Coastal Purchased by Senior Management Team

Led by Yogi Hutsen, Coastal's President & Chief Executive Officer

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. October 14, 2008

SEATTLE, WA, August 25, 2006. Coastal Hotel Group, a full-service hotel management and development services company, has been purchased by its senior management team. The announcement was made by Yogi Hutsen, Coastal's President & Chief Executive Officer.

Says Hutsen, "This is an exciting new chapter for Coastal Hotels. Presently we're working on five new development deals - one each in California, Arizona, and Idaho, and two in Oregon. Coastal is also proud to be a preferred management company with Starwood Hotels & Resorts. Given the vision of our investor group and new access to capital, we are now positioned to take full advantage of Coastal's excellent reputation among hotel owners and developers, as well as our guests."

Hutsen, a thirty-year hospitality veteran, joined Coastal Hotels in 2004. Previously, Hutsen was COO for Noble House following five years as Regional Vice President for Starwood in Seattle. Other senior leaders are Ed Schwitzky, Senior Vice President Sales & Marketing, and Peter LaFemina, Chief Financial Officer. Schwitzky spent over twenty years with Westin Hotels & Resorts in sales and marketing leadership positions. LaFemina has more than twenty-five years of financial management experience in hospitality and gaming, including fifteen years with ITT Sheraton. Additional investors in Coastal include Frank Finneran, a long-time executive with Westin and experienced hotel developer, and Stuart Rolfe, a prominent Seattle attorney and President of Wright Hotels, Inc.

The company was acquired from former owners Don Simplot and Doug Toms for an undisclosed amount. Coastal Hotel Group currently manages seven hotels in four states.

Coastal Hotel Group Contracted to Manage the Historic Delta King Hotel, an 80-year-old Ship Permanently Moored in Sacramento, California Yogi Hutsen, Coastal's President & CEO. says, "The Delta King Hotel is a wonderful addition to the Coastal portfolio, both because of its uniqueness and location in California's capital city. In fact, the Delta King is a complete entertainment complex, with its 44 classic staterooms, famed Pilothouse Restaurant, and eight function rooms plus decks and landings providing more than 11,000 square feet of unparalleled banquet and meeting space. We are grateful to the Coyne family for entrusting Coastal Hotels to manage this special asset and value their continuing involvement in the Sacramento community."

Charlie Coyne, Chairman of the Delta King's Board of Directors adds, "Coastal's leadership impressed me with their extensive knowledge of hotel operations and marketing. I am confident our decision to have Coastal Hotels manage the Delta King will bring positive results for us, our employees, and our guests."

The Delta King is an authentic 285-foot riverboat. Together with its identical twin, the Delta Queen, the ships were christened on May 20, 1927 and began their daily river voyages between San Francisco and Sacramento. These royal vessels reigned on the Sacramento River until the late 1930s, when the depression and World War II signaled the end of the stern wheel era. Both the King and Queen were drafted into the US Navy to serve on San Francisco Bay as net tenders, floating barracks, troop transports, and hospital ships. At the conclusion of the War, the Delta Queen was taken via the Panama Canal to the Mississippi River where she is still in operation. The King was shuttled between Canada and California with visions of becoming a floating Ghirardelli Square or Chinese restaurant, these dreams dashed by the ship's disrepair and litigation. In 1984, after being partially submerged for eighteen months in San Francisco Bay, the Delta King was purchased by the Coyne family and towed to Sacramento. Following a $9 million dollar five-year long total renovation, the Delta King was returned to its original glory and reintroduced as the monarch of the Sacramento River. Today the Delta King is permanently moored in Old Sacramento, one of America's finest restored historical areas boasting river-front parks, museums and galleries, plus more than two-hundred specialty shops and restaurants.