Document:

As of June 27, 2005

Key Hospitality Acquisition Corporation
1775 Broadway, Suite 604
New York, New York 10019

Maxim Group LLC
405 Lexington Ave.
New York, New York 10174

Re: Initial Public Offering

Gentlemen:

         This letter replaces the letter addressed to the parties named above
dated as of May 12, 2005. The undersigned stockholder, officer and director of
Key Hospitality Acquisition Corporation ("Company"), in consideration of Maxim
Group LLC ("Maxim") entering into a letter of intent, dated April 22, 2005
("Letter of Intent") to underwrite an initial public offering of the securities
of the Company ("IPO") and embarking on the IPO process, hereby agrees as
follows (certain capitalized terms used herein are defined in paragraph 11
hereof):

         1. If the Company solicits approval of its stockholders of a Business
Combination, the undersigned will (i) vote all Insider Shares owned by the
undersigned in accordance with the majority of the votes cast by the holders of
the IPO Shares and (ii) vote any shares of common stock acquired following the
IPO in favor of the Business Combination.

         2. In the event that the Company fails to consummate a Business
Combination within 18 months from the effective date ("Effective Date") of the
registration statement relating to the IPO (or 24 months under the circumstances
described in the prospectus relating to the IPO), the undersigned will take all
reasonable actions within the undersigned's power to cause the Company to
liquidate as soon as reasonably practicable. In such event, the undersigned
hereby waives any and all right, title, interest or claim of any kind in or to
any liquidating distributions by the Company, including, without limitation, any
distribution of the Trust Fund (as defined in the Letter of Intent) as a result
of such liquidation with respect to her Insider Shares ("Claim") and hereby
further waives any Claim the undersigned may have in the future as a result of,
or arising out of, any contracts or agreements with the Company and will not
seek recourse against the Trust Fund for any reason whatsoever.

         3.In order to minimize potential conflicts of interest which may arise
from multiple affiliations, the undersigned agrees to present to the Company for
its consideration, prior to the undersigned's exploitation of that opportunity
in any way or the presentation to any other person or entity, any suitable
opportunity to acquire an operating business or any real property or related
assets, until the earlier of the consummation by the Company of a Business
Combination, the liquidation of the Company or until such time as the
undersigned ceases to be an officer or director of the Company, but subject, in
each case, to any pre-existing fiduciary obligations the undersigned might have.

         4. The undersigned acknowledges and agrees that the Company will not
consummate any Business Combination which involves a company which is affiliated
with any of the Insiders unless the Company obtains an opinion from an
independent investment banking firm reasonably acceptable to Maxim Group LLC
that the business combination is fair to the Company's stockholders from a
financial perspective.
<PAGE>

         5. Neither the undersigned, any member of the family of the
undersigned, nor any Affiliate of the undersigned will be entitled to receive
and will not accept any compensation for services rendered to the Company prior
to the consummation of the Business Combination; provided that the undersigned
shall be entitled to reimbursement from the Company for her out-of-pocket
expenses incurred in connection with seeking and consummating a Business
Combination.

         6. The undersigned agrees that neither the undersigned, any member of
the family of the undersigned, or any Affiliate of the undersigned will be
entitled to receive or accept, and the undersigned, on behalf of the undersigned
and the aforementioned parties, hereby waives any rights to a finder's fee or
any other compensation in the event the undersigned, any member of the family of
the undersigned or any Affiliate of the undersigned originates a Business
Combination.

         7. The undersigned will escrow her Insider Shares for the three year
period commencing on the Effective Date subject to the terms of a Stock Escrow
Agreement which the Company will enter into with the undersigned and an escrow
agent acceptable to the Company.

         8.The undersigned agrees to be the Secretary and a member of the Board
of Directors of the Company until the earlier of the consummation by the Company
of a Business Combination or the liquidation of the Company. The undersigned's
biographical information furnished to the Company and Maxim and attached hereto
as Exhibit A is true and accurate in all respects, does not omit any material
information with respect to the undersigned's background and contains all of the
information required to be disclosed pursuant to Section 401 of Regulation S-K,
promulgated under the Securities Act of 1933. The undersigned's Questionnaire
furnished to the Company and Maxim and annexed as Exhibit B hereto is true and
accurate in all respects. The undersigned further represents and warrants to the
Company and Maxim that:

         (a)she is not subject to or a respondent in any legal action for, any
injunction, cease-and-desist order or order or stipulation to desist or refrain
from any act or practice relating to the offering of securities in any
jurisdiction;

         (b)she has never been convicted of or pleaded guilty to any crime (i)
involving any fraud or (ii) relating to any financial transaction or handling of
funds of another person, or (iii) pertaining to any dealings in any securities
and he is not currently a defendant in any such criminal proceeding; and

         (c) she has never been suspended or expelled from membership in any
securities or commodities exchange or association or had a securities or
commodities license or registration denied, suspended or revoked.

