Destination Hotels & Resorts manages independent, luxury hotels and resorts around the country, including such well-known destinations as the Hotel del Coronado near San Diego and the Eden Roc Resort & Spa in Miami Beach. The company�s steady rise from a ranking of 10th in 1997 demonstrates this 25-year-old company�s outstanding growth and success during the past several years.

Management companies were ranked according to 1999 annual gross revenue. Destination Hotels & Resorts reported $475.1 million in gross revenue in 1999-a more than 90 percent increase in three years.

�Destination Hotels & Resorts� strategy of managing one-of-a-kind, unique destinations with independent identities has translated into exceptional guest experiences and superior returns for our investors,� said Charlie Peck, president and COO of Destination Hotels & Resorts. �Our corporate philosophy, to rely on our general managers and on-site management teams to make decisions and implement programs, has been the most important factor in our success.�

Destination Hotels & Resorts expects to add at least five hotels to its portfolio in 2000, creating expectations that the company will be ranked in the top five in next year�s survey.

�As a privately held company, Destination Hotels & Resorts is excellently positioned to further improve its standing in the hospitality industry,� said Peck. �We will continue to work irreplaceable and unique destination properties as we grow our portfolio.�

The Hotel Business Top 100 Management Companies Survey was based on a telephone and fax poll of more than 150 management companies that �operate hotels under their own flag or those that own all of their properties outright� and is the largest management company analysis of its kind. The rankings were published in the April 7-20, 2000 issue of Hotel Business magazine.

Destination Hotels & Resorts manages upscale and luxury hotels and resorts featuring more than 6,000 guest rooms, nine golf courses and three full-service spas spanning nine states including Arizona, California, Colorado, Florida, Hawaii, Illinois, North Carolina, Oregon and South Carolina, as well as the District of Columbia. Destination Hotels & Resorts� sister company, Destination Europe Limited, owns and manages Cliveden, the Cliveden Townhouse and the Royal Crescent Hotel in Bath, three of the most highly rated hotels in the United Kingdom.

Each distinctive, well-situated Destination Hotels & Resorts property offers exceptional recreational opportunities and conference facilities. Properties include the Hotel del Coronado near San Diego; the Inverness Hotel & Golf Club near Denver; the Royal Palms Hotel & Casitas in Phoenix; Eden Roc Resort & Spa in Miami Beach; Sunriver Resort in Sunriver, Ore.; and Tenaya Lodge in Yosemite, Calif. You can visit Destination Hotels & Resorts properties online at www.destinationhotels.com. Travel professionals can access Destination Hotels & Resorts on the global distribution system via the company�s chain code DN.