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Business Wire - Construction Underway for Additional Valet Parking at SeaTac Airport

SEATTLE--(BUSINESS WIRE)--Nov. 11, 1998--Nine hundred twenty-five new parking spaces will be available to accommodate travelers at SeaTac Airport by Dec. 15, 1998.

The valet airport parking company, Master Park, is well into construction on a $10 million, state-of-the-art valet parking facility on five and a half acres located on the corner of 170th and International Boulevard in SeaTac. Long term plans for the site include an additional 500-stall parking garage within nine months and a new WestCoast hotel within the next five years.

"The new facility will position Master Park with the two closest valet parking operations to the airport," says WestCoast Hotels' Vice President of Marketing Matthew Murphy. "As indicated, the facility will open by mid-December, in time for the holiday season when airport travel is the heaviest and parking will be in most demand. Further down the road, we look forward to opening the new hotel; the combination of a hotel and valet parking is a good complement for SeaTac."

Master Park currently owns and operates a 550-stall parking operation in conjunction with the WestCoast Sea-Tac Hotel on Pacific Highway South. Development of the new facility makes Master Park the largest valet airport parking facility in SeaTac. The successful partnership is comprised of WestCoast Hotels CEO Rodney Olson and other WestCoast Hotels executives, local entrepreneur Chris Jacobsen, and Pro Build executive Roger McCracken.

Master Park's goal is to obtain an additional 2,000 parking stalls by mid 1999. Already, Master Park is in the midst of due diligence on the viability of additional development in the SeaTac area. The company is currently in the process of submitting applications to the City of SeaTac for the development of a new 1,000 stall parking garage and a 250-stall self-park lot. With existing development and anticipated construction, Master Park will become SeaTac's most prominent parking operator, with over 3,000 parking stalls available by the year end 1999.