LTD Management Opens Residence Inn By Marriott Newport News Airport

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A new 125-room Residence Inn by Marriott hotel has opened today in Newport News, VA. The Residence Inn Newport News, located at 531 St. Johns Road, accessible to Norfolk International Airport and the Newport News/Williamsburg International Airport, provides a haven for wary business travelers and a vacation getaway for families and groups. LTD Management Company, L.L.C., based in Chesapeake, has developed and will own and manage the hotel.

We are delighted to offer the area's first upper tier extended stay hotel product. The Residence Inn by Marriott is the world's leading brand that offers the increased space and amenities required by extended stay guests

A new 125-room Residence Inn by Marriott hotel has opened today in Newport News, VA. The Residence Inn Newport News, located at 531 St. Johns Road, accessible to Norfolk International Airport and the Newport News/Williamsburg International Airport, provides a haven for wary business travelers and a vacation getaway for families and groups. LTD Management Company, L.L.C., based in Chesapeake, has developed and will own and manage the hotel.

The Residence Inn Newport News Airport offers spacious suites with full kitchens, as well as distinct living, working and sleeping areas, making it ideal for extended stay and short-term housing. In the morning guests are treated to a complimentary "Hometouch" breakfast, and the nightly manager's reception offers them the opportunity to end their day socializing with others.

Guest suites in Residence Inn hotels are 50% larger than traditional hotel rooms and provide luxury bedding with an array of in-room amenities. The hotel also features an indoor swimming pool, whirlpool spa and exercise room.

"We are delighted to offer the area's first upper tier extended stay hotel product. The Residence Inn by Marriott is the world's leading brand that offers the increased space and amenities required by extended stay guests," said Malay Thakkar, Managing Partner for LTD. "The hotel is also located in a premier area of Newport News that offers a variety of dining and entertainment options for both business and vacation travelers."

Travelers looking to catch up on work can take advantage of the business center or enjoy an array of work efficient in-room features and complimentary high-speed Internet access throughout the hotel. Guests can also take advantage of grocery shopping services and are welcome to bring their pets.

For more information or reservations, call the Residence Inn Newport News at 757-842-6214or visit the web site at http://www.marriott.com/phfnn.

LTD Management Company, L.L.C., is an award-winning hotel development and management group headquartered in Chesapeake, VA. Since its inception in 1983, LTD has developed a reputation for creating an atmosphere "where distinction reigns." The company currently operates 24 properties throughout Virginia and Maryland, with 9 more hotels in the development pipeline and scheduled to open within the next two years. At the 2007 Marriott Owners Conference, LTD walked away with the Spirit to Serve and Partnership Circle awards, competing with 400 top hotel management companies for these distinctions. With the highest possible standards in mind, LTD prides itself with developing quality hotels under the franchise brands of Starwood, Marriott, Hilton and InterContinental. For more information, please visit http://www.ltdmanagement.com

Contact:    
Kimberly Schlick            
LTD Management
757.410.8920
kschlick@ltdmanagement.com

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Kimberly Schlick

Jennifer O'Neal