Executive Inn Group Corporation
TSX VENTURE : EIG

Executive Inn Group Corporation

August 02, 2005 14:53 ET

Seattle Partnership Acquires the Pacific Plaza Hotel Seattle; Announces Reposition Plan and Selects Executive Hotels & Resorts as Manager

SEATTLE, WASHINGTON--(CCNMatthews - Aug. 2, 2005) - Executive Inn Group Corporation (TSX VENTURE:EIG) -

Executive Hotel Seattle LLC, a Seattle based partnership led by the Executive Group, announced today that they have acquired the historic Pacific Plaza Hotel located at 4rth Ave and Spring St. in downtown Seattle. Long term management of the 160-room property has been awarded to Vancouver, B.C. based Executive Hotels & Resorts. Executive will immediately commence a major renovation of the hotel's guestrooms and public areas, which in addition to work already completed this year, is anticipated to cost $4.5 million. Upon completion, expected to occur in early 2006, the property will be re-named the Executive Hotel Pacific. The current Seattle's Best Coffee location and popular restaurant Jasmine, currently forming part of the hotel, will be retained and profiled in the new positioning of the hotel.

Salim Sayani, Executive's Chief Executive Officer, stated, "The Pacific Plaza represents an excellent opportunity to renovate and reposition an under performing property back into one of Seattle's premier business hotels. The property will benefit from Executive's brand profile, strong presence in the West Coast market and global distribution network. We look forward to having this hotel take advantage of its very strong location in the heart of Seattle's business district."

About Executive Hotels & Resorts

Executive Hotels and Resorts is a Vancouver based hotel management company operating hotels under its own brand in the upper segment of business, resort and boutique hotels. Services provided include hotel management and franchise affiliation, seamless worldwide GDS, Internet and Toll Free reservations, National and Property Specific Sales and Marketing programs and state-of-the-art Loyalty Rewards programs. The company currently has 17 hotels with over 2,500 rooms open across Canada and the Western U.S.

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