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Pyramid Hotel Group LLC Names Davis Sezna as President
of La Quinta Resort & Club and PGA WEST

BOSTON - November 6, 2007 - Pyramid Hotel Group LLC (Pyramid), a Boston-based hotel development, management and ownership firm, today announced that Mr. Davis Sezna has joined the firm as president of La Quinta Resort & Club® and PGA WEST ®. In his new role, Sezna is responsible for asset management and community relations for both Morgan Stanley Real Estate Fund assets.

Sezna has been president and chief executive officer of Tandem Hospitality, a consulting firm focused on restaurant, golf course, private club, hotel design, master planning and development. He has spent 35 years developing, owning and operating hotels, golf courses and restaurants.

“Mr. Sezna’s vast and wide-ranging set of experiences make him uniquely qualified for this critical role.” states Richard M. Kelleher, chairman and chief executive officer of Pyramid. “He will be representing Morgan Stanley’s and Pyramid’s interests in the further development and enhancement of these two remarkable, one-of-a-kind assets. We’re proud to have someone of his professional distinction on our team.”

“I am struck by the sense of place, history and community evident in both La Quinta Resort & Club and PGA West. It will be an honor to be associated with these magnificent resorts. I have never before seen facilities with more ingredients, texture and just pure sensory energy. The chance to be associated with Pyramid and Morgan Stanley was also a significant factor in my decision to take on this responsibility,” stated Sezna.

La Quinta Resort & Club and PGA West are owned by Morgan Stanley Real Estate Fund (MSREF) in partnership with Pyramid, as part of a portfolio of luxury resorts, recently acquired from CNL Hotels and Resorts, Inc. Morgan Stanley Real Estate Fund is comprised of three major global businesses: Investing, banking and lending. Since 1991, the company has acquired $135.9 billion of real estate assets world-wide and currently manages $68.0 billion in real estate assets on behalf of its clients. A complete range of market-leading investment banking services for real estate clients, include advice on strategy, mergers, acquisitions, restructurings, as well as underwriting public debt, private debt and equity financings. As a global leader in real estate lending, Morgan Stanley Real Estate Fund has offered approximately $156.0 billion of CMBS through capital markets since 1997, including $35.5 billion in 2006. For more information about Morgan Stanley Real Estate Fund, please visit

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking securities, investment management and wealth management services. The Firms employees serve clients worldwide.

Pyramid Hotel Group LLC, founded in 1999, is a full-service hotel company that owns, manages and asset manages hotels and hotel construction and renovation projects. For more information about the company and its affiliates, visit the company’s website,


Pyramid Advisors, LLC
Harley Mayersohn, VP Marketing/Resorts

Also See: KSL Resorts Moves its Focus to Acquisition and Development Opportunities Following Sell to Hilton of Management Contracts for Arizona Biltmore, Grand Wailea and La Quinta Resort & Club / January 2006
Still Reaching for that Fifth Star - The Boston Harbor Hotel Moves Forward with $12 million Renovation / March 2007

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