Tiburon Hospitality Management is Cashing in on Partnership with Huntington Financial

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. October 14, 2008

CAREFREE, AZ, June 17, 2005. Carefree-based Tiburon Hospitality Management has implemented a progressive and unique accounting cost control management program by strategically partnering with Huntington Hospitality Financial orporation (HHFC) and centralizing the accounting systems for two of Tiburon's three resort properties.

According to Melissa Morales, corporate director of financial operations for Tiburon Hospitality Management, by outsourcing the accounting services to untington, it has allowed the resorts to strengthen their cost controls, customize their statistical, management and daily reporting programs, streamline the auditing process and provide state-of-the-art accounting and payroll software, ultimately helping to reduce overhead costs and employee-related costs.

"Centralizing our accounting systems and partnering with Huntington has allowed us not only to maximize our cost efficiencies, but most importantly allows us to provide owners with consistent, reliable and timely financials," said Morales. "As a result, our relationship with Huntington is one of the many benefits Tiburon Hospitality can bring to the table as a property management company."

Morales sited an example that in less than one year, Huntington was able to save Tiburon's Carefree Resort & Villas more than $80,000 in credit card commissions alone. In addition, she noted that by Huntington providing all of the accounting software, hardware and software licensing and assurance, it has saved an estimated

$60,000 in yearly fees and maintenance for both properties.

One of the key benefits that Huntington brings to the partnership is the ability to utilize systems for accounting, payroll and a daily report exclusively designed by Huntington. According to Patricia Santini, vice president of development for Huntington, the investment in these systems alone would be cost prohibitive for most resort properties.

"By providing systems of this caliber to our clients, and overseeing the management and maintenance, we are also able to reduce our clients overall IT costs as well," said Santini.

Another benefit of partnering with Huntington is their established relationships with third party auditors. Huntington provides year-end packages to auditors for its hospitality clients to ensure accurate and timely audits, therefore reducing the client's audit expense.

"The audits are done in our offices and not at the property, which eliminates business disruptions," said Santini. "We also work closely with financial, franchise fee, workers compensation, sales and occupancy tax auditors, therefore eliminating the time and headaches at the property level and ensuring the best audit results possible."