Preferred Hotel Group Announces Appointment of Craig Jacobs As Senior Vice President of Group Sales

. October 14, 2008

CHICAGO, IL, June 14, 2006. Preferred Hotel Group, a global leader in the hospitality industry, has announced the appointment of Craig Jacobs to the position of Senior Vice President, Group Sales. Jacobs currently serves as Managing Director for Preferred Hotel Group's Western Region, including North America and Hawaii.

Preferred Hotel Group encompasses four brands and more than 300 of the finest hotels and resorts around the world. In his new role with the company, Jacobs will have responsibility for group sales efforts worldwide, utilizing resources at Preferred Hotel Group sales offices in 23 cities.

John Ueberroth, Chairman of the Board and CEO, Preferred Hotel Group, commented, "Craig is a proven industry veteran who has already had a major impact at Preferred Hotel Group. We have assembled a management team that's the best in the business, and Craig's new role will provide invaluable support to our existing hotel and resort members, while accelerating the growth we are seeing in our roster of new members."

In his new position, Jacobs will direct the group sales team and implement systems and initiatives that will improve performance for properties in all four brands. "Our primary goals are to strengthen our team by providing them with the best possible resources to sell and by adding the most talented sales professionals that we can find," commented Jacobs. "We will also provide comprehensive support to our properties," he continued, "by creating resources that enable them to interact and to be exposed to as many qualified clients as possible."

Jacobs' current projects include a web based referral system that enables hotels to send and receive leads directly, a series of customer events held in secondary markets with four to one buyer to seller ratios, and a long term investment in a database of meeting planners and decision makers.

Jacobs has more than 25 years of experience in all facets of hospitality sales and marketing, with a track record of extraordinary success in group, leisure, corporate and travel industry sales. Before joining Preferred Hotel Group in 2004, Jacobs served as regional vice president, sales and marketing for KSL Resorts, where he led the sales and marketing teams for two of San Diego's legendary resort properties, Hotel del Coronado and La Costa Resort & Spa. Jacobs has held a range of senior level positions with Destination Hotels and Resorts, The Plasencia Group, The Arizona Biltmore and Hyatt Hotels and Resorts.

In Jacobs' role as managing director for Preferred Hotel Group's Western Region, he managed relationships with member properties in the region, secured new properties for each of the four brands within the Preferred Hotel Group and created sales and marketing initiatives designed to generate revenues for hotels and resorts in the region.

A graduate of Tulane University, Craig Jacobs currently resides in San Diego, CA with his wife Dori and their two children; Casey who is twelve and Delaney who is five.

Preferred Hotel Group is a global leader in the hospitality industry. This creative, cutting-edge company is designed for a new era in travel - an era in which travelers embrace the individuality of distinctive hotels and resorts - yet desire a consistent commitment to excellence. The four renowned brands of Preferred Hotel Group represent a collection of the finest hotels in the world and include: Preferred Hotels(R) & Resorts, (www.preferredhotels.com); Preferred Boutique (www.preferred-boutique.com); Summit Hotels & Resorts (www.summithotels.com); and Sterling Hotels (www.sterlinghotels.com).

Guests of any of the Preferred Hotel Group family of brands are eligible to enroll in the I PreferTM Global Guest Benefit Program, with benefits including early check-in/late check-out, space-available upgrades, and local hotel benefits from complimentary airport transportation to "two for one" spa treatments. Learn more at www.preferredhotelgroup.com.

CONTACT: Keri Firstenberg/Gina Galatro

Middleton & Gendron, Inc.

+1 (212) 980-9232/ +1 (212) 284-9934

EMAIL: [email protected]/[email protected]

For high resolution imagery of our properties, please visit the Preferred Hotel Group Image Library at www.preferredhotelgroup.com/press.htm.

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