Harbert Realty Services Announces Mentoring Program to Begin for Area Contractors

MARRIOTT RENAISSANCE PARTNERS MAKE MINORITY INCLUSION TOP IMPORTANCE

Birmingham, Ala. – Harbert Realty Services and Concord Hospitality Services, partners in the 4-Diamond Marriot Renaissance Hotel project, announced today that they are working with contractor, Hoar Construction, Inc., on a program designed to encourage minority inclusion in all aspects of the hotel’s construction.

A mentoring program will be open to all area minority contractors, enabling them to become more competitive by improving project and construction management, as well as business operations.

The program will provide educational opportunities to participants in all phases of construction. Some of the opportunities include managing the business aspect of a construction company, resolving day to day issues on the job site and successfully completing projects.

Plans for the 255-room facility were announced in April 2007 and will set a new standard for luxury accommodations in the City Center, create new tax revenues and jobs for Birmingham, as well as increase the city’s attraction as a business center and convention destination. The Birmingham Construction Industry Authority (BCIA) will also be working with Harbert Realty Services, Concord Hospitality Enterprises and Hoar Construction to promote the construction industry as a viable career option for minority students by providing assistance through scholarship and expanded employment opportunities. BCIA will also assist with identifying minority prospects for the program through consultation and evaluation. The BCIA was established in 1990 with the goal of overcoming the critical underutilization of Minority and Disadvantaged Business Enterprises (MBE/DBE) and the City of Birmingham’s economic growth is a part of this initiative.

There is no cost for the five class program which will be offered to the participating protégés. Classes will be held weekly, beginning Friday, June 27, 2008 at the Hoar Construction office from 8:00a.m. to 12:00p.m.

Harbert Realty Service says that they hope that the minority subcontractors will have a sense of economic inclusion in the City of Birmingham.

“As a minority, I understand the representation of minorities in construction related businesses are underutilized. This program is an excellent opportunity to take minority subcontractors businesses to the next level of great success,” said Kenya Collins of Harbert Realty Services.

The project will create a total of 135 new permanent jobs in downtown Birmingham and 300 construction jobs during the conversion/construction phase of the project. The hotel will have a permanent annual payroll of $2.8 million benefiting the local economy.

“Harbert Realty Services will continue to support this program as we begin recruiting and training, providing employment opportunities for minorities in the hospitality industry,” said Collins. “It is our goal that the minority inclusion plan becomes a successful model to be emulated in future public/ private partnerships.”

Interested attendees can register or receive more information by contacting Trippe Gray, Hoar Construction at 205-423-2233 or by email tgray@hoarllc.com.

Harbert Realty Services is one of the largest privately held, full service commercial real estate firms in Alabama. Headquartered in Birmingham, the company offers clients expertise in a full range of commercial real estate services honed over 50 years of property ownership, development and management across the southeast. Harbert Realty Services is a majority owned subsidiary of Harbert Management Corporation. Harbert Realty’s mix of experience, resources and global reach allows it to offer clients one of the most comprehensive arrays of customized services in the commercial real estate market. For more information, visit www.harbertrealty.com.

Concord Hospitality Enterprises Company, based in Raleigh, North Carolina, was established in 1985 to acquire and develop hotel properties and to provide experienced hotel management to both full-service and limited-service properties. Consistently winning top industry awards, Concord operates 49 hotels with 6,098 rooms in 11 states and in Canada, with combined annual revenues of over $200 million. In addition, Concord currently has 12 hotel projects (with a cumulative 1,577 rooms) valued at more than $212 million under development. The company employs more than 2,700 associates. Its hotel brands include the following: Renaissance and Marriott hotels, Residence Inn, SpringHill Suites, Fairfield Inn and Suites, Fairfield Inn, Hilton Garden Inn, Holiday Inn, MainStay Suites and Radisson. The Company also operates a 4-Star independent hotel. More information is available at www.concordhotels.com.