CHESAPEAKE, VA - Development and operation of the new SpringHill Suites by Marriott in Norfolk, Va., and overall performance with all Marriott International hotel brands has garnered three prestigious national awards from Marriott for the hotel owner, LTD Management Company, L.L.C.

At Marriott's annual owners' conference early in December, LTD officials learned that they had received awards for Developer of the Year, Construction Excellence and Best Opening of the Year. LTD was one of two developers out of about 400 to receive Developer of the Year, which represents LTD's proven ability to successfully grow by developing Marriott hotel properties in multiple states.

"I can't say enough about Marriott International's relationship with LTD
Management," said Joseph Carrillo, vice president of owner and franchise services, SpringHill Suites. "They are a quality organization and are completely aligned with our philosophical beliefs of 'take care your associates and they will take care of your guests.' We are quite proud of the accomplishments they have achieved and look forward to a long and fruitful relationship."

Criteria for the Best Opening Award recognized that the hotel was ready to open upon arrival of the Franchise Opening Team, the hotel staff was well trained and ready to provide excellent service, and the hotel general manager exhibited clear communications with the franchise team. The award for Construction Excellence represented on-time plan submittal, timely notification for site inspections, fewest problems at site inspection and willingness to share construction techniques.

"We were thrilled to receive this recognition from our franchise partner," said Dilip Desai, LTD Management Company president. "We have a long association with Marriott, and we value our ability to work with them and carry out their brands successfully in our hotel properties. These awards reaffirm our commitment to building quality hotels and show our commitment in all three facets of the business - development, construction and operations."

The SpringHill Suites in Norfolk, located at 6350 Newtown Road, opened in May 2004. The six-story, 131-suite property features suites that are 25 percent larger than standard rooms. Each suite has a work area with well-lit work desk, ergonomic desk chair, phone and complimentary high-speed Internet access. The suites' pantry areas feature refrigerator, microwave, in-room coffee maker and sink. The hotel also has 4,500 square feet of flexible meeting space and wireless Internet access in the lobby.

"Since LTD opened the nation's first SpringHill Suites in Chesapeake, Va., in 1998, we have evaluated the brand standards and decided to go beyond them at this new property," said Hari Thakkar, LTD Management Company chief financial officer and managing partner. "We believe that Marriott has been very pleased with the result, and these awards are evidence."

In September 2004, Marriott hosted a developer's conference at the SpringHill Suites in Norfolk for about 20 hotel developers from the Eastern seaboard. Marriott used this forum to show Marriott developers the company's concept for the future of the SpringHill brand.

Besides its SpringHill Suites locations in Norfolk and Chesapeake, LTD also operates a SpringHill Suites in Williamsburg, Va. LTD has received several other awards from Marriott, including awards for its Residence Inn by Marriott in Williamsburg, Va., in 1999 and a Courtyard by Marriott in Chesapeake in 1997.