SOURCE: Magna Hospitality

September 14, 2006 15:14 ET

Deputy Mayor Dan Doctoroff Officially Opens Holiday Inn Express Brooklyn

Magna Hospitality Celebrated the Opening of the First Hotel in Brooklyn's Burgeoning Park Slope Neighborhood With Ribbon Cutting Ceremony

BROOKLYN, NY -- (MARKET WIRE) -- September 14, 2006 -- Today, Dan Doctoroff, Deputy Mayor for Economic Development and Rebuilding for New York City, and Bob Indeglia, President and CEO of Magna Hospitality, officially opened the new Holiday Inn Express Brooklyn with a ribbon cutting ceremony that included Cristyne Nicholas, President, NYC and Company, and Carolyn Greer, Brooklyn Borough President's Office Director of Tourism.

"This is an exciting day for New York," Dan Doctoroff announced at this morning's ceremony, held at the new property at 625 Union Street in Brooklyn. "There are two million people in Brooklyn with only 1,000 hotel rooms. Magna Hospitality and McSam have done something great for Brooklyn and this new hotel will be a key catalyst for change in this neighborhood."

On behalf of Marty Markowitz, the Brooklyn Borough President, Carolyn Greer awarded a proclamation to Holiday Inn Express Brooklyn, acknowledging Magna Hospitality as one of "those outstanding organizations and individuals who are at the forefront of Brooklyn's economic renaissance."

Holiday Inn Express Brooklyn, which is managed by Magna Hospitality Group under agreement with InterContinental Hotels Group, and owned by McSam Hospitality, is the first and only hotel currently in Brooklyn's Park Slope neighborhood. The new 115-room hotel marks Magna Hospitality's second Holiday Inn Express in New York. The new hotel reflects an increasing demand for new mid-tier hotels in large cities and Magna's development strategy to increase its presence in urban markets it does not currently serve.

"Holiday Inn Express Brooklyn will be a tremendous convenience to the many new businesses in this neighborhood. Now, people conducting business in downtown Brooklyn have a viable option to staying in Manhattan or at airport hotels that are nearly an hour away," said Bob Indeglia. "This new hotel is positioned to serve the community as a source of new jobs and as an affordable place to stay for business travelers and out of town friends and family members. We look forward to serving the many visitors who will come to see Brooklyn and make Holiday Inn Express their hotel of choice."

Holiday Inn Express provides a quality option for value-conscious travelers, who are increasingly making Brooklyn their primary destination in the New York area. Park Slope has been experiencing a renaissance in recent years, with an increasing number of Zagat-rated restaurants, world-class boutiques, businesses and other developments adding to the popularity of the neighborhood. The Holiday Inn Express is ideally situated to service visitors coming to see the Nets play in their new home at the nearby Atlantic Yards development, which will include an arena designed by architect Frank Geary, and travelers on the Crown Princess and Queen Mary 2, both of which will be docking in the new cruise terminal in the borough's Red Hook neighborhood.

In addition to Holiday Inn Express Brooklyn, Magna Hospitality currently operates 18 properties across the country, including the first Holiday Inn Express in New York at 45th Street and Fifth Avenue, and its first addition to the New York boutique hotel market, Hotel 373 Fifth Avenue, slated to open Fall 2006.

Holiday Inn Express is located at 625 Union Street, Brooklyn, NY, 11215. (718) 797-1133 www.expressbrooklyn.com

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