Plasencia Group Names Richard Conti as President

Lou Plasencia Remains as Chairman and CEO

. October 14, 2008

TAMPA, FL, September 25, 2006. The Plasencia Group, Inc., the leading national hospitality transaction and consulting services firm representing owners of hotels, resorts, and golf courses, has appointed Richard C. Conti as its President. Mr. Conti succeeds Lou Plasencia, who has served as President of The Plasencia Group, Inc. since its founding and who remains as Chairman and CEO.

"I am extremely pleased that Rich has joined our organization," Plasencia said. "He brings 30 years of industry experience and key relationships to our team, and he is highly respected by his peers. Rich's wealth of knowledge continues to enhance the position of The Plasencia Group as an industry leader in lodging investment advisory services and is in line with our growth strategy. This certainly provides me more time to focus on delivering for our clients," Plasencia added.

"My main goal is to work with a team of highly skilled and successful professionals who are 'Best-In-Class,'" said Conti. "By joining Lou and his team, I feel I have more than accomplished that goal." Conti, who will relocate to Tampa, will provide direct support to the company's sales personnel and its clients, ensuring prompt execution of engagements.

Conti has been Chief Operating Officer of Boykin Lodging Company, based in Cleveland, since May 1998 and assumed the additional responsibility of President of the hospitality REIT in 2001. Prior to joining Boykin Lodging, Mr. Conti was a Principal and Director with Coopers & Lybrand LLP in their National Hospitality Consulting Practice.

Mr. Conti obtained his undergraduate BS degree in Business Administration at the State University of New York, at Brockport, NY, and received his MBA in Hotel, Restaurant and Institutional Management from Michigan State University. Mr. Conti serves as Vice Chairman of the Hotel Development Council of the Urban Land Institute.

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