Joseph Smith Named As President Of Boykin Management Company

Dec. 4, 2006 – FOR IMMEDIATE RELEASE

Joseph Smith Named As President Of Boykin Management Company

Cleveland, Ohio, December 4, 2006—Boykin Management Company is pleased to announce the appointment of Joseph Smith to the position of President at its headquarters, located in Cleveland, Ohio.

“I am pleased to announce the promotion of Joe Smith to the position of President of Boykin Management Company. Joe has brought a wealth of knowledge and years of experience to the Boykin organization, and his strong management skills and command over the day-to-day operations will further strengthen our market leading position”, commented Robert Boykin.

Most recently, Joe served as Chief Operating Officer of Boykin Management Company with operational responsibility for the company’s managed hotels and resorts.

Mr. Smith began his career with Boykin in 1985 at the Beachwood Marriott as Director of Restaurants. He subsequently served as General Manager of the Columbus Marriott East and Columbus Marriott North hotels before serving as Corporate Food and Beverage Director. During his tenure with Boykin Management Company, Mr. Smith has held the position of Regional Vice President, General Manager, Corporate Director of Food & Beverage, and Food & Beverage Director, among others. Prior to Boykin, Joe held various positions within both T.G.I. Fridays and American Airlines, adding additional hospitality and travel related experience.

Mr. Smith received his Bachelor’s of Science degree from the University of Wisconsin and has been a member of the Hotel Asset Managers Association (HAMA), National Hotel/Motel Association, and Hotel Electronic Distribution Network Association (HEDNA). He and his wife, Liz, reside in Avon Lake, Ohio with their daughters, Kelsey and Haley.

About the Company:
Founded in 1958, Boykin Management Company operates branded and independent first class and upscale hotels, condominium hotels, and resorts throughout the United States. Boykin has built a leadership reputation in the hotel industry with a solid foundation of experience in hotel operation, management, and development. Boykin is nationally recognized for its expertise in providing superior services to institutional, high net worth, private equity funds, developers and other hotel ownership groups. For more information about Boykin Management Company, please visit our website at: www.boykin.com.

Boykin Management Company contact: Grant Sabroff, Senior Vice President of Business Development, (216) 430-1282.

###

— End —