CNL Hospitality To Develop A Renaissance Hotel In Tampa

ORLANDO, FL— CNL Hospitality Corp. said it has reached an agreement with Taubman Centers to develop a Renaissance Hotel at Tampa’s International Plaza shopping mall, located adjacent to Tampa International Airport. Upon completion, CNL will add the Renaissance to its growing portfolio of hotel assets, marking the company’s first Renaissance Hotel and its 12th hotel brand. The nine-story, 300-room property is scheduled to begin construction in early 2003, and will feature a restaurant, business center, club level with lounge, fitness center and pool, as well as 9,500 square feet of meeting space. The Renaissance will be CNL’s third new hotel development project in Florida. “The Renaissance is an exciting addition to CNL’s portfolio of premium hotel properties, which now includes 54 hotels totaling more than $1.8 billion in value,” said Charlie Muller, chief operating officer of CNL Hospitality Corp. “We look forward to developing and investing in this prestigious hotel and are pleased to be working closely with Taubman, one of the nation’s top retail developers.”