Premier Adirondack Hotel Being Sold Through Garrett

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. October 14, 2008

BURLINGTON, VT, September 14, 2006. The Garrett Hotel Group, premier luxury hotel group based in Burlington, Vermont, and The Conservancy & Sporting Society, sponsors of the Guggenheim Foundation for International Conservation, together proudly announce today that The Point, the nation's finest small luxury hotel, and its associated lands, will be sold to The Conservancy & Sporting Society before year-end of 2006.

The Point, one of the first hotels in United States to be inducted as a member of Relais & Ch^ateaux, is consistently rated as one of the best hotels in the world and widely considered America's first truly luxury "boutique" property, as well as the originator of the concept of Adirondack rustic luxury. It commands the world's highest average daily rate, and has become the standard by which most other exclusive hotels are measured.

According to The Conservancy's co-founder and C.O.O., James Millership, "We are buying The Point because The Conservancy & Sporting Society is looking very, very long-term. To include this world-renowned property in our portfolio sets the stage for us to become the world's foremost member-based conservation land-holder. We are so pleased that The Garrett Hotel Group will continue to operate The Point, which will remain open to all, at the exacting standards that has made it a legend in the hospitality industry. We are also delighted The Garrett Hotel Group will help set those same standards on other Conservancy properties around the world."

When asked why David Garrett agreed to sell The Point after all these years, he replied, "The Point is truly an extraordinary place and an extraordinary experience. There was no higher level for us to take The Point, so the opportunity to protect it forevermore, while continuing to operate it and have the honor of working with the Conservancy was something we felt we couldn't pass up. Great hotels are built only with great passion and this is a way for us to solidify all those years and all that passion. We are delighted to pass the stewardship of this legendary hotel, a former Rockefeller residence and one of the last true Adirondack Great Camps, onto The Conservancy and Sporting Society."

The Conservancy & Sporting Society is a collection of the world's most precious sporting and recreational properties. It is committed to reducing the human footprint, to rebuilding habitats, fish and game stocks, and to conserving wild lands. The Conservancy is a membership-based organization dedicated to permanently protecting nature's masterpieces. The Conservancy & Sporting Society is in the process of acquiring up to 45 properties world-wide.

The Guggenheim Foundation for International Conservation and the associated Guggenheim Prize is sponsored and supported by The Conservancy & Sporting Society. It is awarded to one or more individuals who have made an outstanding contribution to the conservation of wildlife and wild lands. The Conservancy will bring world attention to the achievements of these creative and daring individuals, in the hope of inspiring others to take bold action.

Philip Wood, President and C.E.O of The Garrett Hotel Group, said, "We are extremely pleased about working with The Conservancy & Sporting Society and being a part of the nomination committee for the Guggenheim Prize. Its unique long-term vision and vast capital will make it a force in the world of conservation as well as an unequaled opportunity for its members."