Perini Building Co. Builds Renaissance Las Vegas Hotel Two Months Ahea

    Business Editors/Building/Construction Writers

    LAS VEGAS--(BUSINESS WIRE)--Jan. 24, 2005--Perini Building Co., a wholly owned subsidiary of Perini Corp. (NYSE:PCR), completed the Renaissance Las Vegas Hotel in just 12 months on budget and two months early. Jackson-Shaw Co. of Dallas developed the property.
    The business-oriented facility is the largest non-gaming hotel in Nevada. It is strategically located within walking distance of the Las Vegas Convention Center and the city's new monorail system, which travels to and from the Las Vegas Strip.
    The Renaissance Las Vegas Hotel has more than 32,000 square feet of function space, including meeting rooms with flexible floor plans. The property is equipped with wireless capabilities and high-speed Internet access. Other hotel amenities include ENVY Steakhouse, a coffee shop, a pool and spa, in-house laundry facility, and a 459-space parking garage. The 14-story facility has 548 rooms and 30 suites. The interior and exterior design is a combination of stone, rare woods and intricate millwork.
    "This is by far one of the fastest properties Perini has built to date," commented Dick Rizzo, chairman of Perini Building Co. "Jackson-Shaw Co., HPA Architects and our subcontractors all contributed to building this quality facility in record time."
    "Coordinating logistics and working in a tight location were the most challenging aspects of the project," said Rick Lorimer, project manager for Perini Building Co. "To maintain convention business as usual and not interfere with the construction of the monorail required constant communication with a number of different entities."
    "To improve the views facing the Las Vegas Strip, the developer opted to bury all utility and power lines. Working closely with Clark County, we buried and connected all of the utilities, and at the same time, we added a lane to Paradise Road, which runs in front of the hotel. In total, Perini employed approximately 350 craftspeople on this project," said Lorimer.
    Perini Building Co. is one of the largest builders of hotels and casino projects in the country. The company specializes in fast track, complex facilities. Parent company Perini Corp. recently ranked among the top 26 best managed companies in America published by Forbes magazine.

    About Perini Corp.

    Perini Corp. and its companies (Perini Building Co., Perini Civil and Perini Management Services Inc.) provide general contracting, including building and civil construction, construction management, and design-build services to private clients and public agencies in the United States and selected overseas locations. Perini Building Co. is known for its construction expertise in hospitality and gaming, corrections, health care, education, and sports and entertainment. For more information about Perini, visit www.perini.com.

    About Jackson-Shaw

    Jackson-Shaw Co. has been active in the Las Vegas Valley for the past 10 years. The company owns and operates the 325-room Hampton Inn Tropicana and several other commercial real estate developments in Las Vegas. The Dallas-based company has developed more than 1.2 million square feet of industrial space in the Las Vegas Valley, currently valued at almost $150 million. Jackson-Shaw Co. is planning to open an office on the East Coast in the near future. It has been active nationwide in hospitality for more than 20 years. Jackson-Shaw Co. has built 12 hotels to date. A builder of essential space, Jackson-Shaw Co. focuses on real estate development and investment across the United States. The Dallas-based firm has developed more than 30 million square feet of office, industrial, flex/tech, hotel and residential properties and has $250 million in assets under management. For more information, please visit www.jacksonshaw.com.

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CONTACT: Papagalos Strategic Communications Ann Papagalos, 602-279-2934 ann@papagalos.com

KEYWORD: NEVADA TEXAS INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION TRAVEL PRODUCT SOURCE: Perini Building Co.

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