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BROOMFIELD, Colo., Aug. 2 /PRNewswire-FirstCall/ -- RockResorts part ofVail Resorts Inc. (NYSE: MTN) announced today that it has retained along-term management agreement for La Posada de Santa Fe Resort & Spa witha partnership led by the Gencom Group. The Gencom Group led partnershipannounced the purchase of the 157-room La Posada de Santa Fe Resort & Spa,a RockResort, from Trinity Hotel Investors today. La Posada de Santa Fe Resort & Spa has a history dating to the late1880s. It became a RockResort in 2001. Today, La Posada de Santa Fe isSanta Fe, New Mexico's only member of Leading Hotels of the World. This AAAFour Diamond property is a Santa Fe landmark, perfectly representing itsunique environment and location. Last year Santa Fe was voted the secondmost popular travel city in the country for the fifteenth straight yearaccording to Conde Nast Traveler Magazine's Readers Poll. This year SantaFe Municipal Airport upgraded to Class 1 status, creating further ease oftravel to one of the country's favorite destinations. Additionalimprovements to the city include the 72,500-square-foot Civic Centerscheduled to open in the winter of 2007. "We are excited to continue to manage La Posada de Santa Fe Resort &Spa. Gencom Group's planned significant investment in a RockResorts-managedasset underscores our strategy to build a luxury hotel company around alegendary brand of iconic properties that reflect their unique anddistinctive locations," said James O'Donnell, Director of Development andAcquisitions for RockResorts and Vail Resorts Lodging Company. "We lookforward to a long and growing relationship. We are pleased that GencomGroup is committed to upgrading what is already an incredible guestexperience with its capital plans." "This acquisition represents an opportunity to acquire a timelessresort that is in need of a substantial targeted investment from ourpartnership so as to ensure that the resort retains its rightful place asone of the most beautiful properties in the United States," stated Aly-khanMerali, Director of Acquisitions and Development for Gencom Group. "Withthis capital investment, combined with RockResorts' capable management, weare confident that La Posada will continue to be the undisputed choice forupscale travelers to Santa Fe." About RockResorts RockResorts' luxury resort hotels offer casually elegantaccommodations, lavish RockResorts Spas (TM), renowned golf courses,award-winning dining and a variety of exciting outdoor adventures. TheRockResorts collection includes Hotel Jerome in Aspen, CO; The Pines Lodgein Beaver Creek, CO; Keystone Lodge & Spa in Keystone, CO; The Lodge & Spaat Cordillera in the Vail Valley, CO; The Lodge at Vail in Vail, CO; LaPosada de Santa Fe Resort & Spa in Santa Fe, NM; and Snake River Lodge &Spa in Jackson Hole, WY. Future RockResorts include The Arrabelle at VailSquare in Vail, CO (scheduled to open in December 2007); The Landings St.Lucia in Rodney Bay, St. Lucia (scheduled to open in December 2007); TheChateau at HeavenlyVillage in Lake Tahoe, CA (scheduled to open in 2009);Eleven Biscayne Hotel & Spa in Miami, FL (scheduled to open in 2009); andRum Cay Resort Marina in Rum Cay, The Bahamas (scheduled to open in 2010). About Gencom Group Founded in 1987 by Karim Alibhai, Gencom Group, an investment anddevelopment firm, is a major player in the hospitality and related realestate industries. By aligning itself with prominent investors, Gencom hasbecome one of the nation's leading joint-venture investment enterprises,which has enabled the company to be involved in more than 10 luxury hotelsand resorts with significant residential components for a total investmentvalue of $6 Billion. Gencom currently has seven properties developed orunder development in conjunction with Ritz-Carlton; and is developing thefirst Ritz-Carlton Reserve branded property in Turks and Caicos in theCaribbean, which will serve as the brand standard for future Reserveproperties. With a strong market position already established in the UnitedStates, Canada, Mexico and now the Caribbean, Gencom is expanding itsportfolio to include Europe. In early 2006, Gencom formed GenGate Europewith its frequent joint-venture partner Highgate Holdings to purchase asignificant portfolio of four-star hotels in Europe.
