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GIC Real Estate Completes Acquisition of Three Iconic Waldorf Astoria Resorts
with No Impact to Existing Management Agreements

Hilton Worldwide’s Waldorf Astoria Brand
Continues to Operate the Arizona Biltmore,
the Grand Wailea Resort and La Quinta Resort & Club


MCLEAN, Va. - March 11, 2013 --GIC Real Estate, the real estate arm of the Government of Singapore Investment Corporation (GIC), has completed its purchase of three landmark resorts managed by the Waldorf Astoria Hotels & Resorts brand of Hilton Worldwide. They are: the 740-room Arizona Biltmore Resort and Spa, Phoenix, Ariz.; the 780-room Grand Wailea Resort, Maui, Hawaii; and the 796-room La Quinta Resort & Club, La Quinta, Calif.

The transition of ownership will have no impact on the day to day operations of the properties as GIC has assumed the existing management agreements for all three Waldorf Astoria properties. California-based, KSL Group will act as asset manager for the three resorts and will work closely with GIC and Hilton Worldwide to ensure that the luxury properties continue their legacy of offering guests True Waldorf Service and authentic moments set amidst the inspirational environments for which the Waldorf Astoria Hotels & Resorts brand is legendary.

The Arizona Biltmore, a Waldorf Astoria Resort has been an Arizona landmark since opening in 1929, when it was crowned the “Jewel of the Desert.” The Grand Dame remains one of the most recognized resorts in the world for its distinctive Frank Lloyd Wright architectural style, luxurious facilities and storied history as a playground of the rich and famous. Nestled on 39 acres at the foot of the Phoenix Mountain Preserve, the legendary resort offers: 740 guest accommodations; full-service spa, salon and fitness center; two 18-hole golf courses; six restaurants and lounges including Frank & Albert's serving Arizona comfort food; and eight swimming pools including the Paradise Pool for the ultimate in poolside fun. For more information call 800-950-0086 or visit www.arizonabiltmore.com

Grand Wailea, a Waldorf Astoria Resort is the only Waldorf Astoria Resort in the Hawaiian Islands. Nestled on 40 acres of lush, tropical gardens fronting Wailea Beach, Grand Wailea offers open spaces for the active vacationer, beauty for romantic getaways and fun for the whole family. Built to portray the richness of Hawaii's culture, people and nature, Grand Wailea is the ultimate Hawaiian resort providing an extensive selection of amenities and activities. Since opening in 1991, Grand Wailea consistently ranks among the world's best resorts by leading travel consumer reports and industry peers. For more information, call 800.232.4604 or visit www.grandwailea.com.

La Quinta Resort & Club, a Waldorf Astoria Resort and PGA WEST is a renowned desert destination in the greater Palm Springs area featuring 796 elegantly-appointed casitas, suite and villas; the 23,000-square-foot Spa La Quinta®; 41 swimming pools and 53 hot spas; 23 tennis courts and exceptional cuisine at Morgan’s in the desert; TWENTY6; Adobe Grill; Ernie’s at PGA WEST. Known as The Western Home of Golf in America® and named “North America’s Golf Resort of the Year,” it is home to five award-winning public golf courses and four private courses, designed by legends Arnold Palmer, Jack Nicklaus, Pete Dye, Greg Norman and Tom Weiskopf. For more information, call 760-564-4111 or visit http://www.laquintaresort.com.

In addition to the three Waldorf Astoria resorts, GIC has a global portfolio of hotel properties in the U.S., France, the UK, Australia, China and India. Included in these holdings is the 1053-room Hilton Fukuoka Sea Hawk hotel in Fukuoka, Japan.

About Waldorf Astoria Hotels & Resorts

WALDORF ASTORIA is Hilton Worldwide’s luxury brand of landmark hotels, with each one as singular and timeless as the brand’s namesake, The Waldorf Astoria Hotel in New York. From classic elegance to modern grandeur, Waldorf Astoria Hotels & Resorts each represent worldly sophistication and unparalleled guest service. From sumptuous spas and culinary excellence to world-class golf, each hotel & resort offers the exquisite accommodations and signature accoutrements that define refinement and sophistication. Discover Waldorf Astoria by visiting www.waldorfastoria.com. Waldorf Astoria Hotels & Resorts is one of Hilton Worldwide’s ten market-leading brands.

