NEW YORK, NY, May 5, 2008. The New York Palace Hotel today announced the appointments of Christopher Burkhardt as Director - Human Resources and Alex Chaharmahalian as Director - Finance. Mr. Burkhardt joins The Palace from The Four Seasons Hotel in Philadelphia and Mr. Chaharmahalian joins from The Millennium UN Plaza Hotel. Both will report directly to Managing Director Niklaus J. Leuenberger and serve as members of the Palace Executive Committee.

"I am very proud that The Palace has a reputation that attracts some of the most respected and talented people in the hospitality industry," said Mr. Leuenberger. "With Christopher spearheading our recruitment initiatives and Alex guiding our fiscal operations, I am confident that our position in today's market will continue to grow even stronger."

In addition to his duties at The Four Seasons, Mr. Burkhardt served as Adjunct Instructor in Human Resources Management at Penn State University. Previously, he was the Assistant Director of Human Resources with The Waldorf=Astoria in New York and served as an Adjunct Instructor in Labor Relations at New York University.

Prior to his work with The Millennium UN Plaza, Mr. Chaharmahalian began his career in hospitality with a 14-year tenure with Omni Hotels that concluded with a seven-year stint as Controller of The Omni Berkshire Place in New York.