Marcus Hotels and Resorts is experienced in historic renovations and historic tax credits, two main components of the Skirvin Hotel project. The company also has extensive experience in public-private partnerships. "We have a passion for historic hotels," said Bill Otto, president of Marcus Hotels and Resorts. "The Skirvin Hotel is a grand hotel in the tradition of other historic hotels operated by Marcus Hotels and Resorts, including the Pfister Hotel in Milwaukee, the Hotel Phillips in Kansas City and the Hilton Milwaukee City Center. We are very excited about our involvement with the grand dame of Oklahoma City. We believe the restored Hilton Skirvin will be a tremendous addition to our portfolio and a welcome sight for residents of Oklahoma City when they see the hotel restored to its former glory."

Skirvin Partners LLC won the contract for the restoration and reuse of the Skirvin Hotel in July 2003, and a final redevelopment plan was recently approved by the city council. In addition to Marcus Hotels and Resorts, the joint venture equity partners in the Skirvin project include hotel franchise and public relations consultant John Weeman of Partners in Development. The project architect is Kahler Slater Architects, a leading design firm for historic hotel restorations.

John Weeman, president of Partners in Development (PID), managed development for Hilton Hotels Corporation in several capacities for many years. Weeman's company assembles equity and identifies appropriate players for development, operation and ownership roles in developments it undertakes.

"The Skirvin Hotel restoration and preservation effort in Oklahoma City demonstrates what can be accomplished when the public and private sectors work together," Weeman said.

The Skirvin Hotel first opened its doors in 1911 with two, 10-story towers containing 224 rooms. In 1930, a third wing was added, raising the structure to 14 stories and increasing capacity to 525 rooms. The new $46.4 million project calls for restoration of the original exterior finish, installation of historically accurate windows, reconfigured guest rooms and new guest elevators. The hotel will feature an elegant lobby and restaurants, as well as state-of-the-art meeting rooms and restoration of the fourteenth-floor Venetian Room. Whenever possible, historical elements such as moldings, tiles and ceiling treatments will be incorporated into the design.

Restoration work is expected to be completed in the spring of 2006. The new Hilton Skirvin will support the Cox Business Services Convention Center in Oklahoma City with 235 rooms and 25,000 square-feet of hotel meeting and pre-function space.

Headquartered in Milwaukee, Wis., The Marcus Corporation is a leader in the lodging and entertainment industries. The company's limited-service lodging division operates or franchises 178 Baymont Inns & Suites in 32 states, seven Woodfield Suites in Illinois, Wisconsin, Colorado, Ohio and Texas and one Budgetel Inn in Wisconsin. Marcus Theatres owns or manages 491 screens at 46 locations in Wisconsin, Ohio, Illinois and Minnesota, and one family entertainment center in Wisconsin. Marcus Hotels and Resorts owns or manages 11 hotels and resorts in Wisconsin, California, Minnesota, Missouri and Texas, and one vacation club in Wisconsin. For more information, visit the company's Web site at www.marcuscorp.com.

SOURCE: Marcus Hotels and Resorts

Marcus Hotels and Resorts
Peter Rockwood (Media), 414-905-1567
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Douglas A. Neis (Investors), 414-905-1100