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Terranea Resort Names Chef Christian Schmidt to Lead Culinary Team of New Oceanfront Luxury Resort Opening June 2009

Rancho Palos Verdes, Calif.- December 16, 2008 – Executive Vice President and Managing Director Terri A. Haack is pleased to announce Christian Schmidt as executive chef of Terranea, a 102-acre luxury resort situated along the California coastline in Palos Verdes, just south of Los Angeles. Managed by Destination Hotels & Resorts, the 582-room Terranea will bring its ecofriendly orientation into all aspects of its dining options with an emphasis on local and organic foods when it opens June 2009.

"Chef Schmidt is that rare culinary professional who combines impressive experience ranging from intimate bistros to large-scale banqueting, with an ongoing passion for expanding his already-considerable managerial and culinary expertise," commented Haack.

Schmidt's impressive resume reflects challenging positions and expansive responsibilities across a who's who of luxury hotel brands including Ritz Carlton, Mandarin Oriental and Fairmont hotels. He has overseen massive operations (in excess of $50 million) and large staff, building several food and beverage programs from the ground up including working with kitchen designers, architects and engineers. Chef Schmidt also has extensive experience developing restaurant concepts and menus and has worked closely with celebrity designers such as Tony Chi and renowned chefs such as Jasper White on creating innovative restaurants.

In addition to personally producing cuisine that is best described as subtly sophisticated, taking full advantage of fresh and organic ingredients, Chef Schmidt has been a leader in America's dining scene for more than 25 years. He brings a broad-base of talents to Terranea including fiscal acumen, a gift for food as well as mentoring, the ability to oversee and manage very large operations, and the interpersonal skills to build successful teams across a range of outlets.

His award-winning career has guided many highly decorated eateries from pre-opening to rave reviews. Proteges who have benefited from his instruction on food techniques and expertise in opening, operating and profiting from food and beverage are spread across the culinary landscape, testimony to his skill as a chef and business leader.

Chef Schmidt has been featured in such prestigious publications as Food & Wine, Gourmet, and Conde Nast Traveler. He is also the co-author of a popular cookbook, Viva La Mediterranean.

Working with Schmidt on the Terranea culinary efforts is Blau & Associates, a highly successful restaurant consulting firm with a client list that includes top hospitality establishments across the globe. Catering to an international palate, Terranea's exceptional food and beverage venues combine stunning ocean front locations with truly unique and contemporary offerings. The wide array of dining options include an intimate, free-standing restaurant with sweeping views of the coastline, an all-day dining room overlooking the main pool and terrace, and a casual dining and bar option on the edge of the outer most point of the property, boasting the resort's most idyllic location for enjoying sunsets and whale watching while basking in the warmth of outdoor fireplaces. Lighter fare is available at a coffee boutique, the spa and pool areas. All dining venues feature indoor and outdoor seating.

About Terranea
Just 20 miles from Los Angeles International Airport, Terranea is magnificently poised above the Pacific Ocean on the Palos Verdes Peninsula. The property boasts a 582-room resort including a 360-room hotel with 20 bungalows and 32 suites. Also available are 50 ocean front casitas and 32 detached ocean view villas tailored specifically to individuals looking for a more intimate setting.

Terranea will be home to a nine-hole par three golf course and The Spa at Terranea, a 25,000 square-foot spa with 24 treatment rooms, a salon and a fitness facility. The property includes three unique swimming pools, one with children's play area and a 140-foot waterslide. Three ocean view restaurants will offer a variety of food and beverage experiences including a casual, all-day dining restaurant, a free-standing signature restaurant and a cliff-side bar with spectacular vantage points for whale watching. Other amenities include a children's center with interactive programs and on-property scenic bluff-top trails that connect to many miles of coastal trails. A secluded beach cove also adds to the unique experiences at Terranea Resort. It will also offer 60,000 square feet of indoor meeting and event space featuring 33 meeting rooms for social and business gatherings, many with views of the Pacific.

About Destination Hotels & Resorts
Destination Hotels & Resorts is a privately held lodging management company headquartered insuburban Denver, Colo. With more than 30 independent, luxury and upscale hotels, resorts and golf clubs, Destination is the fourth largest independent hospitality management company in the country. The company's portfolio features more than 7,000 guest rooms, 10 golf courses and 14 full-service spas. Destination Hotels & Resorts properties are located in key metropolitan and resort markets including Washington, D.C., Los Angeles, Houston, Denver, San Diego, Santa Fe,Aspen, Austin, Phoenix, Palm Springs, Maui and Lake Tahoe. The company is a subsidiary of Los Angeles-based investment, development and management firm Lowe Enterprises. For moreinformation on the properties in the Destination Hotels & Resorts collection, please visit www.destinationhotels.com.

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