Le Meridien Hotels & Resorts Sells and Continues to Manage Le Meridien at Benerly Hills

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. October 14, 2008

LONDLON, UK, November 8, 2005. Global hotel group Le M'eridien Hotels & Resorts announced today the completion of the sale of Le M'eridien at Beverly Hills to an affiliate of Lodging Capital Partners. Le M'eridien will continue to manage the hotel, post-completion.

The sale of the hotel represents the next in a series of transactions over the coming weeks that will result in the successful recapitalization of Le M'eridien.

According to Robert Riley, CEO of Le M'eridien:"While the sale represents a further step towards the recapitalization of the Le M'eridien Group, it is business as usual for Le M'eridien at Beverly Hills. With the continued management of the hotel by Le M'eridien, guests will receive the same high levels of service they have come to expect of a Le M'eridien hotel."

Le M'eridien at Beverly Hills has been managed by Le M'eridien since July 1999. Centrally situated on Restaurant Row, the hotel is just minutes from Rodeo Drive, Beverly Hills, the Wilshire Business Corridor, The Grove, Farmer's Market and Santa Monica beach. The hotel, which offers 300 bedrooms, including 55 suites, provides state-of-the-art conference facilities in this elegant district of Los Angeles.