         9.The undersigned has full right and power, without violating any
agreement by which the undersigned is bound, to enter into this letter agreement
and to serve as Secretary and a member of the Board of Directors of the Company.

         10.The undersigned authorizes any employer, financial institution, or
consumer credit reporting agency to release to Maxim and its legal
representatives or agents (including any investigative search firm retained by
Maxim) any information they may have about the undersigned's background and
finances ("Information"). Neither Maxim nor its agents shall be violating the
undersigned's right of privacy in any manner in requesting and obtaining the
Information and the undersigned hereby releases them from liability for any
damage whatsoever in that connection.

         11. As used herein, (i) a "Business Combination" shall mean an
acquisition by merger, capital stock exchange, asset or stock acquisition,
reorganization or otherwise and as otherwise described in the registration
statement relating to the IPO, of an operating business or real property assets
in the hospitality and related industries selected by the Company; (ii)
"Insiders" shall mean all officers, directors and stockholders of the Company
immediately prior to the IPO; (iii) "Insider Shares" shall mean all of the
shares of Common Stock of the Company owned by an Insider prior to the IPO; and
(iv) "IPO Shares" shall mean the shares of Common Stock issued in the Company's
IPO.
<PAGE>

         12. The undersigned hereby agrees that any action, proceeding or claim
against the undersigned arising out of or relating in any way to this Agreement
shall be brought and enforced in the courts of the State of New York or the
United States District Court for the Southern District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.
The undersigned hereby waives any objection to such exclusive jurisdiction and
that such courts represent an inconvenience forum.

                                       Glyn F. Aeppel
                                       -----------------------------------------
                                       Print Name of Stockholder

                                       /s/ Glyn F.  Aeppel
                                       -----------------------------------------
                                       Signature

                                    EXHIBIT A

         Glyn F. Aeppel has been our secretary and a member of our board of
directors since inception. Ms. Aeppel has over 18 years of hotel acquisition and
development experience, financing in excess of $1 billion in hotel properties.
Since April 2004, Ms. Aeppel has been, and currently is, a principal of Aeppel
and Associates, a hospitality advisory development company. From July 2002 to
April 2004, Ms. Aeppel served as the executive vice president of business
development for the Americas at Le Meridien Hotels and Resorts. From April 2001
to July 2002, Ms. Aeppel was the executive vice president of business
development and acquisitions at Interstate Hotels & Resorts, Inc. (NYSE:IHR) and
from 1995 to 1998 the vice president of development at Interstate. From 1998 to
2001, she was senior vice president of acquisitions and development for FFC
Hospitality, LLC, a private equity fund founded by the co-founder and former
chairman of Interstate. From 1993 to 1995, she was a partner in Lodging
Evaluation Group, a hotel development and finance consulting company she
co-founded. From 1990 to 1993, she was the director of development for Germany
and Austria at Holiday Inn Worldwide in Wiesbaden, Germany. From 1988 to 1989,
she was an international management consultant to Host Marriott Corp. (NYSE:HMT)
in Bonn, West Germany. From 1986 to 1988 she was a senior project finance
analyst, treasury department for Marriott. Ms. Aeppel received an M.B.A. from
the Harvard Graduate School of Business Administration and a B.A. from Principia
College.As of June 27, 2005

Key Hospitality Acquisition Corporation
1775 Broadway, Suite 604
New York, New York 10019

Maxim Group LLC
405 Lexington Ave.
New York, New York 10174

                           Re: Initial Public Offering

Gentlemen:

         This letter replaces the letter addressed to the parties named above
dated as of May 12, 2005. The undersigned stockholder and special advisor of Key
Hospitality Acquisition Corporation ("Company"), in consideration of Maxim Group
LLC ("Maxim") entering into a letter of intent, dated April 22, 2005 ("Letter of
Intent") to underwrite an initial public offering of the securities of the
Company ("IPO") and embarking on the IPO process, hereby agrees as follows
(certain capitalized terms used herein are defined in paragraph 11 hereof):

         1. As a special advisor to the Company, the undersigned agrees to
assist the Company in identifying, seeking, and consummating a Business
Combination, including providing strategic advice to the Company.

         2. If the Company solicits approval of its stockholders of a Business
Combination, the undersigned will (i) vote all Insider Shares owned by the
undersigned in accordance with the majority of the votes cast by the holders of
the IPO Shares and (ii) vote any shares of common stock acquired following the
IPO in favor of the Business Combination.

