HYATT PLACE HOTEL TO BE BUILT IN THE WOODLANDS

THE WOODLANDS — Research Hotel Partners, L.P. has purchased a 4.3-acre site at the intersection of Research Forest Drive and Grogan's Mill Road for the construction of a Hyatt Place Hotel in The Woodlands, a 28,000-acre master-planned community located 27 miles north of downtown Houston. New Horizons Hospitality will develop the hotel, which will include 150 guestrooms and suites along with 6,000 square feet of meeting space. Construction is expected to begin later this year, with the opening planned for mid 2013. Todd Edmonds and Cody Christoph of Colliers International represented The Woodlands Development Company. New Horizons Hospitality also developed and owns the Hilton Garden Inn in The Woodlands Town Center.