Gold Key PHR Joint Ventures

Virginia Beach, Va, January 22, 2007 – Thirty-First Street, L.C., a division of Gold Key/PHR Hotels & Resorts, the largest hospitality company on the Virginia Beach Oceanfront, is donating ½ a million dollars to build a permanent entertainment stage in Neptune’s Park at 31st Street and Atlantic Avenue.

Production has already begun on the 3,100 sq. ft. facility. W.M. Jordan Company, Inc., a leading construction management firm, is the general contractor. The stage will be permanently set and ready for use by Memorial Day weekend, the official kick-off weekend of the summer season.

A permanent stage for entertainment has always been a part of the development plan for the Thirty-first street project. Originally, the construction of the stage was slated as a responsibility of the City of Virginia Beach. Due to funding difficulties, the City was unable to fulfill that agreement. Since Gold Key/PHR considers it such an important part of the project, they decided to assume the responsibility, fulfill the commitment for the community, and build the stage.

Last year, a stage was built as a temporary facility in preparation for the permanent structure. In 2006, Neptune’s Park hosted events such as the Neptune’s Wine Festival, SUM841 Interfaith Series, concerts featuring national recording artists, and the Redskins Beach Blitz. The permanent stage promises to complement the free entertainment scheduled in summer 2007 for the enjoyment of the public. Promoter for the park, Kathleen Flannery, is optimistic about the new development. “This project will enhance our ability to draw national entertainment to this picturesque venue and provide an abundance of quality and diverse activities throughout the year.”

W.M. Jordan retained James River- Architect, a Newport News-based architectural firm, to design the structure. Gary Mulgrew, W.M. Jordan’s Project Manager for the development, notes that this is more than just an entertainment stage. The structure will also have a fabric tent canopy, a mechanical facility, storage facility, dressing rooms for entertainment acts and public restrooms.

Gold Key/PHR Hotel and Resorts is the Virginia Beach oceanfront’s number one employer with 2,000 associates in season. The company owns and operates properties in the Mid-Atlantic region and oversees approximately 1,700 rooms. The integrated hospitality firm owns and/or manages hotels, vacation ownership resorts and leading area restaurants including Mahi Mah’s, Pi-zzeria, Rockfish Bar & Seagrill, and more recently, Catch 31 and Salacia.