Friday, June 10, 2005  Press Release

 SAN ANTONIO – With the hotel’s financial transaction completed earlier in the week between a private hotel ownership group and the City of San Antonio, a groundbreaking ceremony held today signaled the start of construction on the long awaited 1,000-room hotel that will be flagged as a Grand Hyatt and sit adjacent to the convention center in downtown San Antonio. 

More than 100 elected officials, business leaders and tourism representatives joined hotel developer and design-builder FaulknerUSA along with the hotel owners – Marathon Real Estate and FaulknerUSA known collectively as Hotel Investments, LP – and the hotel's operator Hyatt Hotels Corporation to celebrate this latest milestone for the City’s tourist and convention industry.  A highlight of the celebration was the announcement of the hotel’s flag as a Grand Hyatt by FaulknerUSA President Mark Schultz. 

“We’re excited to announce today that our hotel will fly the Grand Hyatt flag,” Construction of the hotel is scheduled to be completed in early 2008.Event dignitaries wore construction hard hats and held ceremonial shovels during the groundbreaking ceremony that commemorates the start of construction. 

Participating in the event was San Antonio Mayor Ed Garza; Mark Schultz, president of FaulknerUSA; John Halpern, managing director of Marathon Real Estate; Laura Roe, vice president of  finance at FaulknerUSA; Chuck Floyd, executive vice president of operations at Hyatt Hotels; District 1 Councilman Roger Flores; District 2 Councilwoman Sheila McNeil; J. Rolando Bono, interim city manager; Christopher Brady, assistant city manager; and Mike Sawaya, convention center director; and mayor-elect Phil Hardberger.

 Former Mayor Lila Cockrell was the special guest of the event organizer FaulknerUSA and presided over the groundbreaking ceremony. Ms. Cockrell is a long-time supporter of a hotel dedicated to serving the convention center; the Grand Hyatt will be built adjacent to the theater that bears her name.  Father John Magdalene Suenram, pastor of the Basilica of the National Shrine of the Little Flower, provided a blessing of the area prior to the ceremony.  The National Anthem was sung by Angela Mclendon, interim communications manager for the San Antonio Convention and Visitors Bureau.

  “Today’s groundbreaking is the beginning of a tremendous economic development opportunity for San Antonio,” said Mark Schultz, president of FaulknerUSA. “The Grand Hyatt will not only enhance the city’s tourism industry but also raise the city’s profile as a tier one convention destination.”

Assistant City Manger Christopher Brady added that the city is very excited to get this project underway. “This has been a long awaited project that will change the landscape of downtown and bring far reaching economic development benefits to the citizens of San Antonio and our community.”  Immediately following the groundbreaking ceremony, guests were invited to a lunch and a program that featured comments by today’s dignitaries. At the end of the lunch, each guest was presented with a special commemorative gift made of limestone and pewter.

About FaulknerUSA

Headquartered in Austin, Texas, FaulknerUSA is a national development and design-build company with a 40-plus-year record of excellence. From convention hotels, multi-use developments and retail projects to military housing, hospitals and correctional facilities, FaulknerUSA delivers innovative development and construction solutions for a broad range of clients nationwide.

200 E. Market St. San Antonio, TX. 78205  (210) 207-8500  toll-free (877) 504-8895  fax (210) 223-1495

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