Dublin, OH (March 30, 2007) -Castrop Wolfe Development Company, the managing member of the Holiday Inn West Bay, issued a statement in response to allegations that the property would be sold and turned into condos.

"These rumors could not be further from the truth. We have recently entered into an agreement to extend our Holiday Inn franchise until 2012," William Wolfe, President, said. "The Holiday Inn West Bay is a long-standing Traverse City landmark. We are committed to being a Holiday Inn and maintaining a standard of excellence in serving the people and visitors of Traverse City, both now and in the future. The Holiday Inn West Bay is here to stay."

Located on the shores of Lake Michigan in downtown Traverse City, the Holiday Inn West Bay is a full-service hotel with 179 guestrooms and over 5,000 square feet of meeting space. The hotel features amenities such as an indoor pool, sauna, whirlpool, fitness center and high-speed Internet access. Two restaurants and a nightclub are also on the beachfront property. Area attractions include championship golf courses, ski resorts, hiking/biking/snowshoe trails and shopping.

Recently, Castrop Wolfe Development Company spent $600,000 on renovations for items such as all new guestroom furniture, an updated telephone system and upgrades to Shimmers Nightclub.