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AWH Partners, LLC Acquires 488-Room Los Angeles Marriott Burbank Airport

Firm Surpasses $500 Million Hospitality Investments In Three Years

NEW YORK (January 8, 2015) – AWH Partners, LLC, a privately held real estate investment, development and management firm, and joint venture partner, Starr Companies, a global insurance and investment organization, announce today the closing and acquisition of Los Angeles Marriott Burbank Airport. With this acquisition, AWH Partners pushes its firm past the half billion mark in hospitality investment over the past three years. AWH Partners will complete the remainder of a $13.5 million renovation of the hotel and convention center and Spire Hospitality will operate the property under a franchise agreement with Marriott Hotels (NASDAQ: MAR). With the addition of this hotel, Spire Hospitality now manages 4,865 rooms and more than 250,000 square feet of meeting space.

“Our strategy continues to be finding significant off-market and narrowly marketed value-add investment opportunities,” says Chad Cooley, principal of AWH Partners. “Having a presence in the Los Angeles market broadens our footprint, and the proximity to the growing Burbank airport enhances the business model created for this fantastic Marriott.”

Following the purchase of Los Angeles Marriott Burbank Airport, AWH Partners will complete the multimillion dollar renovation and explore potential additional development rights on the approximately 12 acre property.

“We spent three years looking for the right opportunity to enter into the L.A. and Southern California market,” says Jon Rosenfeld, principal of AWH Partners. “And our patience definitely paid off. The Burbank hotel is our first, full-service Marriott and we are proud to grow our relationship with the Marriott brand family.”

Los Angeles Marriott Burbank Airport offers an ideal balance of fresh functionality and environmentally friendly design in a convenient location. Nestled in the heart of Burbank, Calif., Los Angeles Marriott Burbank Airport is within close proximity to Burbank Bob Hope Airport (BUR), numerous production studios and entertainment headquarters, and popular California attractions including Universal Studios and downtown Los Angeles. The hotel presents a state-of-the-art fitness center, two outdoor pools, cabanas and fire pits. Daily Grill restaurant at Los Angeles Marriott Burbank Airport offers classic American food at breakfast, lunch and dinner.

Offering 50,000 square feet of deluxe meeting facilities, Los Angeles Marriott Burbank Airport caters to a wide range of meetings and special events with 22 breakout rooms, four VIP boardrooms and the latest in high-tech services all on one level. The recently renovated Academy Ballroom is fitting for large events with capacity to accommodate up to 2,240 people.

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About AWH Partners, LLC

AWH Partners, LLC (“AWH”) is a privately held real estate investment, development and management firm formed in partnership between Russ Flicker, Jon Rosenfeld, Chad Cooley and Bernard Michael. Since 2010, AWH and its principals have completed in excess of $575 million of hotel investments, and are managing or have completed hotel redevelopment projects totaling more than $165 million. In early 2012, AWH acquired Lane Hospitality, a top-tier national hospitality platform formed in 1980, to expand AWH’s capabilities in the hospitality sector by aligning its institutional investment expertise with Lane’s first class operating platform and industry-leading executive team. In May of 2013, AWH rebranded Lane: Spire Hospitality. For more information, visit www.awhpartners.com.

About Starr Companies

Starr Companies (“Starr”) is the worldwide marketing name for the operating insurance, travel assistance companies and subsidiaries of Starr International Company, Inc., as well as for the investment business of C.V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on five continents; through its operating insurance companies, Starr provides property, casualty, and accident & health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, Hong Kong and Singapore each have an A.M. Best rating of “A” (Excellent). Starr’s Lloyd’s syndicate has a Standard & Poor’s rating of “A+” (Strong). For more information, see www.starrcompanies.com.

About Spire Hospitality

Spire Hospitality, based in Chicago, Ill., is a third-party operator of 4,865 room keys and more than 250,000 square feet of meeting space in hotels including unique independents and across celebrated brands such as Hilton Hotels & Resorts, (IHG) InterContinental Hotels Group and (MAR) Marriott International. Spire Hospitality offers expertise in all facets of hospitality management and is committed to preserving, protecting and enhancing the value of hotel real estate. For more information, visit www.spirehotels.com.