RockResorts Terminates Chateau at Heavenly Village Agreements

BROOMFIELD, Colo., May 21 /PRNewswire-FirstCall/ -- In light of the recent announcement by Lake Tahoe Development Company (LTDC), the third party developer of the Chateau at Heavenly Village project, that it has placed the project on hold due to financing issues, RockResorts has terminated marketing license and technical services agreements associated with the project. As a result, LTDC will no longer be permitted to use the RockResorts brand in marketing the project.

About RockResorts

RockResorts, a wholly owned subsidiary of Vail Resorts, owns and operates luxury resort hotels that offer casually elegant accommodations, lavish RockResorts Spas(TM), renowned golf courses, award-winning dining and a variety of exciting outdoor adventures. The RockResorts collection includes The Arrabelle at Vail Square in Vail, Colo., Hotel Jerome in Aspen, Colo.; The Pines Lodge in Beaver Creek, Colo.; Keystone Lodge & Spa in Keystone, Colo.; The Lodge at Vail in Vail, Colo.; La Posada de Santa Fe Resort & Spa in Santa Fe, N.M.; Snake River Lodge & Spa in Jackson Hole, Wyo.; and The Landings St. Lucia, Rodney Bay, St. Lucia. Future RockResorts include; The Osprey at Beaver Creek (renovation to be complete in fall 2008); Eleven Biscayne Hotel & Spa in Miami, Fla. (scheduled to open in 2009); One Ski Hill Place in Breckenridge, Colo. (scheduled to open in winter 2009-2010); Rum Cay Resort Marina, The Bahamas (scheduled to open in 2010); and the Third Turtle Club & Spa, Turks and Caicos (scheduled to open in 2011).

First Call Analyst:
FCMN Contact:

Source: Vail Resorts

CONTACT: Kathryn Wohlschlaeger of Vail Resorts, +1-303-404-6466,
kwohlschlaeger@vailresorts.com

2008-05-21 18:44:03 0368308 PRNEWSWIRE