Richfield Hospitality to Operate La Posada de Santa Fe Resort in New Mexico

Committed to positioning the eclectic resort as Santa Fe's finest leisure destination

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. November 25, 2013

SANTA FE, NM / DENVER, CO - November 25, 2013 - Richfield Hospitality, a leading hotel management company, today announced that it has been retained by a venture sponsored by 1754 Properties LLC to operate La Posada de Santa Fe Resort and Spa in Santa Fe, N.M. Led by new ownership and operator, the hotel will undergo repositioning activities to establish the property as the premiere leisure destination in the heart of downtown Santa Fe in the Plaza district and the closest full service hotel to Canyon Road.

"La Posada is a very special resort that celebrates the art of fine living and the best in hospitality," said Joe Smith, CEO of 1754 Properties. "Richfield's success with comparably positioned, upper upscale and luxury hotels and their innovative systems made them the perfect management partner for this one-of-a-kind resort."

"This hotel enjoys a deservedly stellar reputation and a devoted following of visitors and locals alike," said Greg Mount, president of Richfield. "Our new repositioning plan will elevate the hotel to a global market. We are grateful to be entrusted with this world-class asset and look forward to employing our best-in-class technologies and proprietary management programs to expand its reach."

Known as "The Art Hotel," La Posada de Santa Fe Resort and Spa is located in downtown Santa Fe within walking distance of more than 200 of the art galleries and museums for which the city is known. Remaining true to its history as a private estate that supported artists by providing housing and studio space, the hotel boasts a curated collection of internationally celebrated American artists.

The hotel's emphasis on the art of fine living is carried out in its three dining options, with a Wine Spectator-rated cellar. La Posada's spa features locally-inspired treatments using native ingredients and products and was recently recognized as the Best Spa on the Discovery Channel's "Best of New Mexico" special. Weddings, meetings and special events have a gracious and elegant home using the hotel's 4,500 square feet of flexible, all-weather, meeting space. Lavishly appointed guest rooms, many with patios and/or fireplaces, and a heated outdoor saline swimming pool give guests the tranquil oasis they desire from a visit to Santa Fe.

About Richfield Hospitality

Richfield Hospitality, Inc. is a leading hotel management company with a premier track record of maximizing profitability and improving asset values for hotel owners. From hotel operations and property management to electronic distribution and interactive marketing, Richfield achieves superior operating results through its strong commitment to guests, employees and owners. Based in Denver, Richfield is part of City Developments Limited, one of the world's largest real estate, hotel investment and technology conglomerates with a market capitalization exceeding US$6 billion. Additional information about Richfield Hospitality may be found at the company's website www.richfield.com.