New York Palace Hotel Names Managing Director

. October 14, 2008

NEW YORK, NY, May 22, 2007. The New York Palace Hotel today announced that Niklaus J. Leuenberger has been appointed Managing Director of the renowned landmark luxury property located in the heart of midtown Manhattan. He joins The Palace following a distinguished tenure with The Peninsula Hotels. A 35-year veteran of the luxury hospitality industry, Mr. Leuenberger brings a wealth of experience to his new role in which he will oversee all aspects of the hotel and serve as Chairman of the Palace Executive Committee.

"I have always admired The Palace for its truly unique accomplishment in providing the utmost in luxury service within a large-scale property of almost 900 keys," said Mr. Leuenberger. "The Palace has been an institution in New York for more than 25 years, and I am honored to be joining the team at such a pivotal time in the evolution of the hotel. Our flagship restaurant GILT has established an intense following, our guests have responded very favorably to the renovation of the Executive Lounge and Executive Level rooms, and we are nearing completion on a highly ambitious public space renovation in The Villard Mansion."

Mr. Leuenberger began his career in hospitality at The Dolder Grand Hotel in Zurich, and held posts at several other Swiss Hotels before commencing his career with Peninsula Hotels in 1980. His first position with Peninsula Hotels was with The Peninsula in Manila, followed by Hong Kong, Beijing, Guangzhou and New York for the past fifteen years. In 1999, Mr. Leuenberger was promoted to Regional General Manager, and oversaw the construction, development and launch of The Peninsula Chicago. For the past three years, Mr. Leuenberger has served as Senior Vice President, The Americas, in charge of the North American Peninsula properties. In January of 2005, Leaders Magazine inducted him into the "Hotelier's Hall of Achievement," an honor bestowed upon the top hoteliers in the world. Mr. Leuenberger shares his love of travel and adventure with his wife Connie and their three daughters.

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