4-STAR HOTELS IN CHINA

*Global branded 4-star hotel for sale in Tianjin, China.  Tianjin is third largest city in China and largest port.  Property sits on 6,000 square meters of land, 40,000 total constructed square meters, 22 floors.  Current asking price is $40 million USD.

*4-star hotel located near airport in Beijing. Property sits on 13,000 square meters of land and 50,000 square meters total constructed; 90 suites and 360 rooms. Asking price approximately $105 million USD.

Timing is critical with both properties.  The Olympics in Summer of 2008 is creating demand beyond already favorable market conditions.

CONTACT: BILL BILLEAUD at 214-675-5539 or