Parc 55 Hotel marks 25th anniversary

SAN FRANCISCO (February 25, 2008) - Rob Gauthier, managing director of Parc 55 Hotel San Francisco, today announced that the hotel has begun a comprehensive, $30-million renovation that will include all 1,010 rooms, 18 suites, lobby, Club Level facilities, and meeting and event space, which will increase to almost 30,000 square feet.

Parc 55 Hotel, which celebrates its 25th anniversary this year, is ideally located for both leisure and business travelers in the heart of San Francisco's best neighborhood for shopping, fine dining and theatre, with easy access to the city's Financial District and Moscone Center, the city's premier convention venue. Offering an exceptional level of service rarely seen in large hotels, Parc 55 Hotel is a proud recipient of AAA's prestigious Four Diamond award, an honor it has earned for the ninth consecutive year.

As part of Parc 55's renovation, its reception desk will move from the street level to the second floor and its atrium will be partially enclosed to increase its meeting and event space. All of the hotel's rooms and suites boast generous bay windows that frame panoramic views of San Francisco. Parc 55 Hotel will remain open during the renovation, which has been carefully planned and will be executed in stages so that guests will not be disturbed.

"We're very excited about giving this grand hotel a make-over on her 25th anniversary," said Gauthier, the hotel's managing director. "Parc 55 Hotel enjoys a very loyal following of business and leisure travelers who enjoy a high level of service in a prime downtown location. We feel confident that our existing clients as well as new guests will enjoy the many new touches and that first-time guests will be delighted by the contemporary decor. We're especially excited about the expanded meeting and event space which will offer even more flexibility for meeting planners. We welcome our loyal guests and newcomers to enjoy the fresh, updated touches at Parc 55 Hotel San Francisco."

All of the hotel's guest rooms and suites have been redesigned and refurnished, from flat-panel TVs to high-quality linens. There is both wireless and wired Internet access throughout. As an example of the care given to accommodating the needs of the business traveler, each room has been fitted with a "Jack Pack," a conveniently located power strip affixed to the side of the desk, providing outlets to recharge and connect cell phones, digital cameras, laptops, PDAs, and other electrical devises, saving guests from the all-too-familiar exercise of searching the room for electrical hook-ups.

Gensler, a design firm in the forefront of green and sustainable architecture, has created a new look and color palette inspired by the city's welcoming ambiance and coastal charms, a gentle and soothing buffer from the lively sidewalks just outside the hotel's doors. Contemporary, elegant, relaxed and refined, Parc 55 Hotel's new decor bespeaks understated warmth with rich hues of brown, beige, copper and blue.

Parc 55 Hotel is one of the few San Francisco hotels that have earned Energy Star designations from both the U.S. Environmental Protection Agency and the U.S. Department of Energy. In addition to extensive recycling, kitchen composting, and other green initiatives, all of the hotel's toilets are being replaced with low flow models that exceed California's standards for energy efficiency and reduce the hotel's water usage by 72%.

The top six floors of the Parc 55 comprise the hotel's Club Level. Club Level guests have exclusive access to the Club Lounge, where they can enjoy complimentary breakfast buffet, afternoon tea and appetizers, and cocktails from happy hour through 10 p.m. Completed during the initial phase of the Parc 55's renovation, the Club Lounge and 24-hour Fitness Center have both been significantly updated. Furnished with comfortable contemporary seating, the setting in the Club Lounge is both elegant and relaxing. The newly renovated 24-hour Fitness Center offers an extensive variety of cardio equipment, weight machines and free weights for health-conscious business or leisure travelers. A private massage room has also been added.

Parc 55 Hotel is a short stroll from San Francisco's world-renowned Union Square, the iconic address of Macy's, Saks Fifth Avenue, Neiman Marcus and dozens of stylish boutiques. Parc 55 Hotel is also half a block from Westfield San Francisco Centre, home of the second-largest Bloomingdale's in the country, and just a block from the city's major-production theatre district.

Parc 55 Hotel has also long been popular for its literally steps-away proximity to BART, the San Francisco Bay Area's rapid transit system. Business travelers with appointments in Oakland, Emeryville, South San Francisco or other outlying cities can get to their meetings easily, without cab or car rental costs, and zip back to the hotel in plenty of time to enjoy the city's vibrant dining and nightlife.

For more information about Parc 55 Hotel please visit www.parc55hotel.com or call (800) 595-0507.

Parc 55 is owned and operated by Highgate Holdings in partnership with Rockpoint Group, L.L.C.

About Highgate Holdings

Highgate Holdings is a privately held investment firm headquartered in Dallas, Texas, with offices in New York City and Vancouver, British Columbia, Canada.

About Rockpoint Group, L.L.C.

Rockpoint Group, L.L.C. is a global investment management firm that targets a broad range of real estate-related investments across many asset classes and geographic regions. Rockpoint was formed in 2003 by Patrick K. Fox, Keith B. Gelb, Gregory J. Hartman, Jonathan H. Paul and William H. Walton, who have been investing together for more than ten years and have been instrumental in investing more than $5 billion of equity in a wide range of real estate investments representing a total capitalization of approximately $24 billion.

Media contacts: Casey Shaughnessy, Amie Rubenstein, Tish Gallegos or Melissa Howell at Glodow Nead Communications, (415) 394-6500.

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