Sage Names Steven Marx as COO of Sage Hotels

Will Oversee a Portfolio of 52 Hotels

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. November 10, 2008

DENVER, CO, November 06, 2008. Sage Hospitality, a national leader in hotel development and management, has announced that Steven Marx is joining Sage as Chief Operating Officer of Sage Hotels. Reporting to Sage President and CEO Walter Isenberg, Marx will oversee hotel operations for Sage's 52 hotels in 22 states. He will have responsibility for overall performance of the Sage hotel portfolio including full service hotels, extended stay hotels, the water Park division (CoCo Key Water Resorts) and the Sage Independent Hotel Collection, Sage Hospitality's boutique hotel division.

"Our significant growth and success the past few years with our expanded full service and boutique hotel portfolio has made this the perfect time to welcome Steven to our leadership team," said Isenberg. "Steven has extensive experience managing all areas of operations, sales and marketing, association management, and shared services. We believe he will help us continue to achieve our strategic goals and grow our national footprint, and he is a great fit with our innovative team."

As COO of Sage Hotels, Marx joins a restructured Sage leadership team. In addition to welcoming Marx, Sage has promoted Peter Karpinski to Chief Operating Officer Sage Restaurant Group (SRG). Karpinski will focus full-time on the restaurant and food and beverage operations for Sage hotels and restaurants nationwide working to expand this considerable opportunity.

Mr. Marx has had a distinguished career in developing and operating leading branded and boutique hotel brands. For the last 2 years, he has run his own company, Lifestyle Hospitality, where he developed new upscale lifestyle brands that combine adaptive reuse of historic buildings with a high profile and integrated spa and wellness program. Prior to launching his own company, Mr. Marx headed up Kimpton's Hotel Group, served as Senior Vice President of W Hotels, headed up operations for Loews Hotels & Resorts, and spent his first years with Hilton. In addition to his strong credentials, Mr. Marx has received significant industry recognition throughout his career. He and his wife will be relocating to Denver, Colorado.