneva Resort & Spa. He was promoted to area vice president that same year, adding the additional responsibilities of overseeing the company’s Timber Ridge Lodge & Waterpark and the company’s downtown Chicago property, which is now the AC Hotel Chicago Downtown. In this role, Mason oversaw the conversion of the Chicago property to one of the first AC Hotels by Marriott in the U.S., which opened in June 2015. Mason joined Marcus Hotels & Resorts with over 30 years of hospitality experience, including serving in several leadership positions with Hyatt Hotels Corporation. Magnuson began his career with Marcus Hotels & Resorts in 1994 as general manager of the Grand Geneva Resort & Spa. In 1998 he was promoted to area vice president where he was instrumental in launching Timber Ridge Lodge & Waterpark and Orange Lake Vacation Club in Lake Geneva, Wis. In 2014 he joined Kalahari Resorts as vice president and managing director to successfully open one of America’s largest waterparks in Pocono Mountains, Penn. “Tom Mason has done an outstanding job in overseeing several of our largest properties and renovations, and will be a valuable asset to our executive management team. We are also very excited to welcome Steve Magnuson back to the Marcus Hotels family. Steve has been a valued member of our management team for 20 years and has the operations excellence, leadership skills and vision to build on the Grand Geneva Resort & Spa’s strong position as a leading Midwest travel destination. We congratulate both Tom and Steve on their new positions,” said Joseph Khairallah, chief operating officer of Marcus Hotels & Resorts. For more information on the latest news and updates from Marcus Hotels & Resorts, please visit: https://media.marcushotels.com. About Marcus Hotels & Resorts # # # |
10.16.15 |
The Marcus Corporation Completes Sale of Hotel Phillips in Kansas City, Mo.Milwaukee, Wis., Oct. 16, 2015….. The Marcus Corporation (NYSE: MCS) today announced it has completed the previously announced sale of the Hotel Phillips in Kansas City, Mo. to an affiliate of Chicago-based Arbor Lodging Partners. Terms of the transaction were not disclosed. The sale is consistent with the company’s overall corporate strategy of constantly evaluating all of its owned hotels to ensure it is maximizing shareholder value, while also focusing on growth through new management contracts. The Marcus Corporation successfully owned and managed the 217-room Hotel Phillips for the past 14 years. Jameson and Company of Downers Grove, Ill., in cooperation with HotelBrokerOne, assisted The Marcus Corporation in the transaction. About The Marcus Corporation About Arbor Lodging Partners Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we “believe,” “anticipate,” “expect” or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (3) the effects on our occupancy and room rates of the relative industry supply of available rooms at comparable lodging facilities in our markets; (4) the effects of competitive conditions in our markets; (5) our ability to achieve expected benefits and performance from our strategic initiatives and acquisitions; (6) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, impairment losses, and preopening and start-up costs due to the capital intensive nature of our businesses; (7) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (8) our ability to identify properties to acquire, develop and/or manage and the continuing availability of funds for such development; and (9) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States or other incidents of violence in public venues such as hotels and movie theatres. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. # # #
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09.29.15 |
Marcus Restaurant Group Wins Standard of Excellence Award for New Website in Web Marketing Association’s 2015 WebAwards Milwaukee, Wis., September 17, 2015. . . . .Marcus Restaurant Group, a leading developer and operator of distinctive food and beverage experiences nationwide, was a Standard of Excellence winner in the restaurant category for its new website in the Web Marketing Association’s 2015 WebAwards. This year’s web development awards included over 1, 500 entries from 40 countries in 96 industry categories. Entries were judged on design, copywriting, innovation, content, interactivity, navigation and use of technology. The WebAwards competition highlights entries from around the world that show impressive creativity and functionality. “As Marcus Restaurant Group continues to grow, we needed to create a website that accommodated all our unique and creative restaurant concepts around the U.S., in one easy to navigate place. Our design focused on large, colorful images of our creative food concepts, and bright, vibrant boxes highlighting each of our restaurant brands. Our new website not only includes information on each of our restaurants, but also information on special events and our popular ‘Straight to Your Plate’ program, which highlights a monthly local ingredient and purveyors and suppliers who are doing an outstanding job in sourcing unique and interesting foods. Guests and customers really love learning about the purveyors, the history of their business and the diverse dishes our chefs create, and now we are able to better share those stories on our new website,” said Peggy Williams-Smith, vice president of food and beverage. Williams-Smith added, “The ‘Straight to Your Plate’ program has been very successful among guests and shows that hotel restaurants are real players in the culinary scene. The program is a win for all – it provides a perfect combination of great food with premium ingredients, mixed with talented chefs, wonderful restaurants and stellar Wisconsin-based purveyors.” For more information on the “Straight to Your Plate” program and to view videos of the latest ingredients, please visit: http://straighttoyourplate.com. For more information on Marcus Restaurant Group, please visit: www.marcusrestaurants.com. For more information on the WebAwards, please visit: http://www.webaward.org. About Marcus Restaurant Group About Marcus Hotels & Resorts # # # |
