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 Perry Sorenson Retiring After 15 Years as EVP and COO
of Outrigger Hotels & Resorts; Barry Wallace Promoted
to EVP of Hospitality Services
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Honolulu, Oahu, Hawaii - December 14, 2005 - Outrigger Enterprises, Inc. has announced plans for further expansion in Hawaii and the Pacific as well as new initiatives into Asia and the West Coast of North America. The moves are designed to take the company into the "next phase" of growth and firmly position it as the premier hospitality company in the region. The new strategic plan was unveiled at Outrigger's world-wide managers' meeting held in Waikiki and web cast around the world to the company's many locations.

"We've successfully grown Outrigger to become one of the largest, fastest-growing, privately held lodging and hospitality companies in the Pacific," said David Carey, President and Chief Executive Officer of Outrigger Enterprises. "Our new strategy calls for us to continue to build on that rich legacy and to deliver the Outrigger promise of an authentic vacation experience for our guests, both here in Hawaii and to new destinations throughout Asia and the Pacific," Carey said. The company noted that with the huge, long-term growth potential of travel in and around Asia, Outrigger will have great opportunity to apply its unique brand of hospitality management. 

Carey also highlighted the implementation of a financial re-engineering plan under the direction of Chief Financial Officer Mel Wilinsky. "Our new approach will enable the company to raise significant capital to fund its growth plans, diversify its investment holdings and yet preserve our management presence in Hawaii. The strong capital market climate in Hawaii has enabled us to attract financial partners from around the world to invest in our Waikiki Beach Walk project and to explore new hospitality opportunities in Hawaii and the Pacific," said Carey. 

"Even though we are expanding, our deep commitment to Hawaii and its people has not changed," added Carey. "We are excited to share Outrigger's unique brand of aloha and exemplary service throughout the Pacific Rim."

Outrigger also announced some personnel and management structure changes in conjunction with the unveiling of its new strategic plan. 

In an emotional speech to the company's management group, Perry Sorenson announced he is retiring after 15 years as Executive Vice President and Chief Operating Officer of Outrigger Hotels & Resorts, effective December 31, 2005, in order to spend more time with his family. Sorenson will remain as a senior advisor to the company to help ensure a smooth transition. Sorenson helped expand the state's largest hotel chain from being exclusively in Waikiki, to becoming a dynamic force in the Pacific. Today Outrigger has nearly 60 properties open or under development throughout the Pacific, including in Australia, New Zealand, Fiji, French Polynesia and Guam, among others. 

"We weathered the tough times, including the Gulf War, and grew the company to become a hospitality leader in the Pacific," said Sorenson. "I am extremely proud of what we've accomplished, and it feels good knowing I am leaving the company when it is at its zenith. I know the tremendous Outrigger team will continue to build on the vision we began 15 years ago and will take the company to even greater heights," said Sorenson.

Barry Wallace, currently Senior Vice President of Operations, is being promoted to Executive Vice President of Hospitality Services. In his new role, Wallace will assume the majority of Sorenson's responsibilities which include all of the company's operations, sales and marketing functions. Wallace will help guide the repositioning and opening of several properties in Outrigger's Waikiki Beach Walk project and help to implement the company's new strategic growth plan. 

"I welcome the opportunity to build on Perry's vision and to help take Outrigger into a new era of growth," Wallace said. "We have a tremendous team, and Outrigger is extremely well positioned to continue to expand beyond Hawaii's shores," he added.

Mel Kaneshige, currently Senior Vice President in charge of the company's real estate assets, will take on the additional responsibilities for new business development. As Executive Vice President for Real Estate and Development, Kaneshige will continue to ensure the successful completion of the Waikiki Beach Walk project and will head up the effort to find new projects to implement the company's growth plans. Bill Henderson, current Vice President of Development, and newly hired Darren Edmonstone, Vice President of Asset Management Planning, will assist him in this effort. 
 
"We've had a successful track record of growth," said Carey. "Our new plan calls for us to aggressively add even more properties to our portfolio of destinations and to export our unique Outrigger brand of hospitality throughout Asia and the Pacific. As the Asian and Pacific markets grow and mature as tourist destinations, we want Outrigger to be right there with them," added Carey.

About Outrigger Enterprises, Inc.
Outrigger Enterprises, Inc. is one of the largest and fastest-growing privately held lodging and hospitality companies in the Pacific. Founded more than 55 years ago in Honolulu, Hawaii, the company successfully combines hospitality with real estate and retail investment opportunities.Outrigger currently operates or has under development nearly 60 properties with close to 12,000 rooms in Hawaii, Australia, New Zealand, Fiji, Tahiti and Guam under a variety of brands, including Outrigger Hotels & Resorts, OHANA Hotels & Resorts, Outrigger Condominium Collection, Outrigger Resort Club by Fairfield, and Embassy Suites Hotels.* Outrigger also has a substantial real estate portfolio and has extensive experience in the renovation, redevelopment and repositioning of hospitality and retail real estate. For on-line information, log on at www.outrigger.com. *Embassy Suites is a registered trade mark of Hilton Hotels Corporation.

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Contact:

Nancy Daniels, APR
Public Relations Manager
Outrigger Hotels & Resorts / OHANA Hotels & Resorts
2375 Kuhio Avenue
Honolulu HI 96815-2992
PH 808-921-6839
FX 808-921-6901
EM nancy.daniels@outrigger.com
www.outrigger.com

Also See: Outrigger Enterprises Breaks Ground On Waikiki Beach Walk / April 2005
Outrigger Enterprises to Purchase the 500 room Waikiki Beachcomber Hotel; Majority of Beachcomber Employees to be Offered Jobs with Outrigger / August 2005

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