         3. In the event that the Company fails to consummate a Business
Combination within 18 months from the effective date ("Effective Date") of the
registration statement relating to the IPO (or 24 months under the circumstances
described in the prospectus relating to the IPO), the undersigned will take all
reasonable actions within the undersigned's power to cause the Trust Fund (as
defined in the Letter of Intent) to be liquidated and distributed to the holders
of the IPO Shares. The undersigned hereby further waives any and all right,
title, interest or claim of any kind in or to any distribution of the Trust Fund
as a result of such distribution with respect to his Insider Shares ("Claim")
and hereby waives any Claim the undersigned may have in the future as a result
of, or arising out of, any contracts or agreements with the Company and will not
seek recourse against the Trust Fund for any reason whatsoever.

         4. In order to minimize potential conflicts of interest which may arise
from multiple affiliations, the undersigned agrees to present to the Company for
its consideration, prior to the undersigned's exploitation of that opportunity
in any way or the presentation to any other person or entity, any suitable
opportunity to acquire an operating business or any real property or related
assets, until the earlier of the consummation by the Company of a Business
Combination, the liquidation of the Company or until such time as the
undersigned ceases to be a special advisor of the Company, but subject, in each
case, to any pre-existing fiduciary obligations the undersigned might have.

         5. The undersigned acknowledges and agrees that the Company will not
consummate any Business Combination which involves a company which is affiliated
with any of the Insiders unless the Company obtains an opinion from an
independent investment banking firm reasonably acceptable to Maxim that the
business combination is fair to the Company's stockholders from a financial
perspective.
<PAGE>

         6. Neither the undersigned, any member of the family of the
undersigned, nor any Affiliate of the undersigned will be entitled to receive,
and will not accept, any compensation for services rendered to the Company prior
to the consummation of the Business Combination; provided that the undersigned
shall be entitled to reimbursement from the Company for his out-of-pocket
expenses incurred in connection with seeking and consummating a Business
Combination, including first class air travel.

         7. The undersigned agrees that neither the undersigned, any member of
the family of the undersigned, or any Affiliate of the undersigned will be
entitled to receive or accept, and the undersigned, on behalf of the undersigned
and the aforementioned parties, hereby waives any rights to a finder's fee or
any other compensation in the event the undersigned, any member of the family of
the undersigned or any Affiliate of the undersigned originates a Business
Combination.

         8. The undersigned will escrow his Insider Shares for the three-year
period commencing on the Effective Date, subject to the terms of a Stock Escrow
Agreement which the Company will enter into with the undersigned and an escrow
agent acceptable to the Company.

         9. The undersigned agrees to be a special advisor to the Company, on a
nonexclusive basis, until the earlier of the consummation by the Company of a
Business Combination or the distribution of the Trust Fund. The undersigned's
biographical information furnished to the Company and Maxim is true and accurate
in all respects, does not omit any material information with respect to the
undersigned's background and contains all of the information required to be
disclosed pursuant to Section 401 of Regulation S-K, promulgated under the
Securities Act of 1933, as amended. The undersigned further represents and
warrants to the Company and Maxim that:

              (a)   he is not subject to or a respondent in any legal action
                    for, any injunction, cease-and-desist order or order or
                    stipulation to desist or refrain from any act or practice
                    relating to the offering of securities in any jurisdiction;

              (b)   he has never been convicted of or pleaded guilty to any
                    crime (i) involving any fraud or (ii) relating to any
                    financial transaction or handling of funds of another
                    person, or (iii) pertaining to any dealings in any
                    securities and he is not currently a defendant in any such
                    criminal proceeding; and

              (c)   he has never been suspended or expelled from membership in
                    any securities or commodities exchange or association or had
                    a securities or commodities license or registration denied,
                    suspended or revoked.

         10. The undersigned has full right and power, without violating any
agreement by which the undersigned is bound, to enter into this letter agreement
and to serve as special advisor to the Company.

         11. As used herein, (i) a "Business Combination" shall mean an
acquisition by merger, capital stock exchange, asset or stock acquisition,
reorganization or otherwise and as otherwise described in the registration
statement relating to the IPO, of an operating business or real property assets
in the hospitality and related industries selected by the Company; (ii)
"Insiders" shall mean all officers, directors and stockholders of the Company
immediately prior to the IPO; (iii) "Insider Shares" shall mean all of the
shares of Common Stock of the Company owned by an Insider prior to the IPO; and
(iv) "IPO Shares" shall mean the shares of Common Stock issued in the Company's
IPO.

                                       Robert Chefitz
                                       -----------------------------------------
                                       Print Name of Stockholder

                                       /s/ Robert Chefitz
                                       -----------------------------------------
                                       Signature

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