09.01.15 |
Marcus Hotels & Resorts Names Gerald Rappaport General Manager of the Skirvin Hilton HotelMilwaukee, Wis., September 1, 2015. . . . .Marcus® Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS), today announced that Gerald Rappaport has been appointed general manager of the Skirvin Hilton Hotel in Oklahoma City, Okla.  With more than 24 years of hospitality experience with Marcus Hotels & Resorts, Rappaport is an accomplished hotel operations leader and most recently served as general manager of the Hotel Phillips in Kansas City, Mo. Prior to that position, he was general manager of the company’s Timber Ridge Lodge & Waterpark in Lake Geneva, Wis. and served as interim general manager of the Grand Geneva Resort & Spa. During his time with Marcus Hotels & Resorts, he has also served as general manager of the Hilton Milwaukee and the InterContinental Milwaukee. The Skirvin Hilton Hotel is the sixth hotel he has managed for Marcus Hotels & Resorts. His career also includes serving as general manager of the Hyatt Regency Milwaukee and the Sheraton Brookfield in Brookfield, Wis. “Gerald has been a very capable leader in our organization and in the hospitality industry, overseeing renovations and operations at major properties. He is very involved in the communities in which he serves and is looking forward to his move to Oklahoma City. We know he will be a tremendous asset to the Skirvin Hilton Hotel in carrying on its tradition as the premier hotel in Oklahoma City,” said Joseph Khairallah, chief operating officer of Marcus Hotels & Resorts. Rappaport attended Southern Illinois University in Carbondale, Illinois and is a Certified Hotel Administrator (CHA). Most recently, he served as a director of the Downtown Council/Community Rappaport and his wife are relocating to Oklahoma City in early September. For more information on the latest news and updates from Marcus Hotels & Resorts, please visit: https://media.marcushotels.com. About The Skirvin Hilton Hotel The hotel features 225 luxuriously appointed guest rooms, including 20 one-bedroom suites, one presidential suite and 18,500 square feet of premier meeting and pre-function space. It is home to the upscale Park Avenue Grill restaurant and Red Piano lounge. In 2013, the Skirvin was named one of the best hotel meeting destinations and received a prestigious Pinnacle Award from Successful Meetings magazine. The hotel was also once again recognized as one of the 2015 Best Hotels in the USA by U.S. News & World Report, finishing as the #1 Hotel in Oklahoma City and the State of Oklahoma. The hotel remains on the National Register of Historic Places. For more information, please visit www.skirvinhilton.com and follow the company on Facebook and Twitter (@SkirvinHiltonOK). About Marcus Hotels & Resorts # # # |
08.13.15 |
The Pfister Hotel and Heidel House Resort & Spa Receive Five Awards in 21st Annual Communicator AwardsHeidel House Resort & Spa website, Pfister 120th anniversary book, new Pfister website and Pfister Augmented Reality Art Tour app all recognized in leading international awards program Milwaukee, Wis., August 12, 2015. . . . . Marcus® Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS), today announced that its owned and managed property, The Pfister Hotel, and its managed property, Heidel House Resort & Spa, won a combined total of five awards from the Communicator Awards, a leading international awards program recognizing big ideas in marketing and communications. This year’s Communicator Awards, judged by the Academy of Interactive & Visual Arts, garnered more than 6,000 entries from firms and agencies around the world. Awards of Excellence were given to those entrants whose ability to communicate positions them as the best in the field. Awards of Distinction were presented to projects that exceed industry standards in quality and achievement. Gold Awards of Excellence were won for: Silver Awards of Distinction were won for: “Our corporate marketing and technology teams continue to focus on content creation and offering engaging experiences for our customers when visiting all of our properties throughout the U.S. We successfully create unique experiences from not only a hotel management company perspective, but consider ourselves hoteliers that strive to touch our guests in meaningful ways,” said Christine Beuchert, senior director, marketing and ecommerce strategy for Marcus Hotels & Resorts. The Heidel House Resort & Spa website, http://www.heidelhouse.com, is a responsive site that showcases the lakefront property’s beautiful spaces and