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					                     GRAVES HOTELS RESORTS AND WORLDHOTELS
                          LAUNCH STATEGIC PARTNERSHIP:

                                 GRAVES WORLD HOSPITALITY

             First-of-its-Kind Business Venture Offers Independent Hoteliers
 Full-Service Management, Sales, Marketing, Distribution and Related Business-Building
             Services in One Package at a Fraction of Traditional Chain Costs

For Immediate Release

NEW YORK CITY – Nov. 13, 2006 – Graves Hotels Resorts, a Minneapolis-based hotel ownership,
development and management company, and WORLDHOTELS, a leader in the global independent hotel
sales, marketing and distribution industry, today announced the formation of Graves World Hospitality,
the hotel industry’s first joint-venture company to offer full-service management, sales, marketing,
distribution and related business-building services to luxury independent, upscale independent, and
branded upscale hotels and resorts. Operations will initially focus on hotels located in the Americas, with
plans to expand globally in the future. The company’s headquarters will be located in Minneapolis, with
support offices in Orlando and New York City.
        The announcement was jointly made by James Graves, CEO of Graves Hotels Resorts; Benjamin
Graves, president of Graves Hotels Resorts; and Tom Griffiths, vice president of WORLDHOTELS-the
Americas, during the International Hotel/Motel & Restaurant Show.
        “We believe Graves World Hospitality will fill a gap that currently exists in the hotel industry,”
said James Graves. “Many companies offer either management or sales, marketing and reservations
support – none offer everything an independent hotelier needs in one package. This new venture will
focus on independent hotels in the luxury segment, but will also work with independent and branded full-
service, upscale hotels that meet our standards.”
        “Our key point of differentiation is that Graves World Hospitality will provide a comprehensive
set of services at a fraction of traditional chain cost,” said Benjamin Graves. “Our set-fee structure will
cost a hotelier much less than typical brand-affiliation fees, which today hover around 14 percent.”
        James Graves added that hotels can opt for the Graves’ brand name (if they meet the brand’s
strict standards of excellence) and take advantage of “Guest Luxuries,” Graves World Hospitality’s new
guest loyalty program.
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                           601 1ST AVENUE NORTH, MINNEAPOLIS, MN 55403
        Griffiths said he believes this new joint-venture will be successful based on growth trends within
the independent segment and statistics indicating that boutique hotels perform better than high-end, full
service properties.
        “In the past year or so, WORLDHOTELS has seen a growing number of hotel owners reconsider
their brand affiliations, and return to an independent status,” said Griffiths. “In addition, industry research
from PKF Consulting* shows that boutique hotels performed better than high-end branded hotels in not
only occupancy and rooms RevPar, but had a higher daily rate, better profit per available room and a
greater profit margin.”
        Griffiths finished by saying that while Graves World Hospitality is a new entity, it will be
operated by approximately 90 experienced professionals in 31 sales and reservations offices worldwide.
In addition, guests of Graves World Hospitality hotels will be able to earn frequent flyer miles with 17
global airline partners – the most of any independent hotel group.
        For more information about Graves World Hospitality, visit online at gwhospitality.com.
                                                      ###

*Source: PKF Consulting – 2006 Trends in the Hotel Industry


About Graves Hotels Resorts
James Graves founded Graves Hotels Resorts in 1979 as a real estate development and management company.
Within the first two years, the company founded AmericInn® Lodging International and, under Graves Hotels
Resorts direction, grew that brand to more than 40 properties in 10 years.

In the mid 1990’s, Graves Hotels Resorts narrowed its focus and began cultivating niche markets of development in
upscale urban core and leisure destination markets. Propelled by success and experience developing major brands
such as Marriott, Radisson and Holiday Inn, in 2003, Graves Hotels Resorts opened the sophisticated modern luxury
hotel that is today branded the Graves 601 Hotel Minneapolis. This flagship hotel has earned Graves Hotels Resorts
many awards, including Best Roll Out Concept Hotel by Hospitality Design, the Gold List Reserve of Top Hotels in
the World by Condé Nast Traveler, and three Gold Key awards from Interior Design and Hospitality Design. It is
the only Four-Diamond rated hotel and Four-Diamond rated restaurant in the state of Minnesota.

About WORLDHOTELS
WORLDHOTELS is the largest and most established Europe-based global hotel group for independent hotels and
regional hotel brands. The company's strong emphasis is on properties with character and distinction.

Under the banner “Bringing Unique Hotels and People Together”, WORLDHOTELS offers business and leisure
travelers a wide choice of personal accommodation options in three distinct collections – Deluxe, First Class and
Comfort. WORLDHOTELS' guests also benefit from an extensive portfolio of partnerships, including frequent flyer
programs with 16 of the world's leading international airlines, including American Airlines, Delta and United
Airlines.

To its member hotels, WORLDHOTELS provides a wide range of sales, marketing, distribution and related
services. The company has about 500 member properties in more than 300 destinations and 70 countries worldwide.
For more information, visit worldhotels.com.


Media Contact: Patti Winger, Tel: 651-436-3592, Cell: 651-341-8991, pwinger@comcast.net




                            601 1ST AVENUE NORTH, MINNEAPOLIS, MN 55403

				
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