Ritz-Carlton, Dove Mountain to Open in 2009

Project Largest in The Ritz-Carlton Portfolio in the Continental U.S. With Resort Golf Club and Resi

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. October 14, 2008

OCTOBER 18, 2007. The Ritz-Carlton Hotel Company, L.L.C. will join with Cottonwood Properties and Greenbrier Southwest Corporation to open The Ritz-Carlton, Dove Mountain, a 250-room golf and spa resort, along with single-family residences in the high Sonoran desert, northwest of Tucson, Arizona in the scenic town of Marana. Scheduled for a late 2009 opening, The Ritz-Carlton, Dove Mountain will anchor its largest branded resort/residential community in the continental U.S. managed by the award-winning luxury hotel company. Encompassing 850 acres within the Dove Mountain master-planned community, The Ritz-Carlton project will be the ultimate in luxury vacationing as well as luxury living in the high Sonoran Desert.

"We have long hoped to open a world-class resort in the Arizona desert, and we believe the Dove Mountain project, which includes two Jack Nicklaus Signature golf courses and a 17,000 square foot spa, will appeal to affluent leisure travelers as well as groups seeking a resort for meetings in a luxury environment. For homeowners desiring either a vacation retreat or a retirement destination, the Dove Mountain location offers the serenity of an exclusive desert setting and private homes, plus the added convenience of the city of Tucson less than thirty minutes away," said Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company.

The initial investment in the project's hotel, golf club and infrastructure totals over $276 million, and the Phase I residential program alone represents more than $220 million of sales value in homes and lots. The project marks a collaboration between The Ritz-Carlton Hotel Company, L.L.C. of Chevy Chase, MD, Cottonwood Properties of Tucson, and Greenbrier Southwest Corporation of Scottsdale. The Ritz-Carlton Hotel Company, L.L.C., through an affiliate, is a significant owner in the hotel as well as manager of the golf club and residences.

The Ritz-Carlton, Dove Mountain

In line with the global hotel company's evolving design philosophy to offer hotels with an authentic "sense of place", The Ritz-Carlton, Dove Mountain -- designed by HKS Hill Glazier Architects of Palo Alto, California -- will be a low-rise, four story building embracing the style and feel of the desert southwest. The main building of adobe block, straw-flecked stucco, clay tile and native stone will include 226 lavish guest rooms and suites. Separate buildings nearby will feature 24 individual casita rooms and suites. Every guestroom and suite will offer views of the expansive desert terrain including lush desert vegetation, rugged rock formations, and ancient petroglyphs. In addition to the open space within Dove Mountain, the 2,400-acre Tortolita Preserve borders the southern edge of Dove Mountain. The Tortolita Mountain Park borders Dove Mountain to the north, offering 3,000 undisturbed acres and some of the most eye-pleasing vistas in the Southwest.

The Ritz-Carlton, Dove Mountain will offer a range of amenities and features to appeal to the luxury seeking traveler market. Group meetings and special events, including weddings, will have a variety of spaces to select from, including two ballrooms of 9,000 and 4,800 square feet. Three restaurants from gourmet to casual poolside grill will all include al fresco dining to enjoy the desert vistas and sunny, year-round weather.

The 17,000 square foot spa and fitness center will feature an array of treatments and special services from wellness counseling to beauty and anti-aging therapies. Twenty miles of hiking trails wind through the desert. Wood-burning firepits provide a unique opportunity to watch the sun set over the desert. Tennis, swimming, and biking will add to the recreational opportunities at the resort.

The Ritz-Carlton Golf Club, Dove Mountain

For every golfer, whether a novice or pro-am caliber player, the Jack Nicklaus Signature Golf Courses will challenge their skills amidst the scenic desert terrain. Twenty-seven holes of golf are already under construction, scheduled for completion in late 2008. An additional nine holes is planned for 2010. The Ritz-Carlton Golf Club, Dove Mountain will host the World Golf Championships-Accenture Match Play Championship in February 2009, posing a significant challenge to the world's best players.

"Golf course design has been a blessing for me. It has allowed me to take what I learned playing the game of golf and apply it to a piece of ground to create a legacy that will live well beyond what I accomplished as a golfer. If I can design The Ritz-Carlton, Golf Club, Dove Mountain to take advantage of its spectacular high desert setting and beautiful vistas, while integrating solid strategy and good, fair, golf strokes, then I've done what should be done," said Nicklaus describing the $60 million facility, which will also include an elaborate Clubhouse complex, complete with swimming pools, dining, and fitness center.

Implementing the Signature design by Jack Nicklaus at The Ritz-Carlton, Dove Mountain are Heritage Links of Houston, which is constructing the initial 18 holes of golf, and Weitz Golf of Phoenix, which is building the third nine holes. The clubhouse complex is designed by Douglas Fredrikson Architects with interiors by Studio4design, both of Phoenix. Landscape architecture is by Neill/Vecchia & Associates of Scottsdale, and Lloyd Construction Company, Inc., of Tucson is the clubhouse general contractor. Construction financing for The Ritz-Carlton Golf Club, Dove Mountain is provided by a consortium of lenders headed by Compass Bank of Tucson.