Allied Hotel Properties Inc. - News Releases - Allied Hotel Properties Announces Hotel Acquisition

	Mon Jul 24, 2000 Allied Hotel Properties Announces Hotel Acquisition
	Vancouver, B.C. - Allied Hotel Properties Inc. ("Allied", stock symbol AHP) has entered into an agreement to acquire the Delta Bow Valley Hotel in Calgary, Alberta. The 398 room Delta Bow Valley Hotel is located in downtown Calgary and managed by Delta Hotels Limited ("Delta"). Hotel amenities include 11,432 ft2 of meeting space, an indoor pool, whirlpool, fitness room and business centre. The 24-storey building was built in 1980 and has three levels of parking below grade. Allied intends to undertake an extensive capital expenditure program in the guest rooms and common areas in order to maintain the competitive position of the hotel in the Calgary market. The acquisition, which is subject to normal due diligence and financing conditions, would add a fourth Delta property to Allied's portfolio, thus continuing Allied's strategy of geographical diversification while complementing the existing portfolio. Allied is a growth oriented hotel ownership and management company with hotel properties in Greater Vancouver, Edmonton and Toronto. Its hotel portfolio currently consists of: Crowne Plaza Hotel Georgia, Crowne Plaza Chateau Lacombe, Crowne Plaza Toronto Don Valley Hotel, Delta Vancouver Suites, Delta Pacific Resort & Conference Centre, Delta Vancouver Airport and Holiday Inn Vancouver Downtown Hotel. Interested parties can find further information at www.alliedhotels.com. On behalf of the Board of Directors: Mr. Ronald G. Erdman President and Chief Executive Officer For more information please contact: Allied Hotel Properties Inc. Tel: (604) 689-9318 Fax: (604) 689-9332 e-mail: info@alliedhotels.com THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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