TERRANEA RESORT PREPARES FOR JUNE 2009 OPENING AS TEAM TERRANEA BRINGS ON ALL-STAR PLAYERS

Shooting Star Ron Sandvig Promoted to Vice President of Sales

Rancho Palos Verdes, Calif. - November 13, 2008 - Terranea, a nearly $500 million oceanfront resort development in Rancho Palos Verdes, California, continues to build its stellar sales and marketing team through a milestone promotion and the hiring of bright, seasoned professionals.Managed by Destination Hotels & Resorts, the 102-acre luxury resort is situated along the California coastline in Palos Verdes, just south of Los Angeles. The 582-room property is scheduled to open in 2009. Terranea's Vice President of Marketing Kathy Van Vechten recently made the following announcements.

New Team Members

Raffaella Manetti joins the Terranea sales team with a dual role as Director of Leisure Sales for the property as well as National Director of Leisure Sales for Destination Hotels and Resorts. This demanding role could only be filled by a professional with the type of extensive experience that Manetti brings. Her impeccable background in the luxury leisure market extends internationally having most recently represented the Sofitel Luxury Hotels, and prior to that Rosewood Hotels, The Pierre in New York (former Four Seasons), Hotel Plaza Athenee in Paris and Westin Demeure Hotels & Libertel Hotels, Europe. Manetti attended Cornell School of Hotel Administration, NY and is fluent in English, French, Italian and German.

"We could not have asked for a more ideal person to represent Terranea to the leisure market than Raffaella," said Ron Sandvig, vice president, sales. "Her additional role with DH&R is a testimony to her reputation and ability in the field, and we are proud to welcome her to Team Terranea."

Melisa Rodgers joins Terranea as National Sales Manager responsible for the Northern California and Pacific Northwest region as well as the west coast entertainment industry. Most recently from the Sofitel Los Angeles, Rodgers was formerly with sister DH&R property Estancia La Jolla Hotel, San Diego where she was the Director of New Business from 2004 to 2007. Prior to that, she pre-opened the St. Regis Monarch Beach and spent 13 years with Ritz-Carlton Laguna Niguel.

Jeffrey Martin joins Team Terranea as Director of Revenue Optimization. Martin comes to the property with a unique understanding of the market having most recently opened the Grand Del Mar, San Diego. His southern California experience also includes the St. Regis Monarch Beach and Manchester Grand Hyatt. As a former sales manager in the hospitality business, he brings the knowledge and well-rounded understanding of the business to his position.

Promotion

Ron Sandvig has been promoted to Vice President of Sales from Director of Sales, a position he had held since joining Terranea as the first employee in July 2006. This promotion reflects Sandvig's strengths for hiring strong sales team members and mentoring them for best results. Alone on site for more than a year, Sandvig kept things running smoothly while traveling extensively to represent the resort. Sandvig is able to close deals, has a great following with clients and is well respected in the industry.

"The group pace will exceed forecast by the end of this year, even in these tough times, and Ron deserves the credit for this success," said Van Vechten of the booking status at Terranea. "First class groups, top associations, Fortune 500 companies, and incentives are all booking in anticipation of the vision Terranea promises to deliver."

Sandvig brings more than 33 years of hospitality sales experience to Terranea. Prior to joining Terranea, he spent 10 years with Starwood Hotels & Resorts Worldwide focusing sales efforts on the 76 four- and five-star hotels and resorts in the company's St. Regis and Luxury Collection brands.

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 treatments 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 resort 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 in suburban 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 6,000 guest rooms, 10 golf courses and 12 full-service spas. Destination Hotels & Resorts properties are located in key metropolitan and resort markets including Washington, D.C., Houston, Denver, San Diego, Santa Fe, 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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