VICEROY SNOWMASS PREPARES FOR ITS DEBUT IN DECEMBER 2009 WITH APPOINTMENT OF JEFF DAVID AS GENERAL MANAGER

Snowmass, Colorado (March 3, 2009) - Related WestPac and Kor Hotel Management are proud to announce that Jeff David has joined Viceroy Resort Residences at Snowmass as General Manager. Viceroy Snowmass will open in late 2009 as the anchor ski-in/ski-out hotel in the new Snowmass Base Village. The opening of Viceroy Snowmass marks Kor Hotel Management's first mountain resort, and will bring the brands' signature fusion of glamorous style, provocative design and innovative culinary experiences to Snowmass.

Snowmass Base Village Developer Related WestPac and Kor Hotel Management are committed to providing guests of this hotel with an unparalleled experience, and the appointment of Jeff David underscores that commitment.

"Mr. David's track record with hotel openings and luxury properties is impressive," said Nicholas Clayton, President of the Kor Hotel Management. "He is an ideal choice to oversee the launch of our first mountain resort."

Jeff David comes to Snowmass with a rich background in luxury hotels, with more than 15 years of domestic and international experience. He comes from Viceroy's sister opening property, Viceroy Anguilla, a 35 acre $500 million dollar resort in the British West Indies and he will continue to raise the bar higher at Viceroy Snowmass. During his tenure at Kor, he also served as the interim General Manager at Viceroy Palm Springs and helped re-launch The Tides South Beach in Miami.

He began his career in 1992 with the prestigious Regent Beverly Wilshire – a Four Seasons Hotel on Rodeo Drive in Beverly Hills. He was promoted in 1997 to Four Seasons Boston where he was an integral part of the 1999 management team that upgraded the Four Seasons Boston to the only Five-Star, Five-Diamond property in New England. After nine years with Four Seasons Hotels ending at the Four Seasons Nevis, David fell in love with the Caribbean and accepted the position of Food & Beverage Director at Little Dix Bay a Rosewood Resort, in the British Virgin Islands. He spent two seasons as F&B and Operations Manager at Cap Juluca on Anguilla, a member of Leading Hotels of the World and rated a unanimously rated #1 property in the world by four major travel-industry publications during his tenure. He then accepted General Manager roles at Ocean Edge Resort on Cape Cod and the Chanler in Newport, Rhode Island.

Before accepting the position at Viceroy Anguilla, he was instrumental in assisting Manhattan Real Estate guru Richard Cohen of Capital Properties, in the acquisition and transition of the famed Chatham Bars Inn on Cape Cod.

"I have loved my time in the Caribbean," said David, "but I am excited about moving to the mountains and opening Viceroy Snowmass. With an innovative style, unique design and premier location, Viceroy Snowmass will be unrivaled among mountain resorts."

Viceroy Resort Residences at Snowmass will be an elegant mountain retreat in the inimitable Viceroy style. The inspiring design will be complemented by the intuitive service, innovative culinary and lounge options and holistic wellness philosophy that underscore the Viceroy experience. The 268 room ski-in/ski-out condominium hotel residences will be managed by Kor Hotel Management. Viceroy Snowmass will offer owners and guests unparalleled mountain resort amenities including a lobby restaurant, private dining rooms, bar and lounge, a spa, fitness center, swimming pool and pool cafe, après ski bar, kids club, casual and fine dining restaurants, flexible conference space and ski valet facilities.

Designed by acclaimed design visionary Jean-Michel Gathy of the Malaysia-based powerhouse, Denniston International, Viceroy Snowmass will be an inspirational retreat designed to accommodate the signature Viceroy amenities and services envisioned for one of America's first LEED-certified Silver hotels. Denniston's portfolio includes the One and Only at Reethi Rah (Maldives), Aman Resorts in Indonesia, Turks and Caicos and India, and The Setai in Miami's South Beach.

Kelly Wearstler, who designed the Viceroy's in Santa Monica, Palm Springs and most recently Miami, will spin her award-winning design sensibility to dress the striking mountain setting of Viceroy's pool terrace, with its convivial café and bar. As the departure point for her signature eclectic style, Wearstler will re-imagine the beauty of the Rockies through a modern lens, applying a sumptuous color palette of whites, pale blues and greens layered against rich organic finishes.

Studios to three-bedroom condominiums are currently available beginning at $570,000.

About Related WestPac
Related WestPac is a joint venture partnership between Related Companies, a fully integrated private national real estate development company, and WestPac Investments Colorado LLC, a diversified real estate investment and development company. Related WestPac owns the three principal commercial neighborhoods surrounding Snowmass' world-class ski mountain – the new Base Village providing a new entrance to the mountain, West Village (Snowmass Mall), which is the traditional center of Snowmass, and Snowmass Center, which presently provides local-serving retail and offices. Related WestPac in collaboration with the Town of Snowmass Village is creating an 80-acre master planned development befitting the world class mountain resort, improving and expanding the resort's amenities, while integrating and respecting the scenic mountain landscape.

Related WestPac is staunchly committed to the sustainable design, construction and operations of its developments. The Snowmass redevelopment will not only meet the guidelines of the new LEED for Neighborhood Development pilot program, but it will also incorporate carbon-free renewable energy sources, implement cleaner construction practices and individually LEED-certify each new building going forward.

To ensure the realization of this vision, Related WestPac will draw upon Related's significant expertise in developing successful residential and mixed use developments, notably Time Warner Center in New York, CityPlace in West Palm Beach, and a vast luxury residential condominium and rental portfolio including Tribeca Green, the second green residential building in the United States, augmented by WestPac's experience as a multi-faceted resort developer in America's most exclusive markets. For information visit snowmassliving.com.

About Viceroy
Viceroy Hotels, Resorts & Residences captivate discerning cultural connoisseurs with pleasures and privileges that transcend the expected. In skyscraping cities and pacesetting playgrounds, each Viceroy destination inspires a taste for the remarkable. Established in 2001, Viceroy's original properties debuted in Santa Monica and Palm Springs; its newest incarnations include resort addresses in Miami's Icon Brickell enclave, on Anguilla in the British West Indies (Summer 2009) and in Aspen/Snowmass (December 2009). As the decade continues, additional Viceroy hotels, resorts and residences will be developed in Vietnam, Mayakoba on Mexico's Riviera Maya and Al Sowwah Island in Abu Dhabi.

The official site for the Viceroy brand is viceroyhotelsandresorts.com.