year-round activities and programming. Within three months of the site’s launch, there was a 330% increase in website visitors from the Chicago market alone, and mobile users were actively engaging in the new site, as evidenced by a 1,700% increase in mobile visits. The Pfister Hotel 120th Anniversary book, “The History, Art & Imagery of the Pfister Hotel,” captures the timeless beauty and elegance of the world-class hotel through breathtaking original photography by award-winning Milwaukee photographer Jay Filter and stories written by best-selling, award-winning writer Tom Jordan. The Pfister Hotel website, http://www.thepfisterhotel.com/, is a responsive website designed with impactful imagery, a modern look and feel, and easy navigation for online reservations, amenities, dining options and guestroom features. The Pfister Hotel Augmented Reality Art Tour app, http://www.thepfisterhotel.com/art-tour, is among the first of its kind in the hotel industry. The self-guided, digital, full-motion app allows users to virtually experience the largest collection of Victorian art housed by any hotel in the world. For more information, visit the Communicator Awards online: http://www.communicatorawards.com/. For the latest news and updates from Marcus Hotels & Resorts, please visit https://media.marcushotels.com. About Marcus Hotels & Resorts # # # |
07.29.15 |
The Marcus Corporation Announces Agreement to Sell the Hotel Phillips in Kansas City, Mo.The Marcus Corporation (NYSE: MCS) today announced it has signed an agreement for the sale of the Hotel Phillips in Kansas City, Mo. to an affiliate of Chicago-based Arbor Lodging Partners, a national owner and manager of hotels that makes both debt and equity investments in hospitality properties. Terms of the transaction were not disclosed.
The Marcus Corporation has successfully owned and managed the 217-room Hotel Phillips for the past 14 years. Shortly after purchasing the historic hotel, the company completed an extensive renovation and added new guest amenities. A landmark in downtown Kansas City, the hotel also offers approximately 11,000 square feet of flexible meeting and pre-function space, a restaurant and a lounge.
“We consider this a highly strategic opportunity to acquire this beautiful historic hotel in Kansas City and to contribute to the future growth of the downtown area. The Hotel Phillips will be an excellent addition to our growing portfolio of many types of hotels nationwide,” said Vamsi Bonthala, chief executive officer of Arbor Lodging Partners. “As with other historic properties in our portfolio, we are planning a comprehensive renovation and the hotel will be managed by NVN Hotels, our hotel management affiliate.”
“The decision to sell the Hotel Phillips is consistent with our overall corporate strategy of constantly evaluating each of our owned hotels to ensure we are maximizing shareholder value, while also focusing on growth through new management contracts,” said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation.
The sale and transition of management is expected to occur on or about September 1, 2015.
About The Marcus Corporation Headquartered in Milwaukee, Wisconsin, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. The Marcus Corporation’s theatre division, Marcus Theatres®, currently owns or manages 681 screens at 55 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio. Following the sale of the Hotel Phillips, the company’s lodging division, Marcus® Hotels & Resorts, will own and/or manage 19 hotels, resorts and other properties in 10 states. For more information, visit the company’s web site at www.marcuscorp.com.
About Arbor Lodging Partners Arbor Lodging Partners is a Chicago-based national owner and operator of hotels. The company was founded in 2005 with the goal of uniting the best practices of enterprising hotel operators and sophisticated institutional investors to effectively underwrite and execute investments in the lodging space. Arbor Lodging Partners makes investments in hotels, acquires loans secured by hotels, and, through its affiliate NVN Hotels, manages operations for its own hotels and those owned by third-parties. To learn more about Arbor Lodging Partners visit http://www.arborlodging.com. To learn more about NVN Hotels, visit http://www.nvnhotels.com.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we “believe,” “anticipate,” “expect” or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (3) the effects on our occupancy and room rates of the relative industry supply of available rooms at comparable lodging facilities in our markets; (4) the effects of competitive conditions in our markets; (5) our ability to achieve expected benefits and performance from our strategic initiatives and acquisitions; (6) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, impairment losses, and preopening and start-up costs due to the capital intensive nature of our businesses; (7) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (8) our ability to identify properties to acquire, develop and/or manage and the continuing availability of funds for such development; and (9) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States or incidents such as the recent tragedy in a movie theatre in Louisiana.. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. ###
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