About Hilton Worldwide
Hilton Worldwide is a leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 93 years, Hilton Worldwide has offered business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,900 hotels and timeshare properties, with 640,000 rooms in 91 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®. Visit www.hiltonworldwide.com for more information and connect with Hilton Worldwide at www.facebook.com/hiltonworldwide
www.twitter.com/hiltonworldwidewww.youtube.com/hiltonworldwidewww.flickr.com/hiltonworldwide and www.linkedin.com/company/hilton-worldwide.

Contact:

David Trumble
Hilton Worldwide
+1 602 870 2721
david.trumble@hilton.com
or
Cynthia Rankin
Hilton Worldwide
+1 808 947 7817
cynthia.rankin@hilton.com


 
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Also See: The Waldorf Astoria Chicago Names Kerri Stokes as Director of the Elysian Spa & Health Club / January 2013

The Waldorf Astoria Chicago Names Leonardo Lorenzo as Director of Catering and Christine Lo as Senior Catering Manager / December 2012

The Waldorf Astoria New York Names Christopher Eagle Restaurant Chef Overseeing the Property's Three Restaurants / September 2012

Waldorf Astoria Hotels & Resorts to Debut in Latin America with the 248-room Waldorf Astoria Panama Opening in Panama City Later in 2012 / July 2012

Waldorf Astoria Hotels & Resorts Deploys True Waldorf Service, Featuring Personal Concierges; Each Qualified Guest to be Assigned a Personal Concierge as Primary Contact Before, During AND After Their Stay / July 2012

Sean Lynch Named as the Director of Sales and Marketing for the 188-room Waldorf Astoria Chicago in Illinois / June 2012

Richard Evanich Appointed as General Manager of the 188-room Waldorf Astoria Chicago in Illinois / March 2012

Will Lustberg Appointed as Chef of The Waldorf=Astoria’s Famed Steakhouse, Bull & Bear, in New York City / March 2012

Magnolia Finest Corporation Limited and Hilton Worldwide Enter Management Agreement to Welcome First Waldorf Astoria in Southeast Asia; The 170-room Waldorf Astoria Bangkok to Open in Thailand in 2015 / March 2012

Hilton Worldwide Re-Brands the Elysian in Illinois as the Waldorf Astoria Chicago / February 2012

Hilton's Naples Grande Beach Resort in Florida Begins the New Year as the Waldorf Astoria Naples; Operated as a Waldorf Astoria for Some Time will Now Undergo Property Enhancements Reflecting the Brand Standards / January 2012

Dijkhuis Vastgoed Management B.V. and Hilton Worldwide Enter Agreement for New Waldorf Astoria Amsterdam to be Located at the UNESCO World Heritage Site / November 2011

Elysian Hotel Chicago in Illinois Acquired by Joint Venture Formed by Waldorf Astoria Hotels & Resorts, Equity Group Investments Affiliate and Elysian Principals; Hotel to Become Waldorf Astoria Chicago / November 2011

Waldorf Astoria Hotels & Resorts Reveals Proposal to Redevelop the Old Post Office Building into a 245-room Hotel and Retail Destination on Pennsylvania Ave in Washington, D.C. / November 2011

Conde Nast Traveler Selects the Top Hotels, Resorts; The Number One Hotel in the World is The Ritz-Carlton Shanghai, Pudong; Open Only Two Years, Top U.S. Property is Chicago's Elysian Hotel / October 2011

Al Habtoor Group and Hilton Worldwide Partner to To Bring Hilton Brand Hotels to Lebanon And Dubai; Conversion of Two Properities in Lebanon and Development of the Waldorf Astoria Dubai Palm Jumeirah in Dubai / October 2011

David Garcelon Named Director of Culinary for The Waldorf=Astoria Hotel in New York City / September 2011

Hilton Worldwide Opens 137-room London Syon Park, A Waldorf Astoria Hotel, in West London / March 2011

Hilton Worldwide Launches Waldorf Astoria in the UAE; Signs Management Agreement with the Al Hamra Group for the 349-room New-Build Waldorf Astoria Ras Al Khaimah, 40 Minutes from Dubai Airport / March 2011

Naples Grande Beach Resort, a 474-room Waldorf Astoria Resort, Appoints Rudy Gonnella as National Account Manager, Southeast / February 2011

Eric O. Long, New York City's Waldorf=Astoria’s General Manager, Awarded the Lifetime Excellence Award by FTA Hospitality Awards for Excellence / February 2011

Evy Garcia Named Director of Sales for El Conquistador Resort, A Waldorf Astoria Hotel, in Puerto Rico / November 2010

Ability Group & Hilton Worldwide to Open 137-room London Syon Park, a Waldorf Astoria Hotel by End of 2010 / July 2010
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