New Hotel at Westdale to be Developed

Cedar Rapids, Iowa – Kinseth Hospitality Companies, Inc. (“Kinseth”) and Frew Development Group, LLC (“FDG”) today announced that it is jointly pursuing a new hotel at the Westdale redevelopment in Cedar Rapids, Iowa.  The limited service hotel will be located at the main entrance to the property on Williams Boulevard.

“We are honored to partner with Kinseth Hospitality to bring a long-anticipated hotel to the Highway 151 corridor in southwest Cedar Rapids,” said FDG President and CEO, John Frew.  “The Kinseth organization is widely respected for its hotel development and operating expertise, and we are fortunate to welcome them to the Westdale project.”

“We are excited to collaborate with Frew Development and take part in Westdale’s reinvention” said Bruce Kinseth, Senior Vice President of Kinseth Hospitality. “The hotel will really compliment all the other new development at Westdale, and we believe this is a great time and place to invest in a new and cutting edge hotel product in Cedar Rapids.”

FDG is the developer of Westdale, formerly a 900,000sf regional shopping center on 72+ acres.  Following the demolition of nearly 600,000sf of buildings and installation of new roads, utilities, signage and related infrastructure, Westdale has been transformed into a mixed-use development anchored by JCPenney, Younkers and Burlington Stores.  Westdale is managed and operated by Westdale CR Ventures #1, LLC, a subsidiary of Frew Development Group.  For more information, visit www.westdalecr.com.

About Kinseth: Kinseth is a leading hotel management, development and ownership company. Kinseth has a proven track record of developing and operating award-winning hotels, restaurants and meeting facilities. Kinseth Hospitality is based in North Liberty, Iowa, and currently operates 70 hotels and 9 branded restaurants in 13 states.

About FDG: Frew Development Group, LLC is a private real estate development company based in Denver, Colorado.  For more information, visit www.frewdevelopment.com.