Crestline Hotels & Resorts Selected to Manage the New Hotel Indigo in Downtown Newark – Scheduled to Open in Late 2012

NEWARK, NJ – November 14, 2011 – Crestline Hotels & Resorts, Inc. today announced its appointment as the management company for the new Hotel Indigo, IHG’s (InterContinental Hotels Group) upscale boutique brand, being built on Broad Street in downtown Newark. The historic National State Bank Building, designed in 1912 by Cass Gilbert, will be converted into the 106 guest room hotel opening in late 2012. The Hotel Indigo will include 1,100 square feet of meeting space, a full-service business center, a lounge and restaurant which serves breakfast and dinner.

The new Hotel Indigo Newark is designed to fulfill Indigo’s brand commitment to affordable luxury and state-of-the-art amenities while reflecting the culture, character and history of the surrounding neighborhood. Even though the 12-story building is on the National Register of Historic Places, the hotel is designed to qualify for LEED Platinum certification, and will be the first Hotel rehabilitation to earn this significant designation. The hotel is being developed by Hanini Group, LLC and is being built in the heart of Newark’s successfully revitalized downtown core—within walking distance to the Prudential Center for sporting and cultural events. The City’s urban redevelopment was begun in 2001 and has rejuvenated the area along and adjacent to Broad Street, Newark’s main thoroughfare.

“This is a very significant new hotel project that is a part of an exciting revitalization of one of America’s top business cities,” said James Carroll, President & Chief Executive Officer, Crestline Hotels & Resorts. “We are delighted to have the opportunity to help open and manage this hotel, and we look forward to becoming a part of the greater Newark community while serving its visitors with exceptional guest service in this terrific new hotel,” added Carroll.

About Hotel Indigo Newark, NJ

Located at 810 Broad Street Newark, NJ, the hotel is in walking distance to restaurants and shops in downtown Newark. It is also within walking distance to Newark’s Penn Station and Amtrak service, just 5 miles from Newark Liberty International Airport and a 30 minute drive to Manhattan. The hotel offers a selection of well-appointed guest rooms and suites that feature contemporary design articulated for comfort. Each room includes a work area with a desk and ergonomic chair, as well as complimentary high speed Internet access, and additional amenities such as a coffee/tea maker. There is onsite parking and room service during select hours. In the evenings guest will enjoy the comfortable rooftop lounge, THE place to meet before any event at the nearby Prudential Center. For more information and reservations visit: www.ichotelsgroup.com.