The Ritz-Carlton Highlands, Lake Tahoe, a Ski-In, Ski-Out Resort and Spa Scheduled to Open on Northstar Mountain, Late 2009


CHEVY CHASE, MD — (MARKET WIRE) — 03/29/2006 — The Ritz-Carlton Hotel Company, L.L.C., East West Partners, and Crescent Real Estate Equities have signed a letter of agreement to develop a 173-room, ski-in, ski-out resort and 20,000 square foot spa at The Highlands in North Lake Tahoe, California on Northstar Mountain. Construction is expected to begin in summer 2007, with a scheduled late 2009 opening.

The Ritz-Carlton Highlands, Lake Tahoe will be the area’s first five star-caliber hotel. Plans call for a lavishly-appointed spa, with 16 treatment rooms, indoor and outdoor treatment spaces, private pool and whirlpool tubs. It will face to the south, offering guests spectacular mountain views. The project will also include 75 Residences at The Ritz-Carlton, and 78 Ritz-Carlton Club, fractional ownership residences. This will be the sixth hotel in the state of California for the award-winning hospitality company. Other locations include San Francisco, Pasadena, Marina del Rey, Half Moon Bay, and Laguna Niguel.

“We are pleased to join with East West partners in developing this prime recreational area in scenic Northern California,” said Simon F. Cooper, president and chief operating officer of The Ritz-Carlton. “They have an outstanding record of creating year round resorts recognized as the best for those seeking an exceptional luxury lifestyle experience. The hotel will also be an attractive venue for incentive and meeting groups, with a large spa and 11,000 square feet of conference and event space,” he noted.

Harry Frampton, founder and managing partner of East West partners, cited the design team of Mark Hornsberger and Stanford Hughes, for their plans to “bring a sophisticated Northern California sensibility to our rustic Sierra Nevada environment. East West partners is proud to partner with The Ritz-Carlton in developing this $300 million resort, whose amenities and attractions will include a new gondola to link the resort with the Village at Northstar, a complex of shops and restaurants, as well as an ice skating rink,” he said.

The Ritz-Carlton Highlands, Lake Tahoe will utilize native granite stone, recycled steel, and log and lumber from the Sierra Tahoe region. The mountain lodge ambience of the resort will follow in the tradition of the impressive structures built in the American West at the turn of the 20th century. A number of environmentally friendly design features will be incorporated into the resort’s overall design.

The Ritz-Carlton Club offers deeded, fractional ownership combining the benefits of second home ownership with the legendary service and amenities of The Ritz-Carlton Hotel Company. Designed as a private club, members have the opportunity to access their home Club or other Ritz-Carlton Clubs in ski, golf, beach or urban destinations. For information, call 800.278.0121 or visit www.ritzcarltonlife.com.

The Ritz-Carlton Residences are privately owned, luxury homes managed by The Ritz-Carlton. Located in both cities and resort areas, The Ritz-Carlton Residences offer owners access to special services and amenities including housekeeping, catering, and concierge. For more information, call 407.370.2121 or visit www.ritzcarlton.com.

The Ritz-Carlton Hotel Company, L.L.C. of Chevy Chase, Md., (USA) currently operates 61 hotels in the Americas, Europe, Asia, the Middle East and Africa. Over 20 projects are under development around the globe with hotel openings planned for Moscow, Ireland, and two in Beijing over the next year. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldrige National Quality Award, which recognizes outstanding customer service.

For more information contact The Ritz-Carlton toll free reservations at 1 (800) 241-3333, your travel consultant or visit www.ritzcarlton.com.

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