Greensboro, NC— After 30 years as the Holiday Inn Four Seasons, Koury Corporation has announced it will officially change its flagship hotel from Holiday Inn to Sheraton on April 1, 2000.

The name change is just part of an overall strategy that includes updated and renovated rooms, the addition of new entertainment and eating options in the North Lobby of the hotel and two new concierge floors with special amenities on the 27th and 28th floors. At 1,017 rooms, the hotel complex is the largest between Washington, DC and Atlanta, GA.

"The Sheraton name will add a new dimension and enhance the convention industry in Greensboro", said Mo Milani, Executive Vice President of Koury Corporation's Hotel Division.

"Holiday Inn has served us well in the travel and hospitality industry, but as we expand into the larger scale meetings and convention market, the Sheraton name has greater recognition nationally", Milani added. "In fact, we chose Sheraton because of its reputable link to the meetings industry," he said. ""The Sheraton chain is widely acclaimed in that market."

Starwood, through its subsidiaries, owns, manages and franchises hotels under its St. Regis, The Luxury Collection, Westin, Sheraton, Four Points and W brands. Starwood is one of the leading hotel and leisure companies in the world with more than 700 hotels in 76 countries and 130,000 employees at its owned and managed properties.

"Our hotel and convention complex is the third largest privately owned facility in the country," said Stephen D. Showfety, President of Koury Corporation. "The new affiliation will allow us to compete more aggressively in the national market and align the property more closely with our convention and meetings customers." "The Koury Corporation's ownership and management team will continue uninterrupted."

Currently, the original 5-story facility and the 16-story tower, consisting of 524 rooms, are undergoing major renovations. The upgraded furnishings will include large writing and computer desks for our business traveler. The renovations are scheduled for a February 2000 completion date, making this facility comparable in every way to the rooms in the 28-story tower. Fiber optic cable will be installed throughout the building to provide high speed Internet access to all guest rooms.

A variety of changes are slated for the North Lobby to add additional excitement and create a true entertainment center for guests and visitors alike such as a jazz band playing weeknights from 5:00 to 7:00 pm. New attractions include a natural Juice Bar, Dessertery and Bagel shop offering food and beverage until 2:00 am; Joseph's Restaurant and Stingers Seafood Bar & Grill will soon be remodeled.

For discriminating travelers and guests who desire a truly exceptional experience, our concierge floor and luxury suites provide unmatched elegance and comfort. Enjoy rooms with a unique size and shape, 13-foot ceilings, spacious bathrooms complete with whirlpool tubs, and a separate living area with conference table. Fax machines in each suite keep the business traveler in touch without having to leave the comfort of his or her room.

These renovations are just the latest in a series of expansions and upgrades that have marked the history of the Holiday Inn Four Seasons since its inception. Originally completed in 1970 with 250 guest rooms and 5,500 square feet of meeting space, the facility has grown enormously in the past three decades maintaining its stature as one of the mid-Atlantic's premier convention hotels.

By 1981, an ambitious 16-story tower had been added, more than doubling the number of guest rooms and bringing the total meeting space to 50,000 square feet. In May, 1990 plans were announced for a two-phase expansion program to include the following, which have been completed:

• The Joseph S. Koury Convention Center with 200,000 square feet of meeting space (open in December 1991).


• A 28-story tower with 493 guest rooms (opened in 1996).


• In 1996 plans were announced for an additional expansion of 50,000 square feet for The Victoria Wing, which opened in 1998, bringing the total square footage for meetings and conventions to 250,000 square feet and 1017 sleeping rooms.