KATHY VAN VECHTEN APPOINTED VICE PRESIDENT SALES AND MARKETING OF TERRANEA RESORT

Opening mid-2009, Terranea Resort is the newest oceanfrontdestination resort on the Southern California coast

Los Angeles, CA - October 2007 - Lowe Enterprises, Inc. and Destination Hotels & Resorts have appointed Kathy Van Vechten Vice President Sales and Marketing of the new Terranea Resort currently under construction on the exclusive Palos Verdes peninsula. The 102-acre resort is situated along the California coast, just south of Los Angeles and is scheduled to open in 2009.

"We are thrilled that we were able to lure Kathy out of her recent retirement to join our team at Terranea Resort," said Terri Haack, executive vice president and managing director. "Her experience and background will be invaluable in launching this prestigious resort."

Van Vechten brings more than 32 years experience in the hotel sales and marketing arena, a track record that includes 19 years of luxury hospitality marketing with Four Seasons Hotels & Resorts. Van Vechten led the opening teams as regional director of marketing of two of the company's world-class Hawaii properties - Four Seasons Resort Maui - the company's first off-shore resort and Four Seasons Resort Hualalai - Hawaii's leading hotel. The Maui hotel was awarded the coveted Marketing Hotel of the Year under her direction.

A specialist in luxury hotel openings, Van Vechten then directed the introduction of the first non-gaming luxury hotel in Sin City with the opening of Four Seasons Hotel Las Vegas. Under her direction the property unmistakably defined the individual luxury experience in a city of mass marketing. During her tenure in Las Vegas Van Vechten introduced the Teddy Bear Suite, an annual holiday tradition that in its fifth year drew over 8,000 residents and guests into the hotel. She also oversaw the hotel's local charity outreach program which raised over $2 million for the UNLV Cancer Research Center. Her outreach to UNLV also encompassed the UNLV Mentor Program to students on various elements of the hospitality industry.

Prior to joining Four Seasons, Van Vecthen held sales and marketing positions with Hotel Inter-Continental, San Diego; the Kona Surf Resort and Country Club; the Westgate Hotel San Diego; and the San Diego Hilton Beach and Tennis Resort. She also directed sales efforts for the San Diego Convention and Visitors Bureau.

Van Vechten served on marketing committees for the San Diego Convention and Visitors Bureau, Maui Visitors Bureau and the Hawaii Visitors and Convention Bureau.

About Terranea Resort
Slated to open mid-2009, Terranea is set in the grandeur of a Mediterranean estate on the magnificent Palos Verdes peninsula. The 400-room hotel includes guestrooms, suites and bungalows and a host of world-class amenities, all of which take full advantage of this pristine 102-acre oceanfront setting while protecting the area's natural beauty.

The name Terranea was created to reflect the Mediterranean nature of the resort's coastal setting and this elegant Mediterranean style is the backdrop for a distinctive classic California lifestyle experience. Terranea Resort will feature a 24-room destination Spa and hair salon, fitness facility, 138,000 square feet of indoor and outdoor meeting and event space, golf on site with a nine-hole short course with practice facility, three pools, children's center, shopping, dining, beach cove and unrivaled recreation including miles of walking and hiking trails with access to an adjacent 300-acre nature preserve.

Terranea is just 20 miles from the Los Angeles International Airport, and within 30 minutes of many of the sights, culture and offerings of LA, one of the world's largest metropolitan areas and America's second largest city, and 45 minutes to the excitement of Orange County.

About Destination Hotels & Resorts and Lowe Enterprises
Los Angeles-based Lowe Enterprises is a leading national real estate development, investment and management firm. Over the past 35 years, it has developed, acquired or managed more than $8 billion of real estate assets nationwide. Through Lowe Destination Development, Lowe's hospitality and resort community development subsidiary, the firm is currently developing in excess of $1 billion of hospitality properties nationwide, including the 102-acre Terranea Resort in the Los Angeles' area of Palos Verdes, the 1,040-acre Grizzly Ranch in Portola, Calif., the 700-acre Stone Eagle Golf Club in Palm Desert, Calif. the 600-room SilverRock Resort in La Quinta, Calif, the 136-unit Stowe Mountain Lodge in Vermont and the 6,000-acre Suncadia project near Roslyn, Wash. Lowe Enterprises maintains regional offices in Denver, Irvine, Phoenix, San Francisco, Sacramento and Washington D.C. and project offices nationwide.

Destination Hotels & Resorts is a privately held lodging management company headquartered in suburban Denver, Colo. With more than 30 independent, luxury and upscale hotels, resorts and golf clubs, Destination is the fifth largest independent hospitality management company in the country. The company's portfolio features more than 7,000 guest rooms, 10 golf courses and 11 full-service spas. Destination Hotels & Resorts' properties are located in key metropolitan and resort markets including Washington, D.C., Houston, Denver, Dallas, San Diego, Aspen, Austin, Phoenix, Portland, Palm Springs, Maui and Lake Tahoe. For more information on the properties in the Destination Hotels & Resorts collection, please visit www.destinationhotels.com.

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