Robert M. Howard Promoted to CIO at Gold Key/PHR

D. Brian Carson Joins Company as Chief Financial Officer

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. June 08, 2010

VIRGINIA BEACH, VA - June 4, 2010 - Robert M. Howard, formerly Chief Financial Officer at Gold Key/PHR, has been named Chief Investment Officer for the company. The announcement was made by Gold Key/PHR Chief Executive Officer Bruce Thompson.

According to Thompson, Chief Investment Officer is a new position within the firm. In his new role Howard will evaluate and manage the company's various assets and their contributions to the overall performance of the organization. He will also be responsible for seeking out and evaluating new asset opportunities for growth and expansion and maximizing those assets' R.O.I. as they are brought into the company's portfolio.

Howard joined Gold Key/PHR as Controller in 1990 after several years in public accounting with Ernst & Whinney. He was subsequently promoted to Executive Vice President of Finance and Accounting in 1994 and Chief Financial Officer in 2000. He is a graduate of Washington & Jefferson College with a concentration in accounting. He holds degrees of Certified Public Accountant (CPA), Certified Financial Manager (CFM) and Certified Management Accountant (CMA). He serves as a Board Member on a number of professional, charitable and corporate organizations.

“We have ambitious plans to double the size of our company over the next 5 years,” said CEO Bruce Thompson. “That growth will come from maximizing our existing assets and from acquisition and creation of new assets that complement our portfolio. With 20 years at the financial helm of our company, nobody is better equipped to make that happen than Bob Howard.”

D. Brian Carson replaces Howard as Chief Financial Officer of Gold Key/PHR after several years in public accounting. He comes to Gold Key/PHR from Goodman & Company where he specialized in corporate financial audits, financial reporting, income tax reporting and financial forecasting. His primary focus while at Goodman & Company was in the timeshare, hospitality and hotel management industries. He also was active in mergers and acquisitions while at Goodman.

Carson, a Hampton Roads native, holds a Bachelor of Science degree in accounting from Virginia Tech and is a Certified Public Accountant (CPA). He is a member of various professional and civic organizations and has the distinction of being named the youngest partner at Goodman & Company in more than 40 years.

“We are building a management team for tomorrow,” Thompson said. “Brian Carson has been advising us on behalf of Goodman & Company for several years. His more than 10 years of experience with our company and other companies like ours will be invaluable as we pursue our plans for growth and expansion.”

About Gold Key/PHR
Gold Key/PHR Hotels and Resorts is the Virginia Beach oceanfront's number one employer with up to 2,000 associates in season. The company owns and operates seven properties in the Mid-Atlantic region and oversees approximately 1,700 rooms including the Hilton Virginia Beach Oceanfront. The integrated hospitality firm owns and/or manages hotels, vacation ownership resorts and leading area restaurants including Mahi Mah's, Catch 31 and Salacia. Gold Key/PHR Hotels and Resorts is an Equal Opportunity Employer. Visit us at www.goldkeyphr.com.