Tucker's Point Signs Letter of Intent with Rosewood

Brian Young Continues as Managing Director

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. October 28, 2010

HAMILTON PARISH, Bermuda - October 26, 2010 - The acclaimed Tucker's Point Hotel & Spa, the first luxury hotel to be built in Bermuda in more than 40 years, has entered into a Letter of Intent to bring Rosewood Hotels & Resorts in as its operator. The announcement was made today by Ed Trippe, founder and president of Tucker's Point, paving the way for the property to be re-branded as Rosewood Tucker's Point.

Tucker's Point sits on 200 acres of the most beautiful, privately-owned parcel of waterfront land in Bermuda, neighboring the estates of Tucker's Town and offering breathtaking vistas of Castle Harbour, Harrington Sound and the Atlantic Ocean. Developed over eight years, it is remarkable for its Bermudian cottage colony style architecture, classically luxurious interiors, and compelling residential and guest facilities. They include the 18-hole Tucker's Point Golf Course which abuts and shares accolades with Bermuda's venerable Mid Ocean Club, the 88-room Tucker's Point Hotel & Spa, which opened in April 2009, a 10,000-square foot spa, tennis courts and a croquet lawn, fine dining restaurant, the longest private, pink sand beach on-island, and several residential communities. Among the latter are two residential clubs, the first of which introduced the concept of fractional ownership to Bermuda.

In making the announcement, Mr. Trippe said, “We're proud of how far we've come in raising the bar for hospitality and services in Bermuda. Tucker's Point has evolved into a highly complex operation, so the timing is right to enlist a world-class operating company. Rosewood will enhance our training and management programs, bring opportunities for career growth to our employees and generally improve our operations and systems.”

John Scott, president and CEO of Rosewood Hotels & Resorts, added, “We're delighted to have Tucker's Point join our prestigious Rosewood collection which includes such iconic properties as The Carlyle, a Rosewood Hotel in New York City, Las Ventanas al Paraíso, A Rosewood Resort in Los Cabos, Mexico, and Rosewood Little Dix Bay in Virgin Gorda. Our international stature and marketing reach will benefit Bermuda, reinforcing those qualities which contribute to its success as a tourism destination: high service levels, excellent accommodations and a wide range of amenities and attractions.”

Day-to-day operation of the property will remain in the hands of Brian Young, Tucker's Point's executive vice president operations, and an erstwhile Rosewood Hotels & Resorts executive (prior managing director of Rosewood at Caneel Bay, A Rosewood Resort in the U.S. Virgin Islands, and corporate vice president of operations for the parent company in Dallas.) His title will change to managing director.

Rosewood Hotels & Resorts is expected to assume management of Tucker's Point within the next 60 - 90 days.

For more information on Tucker's Point, call (441) 298-4000 or visit www.tuckerspoint.com.

About Rosewood Hotels & Resorts
Headquartered in Dallas, Texas, Rosewood Hotels & Resorts manages properties worldwide including Rosewood Mansion on Turtle Creek and Rosewood Crescent Hotel in Dallas, The Carlyle in New York, The Mansion on Peachtree in Atlanta, Rosewood Sand Hill, CordeValle and San Ysidro Ranch in California, Rosewood Inn of the Anasazi in Santa Fe, Las Ventanas al Paraíso and Rosewood Mayakobá in Mexico and a triumvirate of world-class Caribbean properties - Rosewood Little Dix Bay on Virgin Gorda, Caneel Bay on St. John and Jumby Bay on Antigua. Rosewood also offers Sense, A Rosewood Spa® -- featuring treatments reflective of the brand's signature A Sense of Place® philosophy - available exclusively at select properties. For more information on Rosewood Hotels & Resorts or Sense, A Rosewood Spa®, please call 888.ROSEWOOD or visit rosewoodhotels.com.