CNL Hotels & Resorts Selects Interstate to Manage the Claremont Resort & Spa

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. October 14, 2008

OAKLAND, CA, August 2, 2005. CNL Hotels & Resorts, Inc., the nation's second largest hotel real estate investment trust, and Interstate Hotels & Resorts , the nation's largest independent hotel management company, jointly announced today that they had entered into an agreement in which Interstate will manage the landmark Claremont Resort & Spa in California. The Claremont Resort & Spa marks the 24th hotel in the 100-property portfolio of CNL Hotels & Resorts that is being managed by Interstate Hotels & Resorts.

"Interstate is a leading operator of premier properties and we believe they will build upon the accomplishments of our prior manager and raise the Claremont to new levels of success," said Thomas J. Hutchison III, Chief Executive Officer of CNL Hotels & Resorts. "We are pleased with the opportunity to further our longstanding relationship with an experienced operator in Interstate, who has demonstrated a successful track record with destination resorts."

Beyond the 24 properties managed for CNL Hotels & Resorts, additional notable properties that are currently managed by Interstate Hotels & Resorts include: South Seas Resort in Captiva Island, Fla., The Charles Hotel in Harvard Square in Cambridge, Mass., The Muse in New York, N.Y., The Bishop's Lodge Resort & Spa in Santa Fe, N.M., and Laguna Cliffs Marriott Resort & Spa in Dana Point, Calif.

"We have an extensive background in the San Francisco market and currently operate five other hotels there," said Thomas F. Hewitt, Interstate's chief executive officer. "We believe we can add immediate value to this property through our proprietary operating and marketing programs and high guest- oriented service philosophy. We look forward to the opportunity to enhance this historic hotel's results and to further build on our relationship with CNL."

Proclaimed by architect Frank Lloyd Wright as "one of the few hotels in the world with warmth, character and charm," the Claremont Resort & Spa has presided over the Berkeley hills above San Francisco Bay since 1915. Inspired by Mediterranean villas and grand Victorian seaside residences, the hotel is surrounded by 22 acres of impeccably landscaped grounds. In addition to 279 rooms and suites, this urban resort offers 25,000 square feet of function space incorporating two ballrooms and stunning skyline views. Other key features include an acclaimed 20,000-square-foot spa, two swimming pools, 10 tennis courts and California cuisine at Jordan's, the East Bay's only Four Diamond restaurant.

A number of capital improvements at the Claremont Resort & Spa are planned, including exterior painting, pool deck improvements, meeting space renovations and enhanced bedding packages.

Safe Harbor Statement

This press release contains "forward-looking statements," within the meaning of the federal securities laws and regulations, about Interstate Hotels & Resorts and CNL Hotels & Resorts, Inc. These forward-looking statements are based on current expectations, estimates and projections about future events, including, but not limited to, the future management of the Claremont Resort & Spa. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially, including the volatility of the national economy, economic conditions generally and the hotel and real estate markets specifically, the aftermath of the war with Iraq, international and geopolitical difficulties or health concerns, governmental actions, legislative and regulatory changes, availability of debt and equity capital, interest rates, competition, weather conditions or natural disasters. Additional risks are discussed in Interstate Hotels & Resorts' SEC filings and CNL Hotels & Resorts, Inc.'s SEC filings, including their annual reports on Form 10-K for the year ended December 31, 2004. Interstate Hotels & Resorts and CNL Hotels & Resorts, Inc. disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein to reflect any change in their expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Although Interstate Hotels & Resorts and CNL Hotels & Resorts, Inc. believe their current expectations reflected in such forward- looking statements are based upon reasonable assumptions, they can give no assurance that expectations will be attained.