Portfolio to Manage Seven Gables Inn

Pacific Grove, California

. October 14, 2008

OAK BROOK, IL, July 15, 2008. Oak Brook-based Portfolio Hotels & Resorts announced today the addition of the Seven Gables Inn to its management portfolio. The intimate upscale 25 room Inn located in Pacific Grove, California will become part of the Inns of Monterey, a collection of boutique hotels and inns that includes the Hotel Pacific, Monterey Bay Inn, Spindrift Inn and Victorian Inn, also managed by Portfolio Hotels.

"We are excited to welcome this historic luxury property into the 'Portfolio Hotels' family," stated Helmut Horn, President of Portfolio Hotels & Resorts. "The highly regarded Seven Gables Inn will allow us to further enhance our presence on the Monterey Peninsula and complement the destination marketing expertise we've collected over two decades operating in this area."

Located just south of Monterey's Cannery Row on the spectacular rocky shoreline of Pacific Grove, Seven Gables was built as a private mansion in 1886. Opening as a family-run inn in 1982, it has been expanded to encompass a total of seven buildings and has been designated by American Historic Inns as "one of the 10 most romantic inns in America."

Inns of Monterey area general manager Randy Venard will oversee all hotel operations with assistant manager Nancy Borino. The inn is well known for its outstanding personal service, spectacular ocean views, romantic accommodations and colorful gardens.

In addition to the four boutique Inns of Monterey hotels, Portfolio Hotels & Resorts currently manages additional properties in California including the upscale Harvest Inn in St. Helena, the Orchard Hotel and Orchard Garden Hotel in San Francisco, and the Radisson Hotel and Doubletree Hotel at LAX. The company also has a strong presence in Chicago, with management of four hotels including the historic Ambassador East and legendary Pump Room, and the soon-to-open InterContinental Chicago O'Hare.

For more information on Seven Gables Inn, visit www.pginns.com or call 831-372-4341.

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