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SALES BEGIN FOR THE RITZ-CARLTON CLUB, VAIL

VAIL, Colo. – February 5, 2009 – Located in Vail, Colo. – repeatedly ranked the number one ski destination in the United States by readers of Ski magazine – The Ritz-Carlton Club, Vail is commencing sales for its fractional ownership interests in February 2009. Initial pricing starts in the mid $200,000s per deeded, 21 day interest.

Perfectly situated near the proposed gondola and co-located with The Ritz-Carlton Residences, the property will afford Members all the comforts of a second home coupled with the legendary, personalized services and amenities of The Ritz-Carlton. The Club residences will incorporate spacious two-, three- and four-bedroom floor plans ranging from approximately 1,300 to 2,874 square feet, with magnificent views of Vail Mountain. Furthermore, they will boast fully-equipped kitchens with gourmet appliances and granite counters, beautifully-appointed room finishes inspired by contemporary Alpine-style architecture, fireplaces, coffered ceilings, hardwood flooring in living areas and high-speed Internet access.

"The Ritz-Carlton Club, Vail is a tremendous new addition to our portfolio," said Peter J. Watzka, executive vice president and chief operating officer for The Ritz-Carlton Development Company, Inc. (an affiliate of The Ritz-Carlton Hotel Company, L.L.C.). "We already have two exclusive Clubs in Colorado located in Aspen Highlands and Bachelor Gulch. Vail is yet another addition to the collection and will add to the unparalleled mountain experiences we offer our Members."

The Ritz-Carlton Club, Vail is anticipated to include a variety of luxurious appointments and distinctive experiences, including: a dedicated concierge staff offering assistance with pre-arrival provisioning of the Member’s residence; twice daily housekeeping; ski concierge; fitness facility with a movement studio; Ritz-Carlton spa services and treatment rooms; Ritz Kids program; great room with a fireplace and bar; library; an outdoor heated pool and whirlpool spa; fire pit and a heated underground garage with valet parking. Occupancy is scheduled for late 2010.

With an annual average of 346 inches of powder, more than 5,200 skiable acres, expansive back bowls, 15 miles of recreation paths and surrounded by 350,000 acres of national forest, Vail has something for every member of the family. Activities include tubing, ski biking, dog-sledding and ice skating. In the summer months, golf, whitewater rafting, hiking and horseback riding are popular activities. Not only is the new Ritz-Carlton Club, Vail located within the revitalized LionsHead Village as part of the EverVail project, the resort will also be within walking distance of world-class shopping and dining experiences.

About The Ritz-Carlton Club The Ritz-Carlton Club is a deeded, fractional ownership real estate offering combining the benefits of vacation home ownership with personalized Ritz-Carlton services and amenities. Designed as a private club, Members have the opportunity to access their luxuriously-appointed home Club or other Ritz-Carlton Clubs through reciprocal use privileges in accordance with reservation procedures. Members also have the ability to utilize additional time as available.

For more information, please visit www.rcc-vail.com

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