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CRAIG SACCO NAMED GENERAL MANAGER OF THE RITZ-CARLTON CLUB AND RESIDENCES, LAKE TAHOE

NORTH LAKE TAHOE, Calif. – August 24, 2009 – Craig Sacco has been appointed general manager for The Ritz-Carlton Club and The Ritz-Carlton Residences, Lake Tahoe Sacco is responsible for overseeing club and residential operations for the 25 fractional (78 residences at build out) and 23 whole ownership residences scheduled to open this December at The Ritz-Carlton Highlands, Lake Tahoe.

"We are very excited to have Craig Sacco join us as general manager of The Ritz-Carlton Club and Residences,” said John Hearns, vice president Ritz-Carlton residential operations. “Craig brings over ten years of experience in the luxury hospitality field with proven leadership skills, and he understands how to anticipate and create The Ritz-Carlton mystique that our Members and Owners expect while they are in-residence. We look forward to Craig making The Ritz-Carlton Club and Residences in Lake Tahoe the benchmark for our brand."

Sacco joined The Ritz-Carlton Hotel Company, LLC in 1999 at The Ritz-Carlton, Philadelphia as a bellman. He transferred to The Ritz-Carlton Coconut Grove, Miami in 2002, where he was promoted over four years to director of loss prevention and quality for the 115-room hotel and 224 residences.

Sacco earned an associate’s degree in specialized technology, culinary arts, and food and beverage management from Pennsylvania Culinary Institute, and holds a bachelor’s degree in hotel management from Widener University in Philadelphia. He furthered his development through hospitality-related certifications with The American Hotel & Lodging Educational Institute. Sacco enjoys participating in outdoor sports in his free time.

The Ritz-Carlton Highlands, Lake Tahoe is the first new-build resort development in the Lake Tahoe area in decades. Anticipated to be the premier Northern California refined mountain retreat, The Ritz-Carlton will introduce its legendary service in December 2009, a service level before unseen in Lake Tahoe. The $300 million project, situated mid-mountain in the Northstar-at-Tahoe ski area will feature ski-in, ski-out access with mountain valet services, Manzanita, the resort’s signature restaurant created by renowned San Francisco chef Traci Des Jardins, a 17,000 square foot spa and fitness center and preferred access to the Old Greenwood and Coyote Moon golf courses. An inter-mountain gondola will connect guests between the nearby Village at Northstar and The Ritz-Carlton Highlands, Lake Tahoe resort. Perched slope-side within a 15 minute drive of both Lake Tahoe and the historic town of Truckee, the year-round destination includes 170 guest rooms, 23 private Ritz-Carlton Residences and 25 Ritz-Carlton Destination Club residences. The resort is currently under construction and is on schedule to open its doors in time for ski season later this year.

About The Ritz-Carlton Destination Club The Ritz-Carlton Destination Club is an equity-based luxury vacation program where Members select either a Home Club Membership which provides a titled residence and usage at a property they can return to every year, or a deeded Portfolio Membership which affords the opportunity to discover a wide variety of locations and experiences. Combining an innovative choice for luxury vacations at some of the most sought-after destinations in the world and coupled with the legendary services of The Ritz-Carlton Hotel Company, LLC. The Ritz-Carlton Destination Club offers an inspirational vacation lifestyle tailored to each Member’s expectations. For information, please visit www.ritzcarltondestinationclub.com. The Club can also be found on Facebook and on Twitter -- @RitzCarltonClub.

The Ritz-Carlton Residences In the world’s most picturesque cities and resort destinations, The Ritz-Carlton redefines the concept of an elegant lifestyle with whole ownership residences. Owners enjoy all the legendary amenities and services, managed by a dedicated residential team, that are the hallmarks of The Ritz-Carlton. For information, please visit http://www.ritzcarlton.com/en/RealEstate/Residences.htm.

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