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Prime Hospitality Closes Sale of Oklahoma City, OK AmeriSuites Hotel

FAIRFIELD, N.J., Prime Hospitality Corp. PDQ announced today that it has completed the sale of its Oklahoma City/Quail Springs AmeriSuites hotel to FCLC Quail Springs LLC. The hotel will continue to be operated as an AmeriSuites under a 20-year franchise agreement. Prime Hospitality will also continue to manage the hotel.

Prime Hospitality

The 128-suite hotel, which opened in 1999, is located at 3201 W. Memorial Road, Oklahoma City, OK. It is located adjacent to the FBI Regional headquarters and near large corporate demand generators such as Xerox, Lucent and AT&T Wireless. Attractions in the area include the Lake Hefner Recreational Area, the Cowboy Hall of Fame and the State Fairgrounds.

Prime Hospitality Corp., one of the nation's premiere lodging companies, owns, manages and franchises 248 hotels throughout the United States. The Company owns and operates three proprietary brands that compete in different segments: AmeriSuites® (all-suites), Wellesley Inns & Suites® (limited- service) and Prime Hotels & Resorts (full-service). Also within its portfolio are owned and/or managed hotels operated under franchise agreements with national hotel chains including Hilton, Radisson, Sheraton, Holiday Inn and Ramada. Prime can be accessed over the internet at www.primehospitality.com.

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Prime Hospitality LLC, one of the nation's premiere lodging companies, owns, manages, develops and franchises hotels throughout North America. The Company owns and operates two proprietary brands, Prime Hotels & Resorts (full-service), and Wellesley Inns & Suites® (limited service). Also within Prime's portfolio are owned and/or managed hotels operated under franchise agreements with national hotel chains.