Preferred Hotel Group's Global Expansion Gains Momentum

24 Hotels and Resorts Join in Third Quarter to Bring Total to 350

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. October 14, 2008

CHICAGO, IL, October 30, 2006. Global hospitality industry leader Preferred Hotel Group has added 24 hotels and resorts to its growing roster of international membership during the third quarter of 2006. Emerging as the world's most sought-after collection of independent hotels and resorts, Preferred Hotel Group now counts 350 members among its family of brands. Aligned with the needs of today's hoteliers and their guests, Preferred Hotel Group includes Preferred Hotels & Resorts, Preferred Boutique, Summit Hotels & Resorts, and Sterling Hotels.

"We could be growing faster, but we believe in being selective so that all new members enhance the quality of each brand," said John Ueberroth, Chairman and CEO of Preferred Hotel Group. "We're growing because we deliver results. REVPAR is up dramatically year-over-year and the addition of these new members enables us to add new programs that will further increase revenue."

Among the many notable additions during the third quarter are:

Preferred Hotels & Resorts

The Hempel, London, England

Red Rock Casino Resort Spa-Las Vegas, Nevada USA

Hotel Majestic, Barcelona, Spain

Mandarin Oriental, Washington DC USA

Hotel Mulia Senayan, Jakarta, Indonesia

Preferred Boutique

Alchymist Grand Hotel and Spa, Prague, Czech Republic

Fifteen Beacon, Boston, Massachusetts

Hotel Godin, Quebec, Canada

The Egerton House Hotel, London, England

Dream Bangkok, Bangkok, Thailand

Summit Hotels& Resorts

Hotel Raito, Salerno, Italy

Arctic Hotel Seattle, Seattle, Washington USA

Queen's Court- Hotel & Residence, Budapest, Hungary

Resort Suites of Scottsdale, Scottsdale, Arizona

Grand Sierra Resort & Casino, Reno, Nevada

Sterling Hotels

Dream Castle Hotel, Paris, France

Esplendor Resort at Rio Rico, Rio Rico, Arizona USA

Hotel Alburquerque, Alburquerque, New Mexico USA

Park View Hotel, Chicago, Illinois USA

Hotel Inglaterra, Barcelona, Spain

Preferred Hotel Group has continued to expand on its services, as well as locations. Guests of any Preferred Hotel Group brand are eligible to enjoy benefits of the company's recently launched I PreferTM Global Guest Benefit Program. Custom benefits may include: early check-in/late check-out, space-available upgrades, complimentary airport transportation, and "two for one" spa treatments. Loyal guests and a growing membership of hotels and resorts in 52 countries around the world have made their preference clear - Preferred Hotel Group.

Preferred Hotel Group is a global leader in the hospitality industry. This creative, cutting-edge company is designed for a new era in travel - an era in which travelers embrace the individuality of distinctive hotels and resorts - yet desire a consistent commitment to excellence. The four brands of Preferred Hotel Group represent a collection of the finest hotels in the world and include Preferred Hotels(R) & Resorts, (www.preferredhotels.com); Preferred Boutique (www.preferred-boutique.com); Summit Hotels & Resorts (www.summithotels.com); and Sterling Hotels (www.sterlinghotels.com). Learn more at www.preferredhotelgroup.com.

CONTACT: Gina Galatro/Laura Mooney

Middleton & Gendron, Inc.

+1 (212) 284-9934/+1 (212) 980-9232

EMAIL: [email protected]/[email protected]

For high resolution imagery of our properties, please visit the Preferred Hotel Group Image Library at www.preferredhotelgroup.com/press.htm.