Wailea Coastline to Welcome Wailea Beach Villas

Luxury Oceanfront Resort's 98 villas and penthouses to open June 2006

Maui, Hawai'i - February 27, 2006 - The famed Wailea Beach, which is consistently rated one of the most beautiful beaches in the world, will welcome the ultimate in luxury condominium residences in Summer of 2006. Wailea Beach Villas, managed by Destination Hotels & Resorts, will be an elite oceanfront residence on the last remaining parcel of Wailea coastline. Its prestigious location will offer the privacy and comfort of a residential retreat, while providing the convenience of a destination resort. Nestled in an 11-acre tropical garden, the resort's 98 residences will be completed by June 2006, with some units available as early as April 2006.

The spacious residences will range in size from 1,800 to 3,100 square feet, with a choice of two- or three-bedroom floor plans. The concept of "open planning" will stream through the architecture and design. Bright and airy spaces will create a casual, yet distinctly refined environment throughout each residence. Some of the architectural features will include lofty ceilings, oversized windows and broad exterior lanais. The design of the residences will offer abundant entertainment space, expansive European kitchens and sweeping views of Wailea Beach.

Projected to be the ultimate in Hawaiian vacation accommodations on the island of Maui, this luxury escape will offer the finest in personalized amenities. All of the units will be lavishly appointed with distinctive furnishings and large lanais with built-in barbeques. Other amenities will include complimentary high-speed internet access, fully stocked kitchens and bars upon request and much more.

The complex will feature 20 elevators offering individual unit privacy and accessibility, two swimming pools including an adult-only pool, a number of plunge pools, a state-of-the-art fitness facility, business center and an activity room. The gated residences will also feature 24-hour security and front desk reception, bellman/valet services and knowledgeable concierge who are able to assist in pre-arrival itineraries and au pair childcare services. Housekeeping and maintenance services will also be available in addition to the personal employ of butlers and private chefs.

"Wailea Beach Villas will represent a new paradigm in condominium resort living by combining the comfort of a private residence with all the services and amenities of a destination luxury resort," said Maynard Torchiana, managing director of Wailea Beach Villas.

The resort will be conveniently adjacent to The Shops at Wailea, a myriad of eateries and neighbor to an array of world-class, full-service luxury hotels and destination spas. Rates are expected to range from $825 to $3000 nightly.

Lokahi Ventures, LLC developed the residential resort and Scheurer Architects designed the project.

For reservations or information on Wailea Beach Villas, please call (888) 808-8770.

About Wailea Beach Villas
Wailea Beach Villas, managed by Destination Hotels & Resorts, is an elite luxury retreat situated on the famous Wailea coastline on the island of Maui. Nestled in an 11-acre tropical garden, the resort's 98 residences will be completed by June 2006. The spacious residences range in size from 1,800 to 3,100 square feet, with a choice of two- or three-bedroom floor plans. Projected to be the ultimate in Hawaiian vacation accommodations on the island of Maui, this luxury escape offers the finest in personalized amenities. European kitchens featuring state-of-the-art appliances, large lanais with built in barbeques, plunge pools, outdoor showers, and distinctive furnishings emulating the "Aloha Spirit." The resort is conveniently adjacent to The Shops at Wailea, a myriad of eateries and neighbor to an array of world-class, full-service luxury hotels and destination spas. Lokahi Ventures, LLC developed the residential resort and Scheurer Architects designed the project. For reservations or information on Wailea Beach Villas, please call (888) 808-8770 or go to www.waileabeachvillas.com

About Destination Hotels & Resorts
Destination Hotels & Resorts is a privately held lodging management company headquartered in suburban Denver, Colo. With 34 independent, luxury and upscale hotels, resorts and golf clubs, Destination is the fifth largest independent hospitality management company in the country. The company's portfolio features more than 8,000 guest rooms, 15 golf courses and 10 full-service spas. Destination Hotels & Resorts properties are located in key metropolitan and resort markets including New York, San Francisco, Washington, D.C., Chicago, Denver, Dallas, Boston, San Diego, Aspen, Phoenix, Palm Springs, Jackson Hole, Maui and Lake Tahoe. For more information on the properties in the Destination Hotels & Resorts collection, please visit www.destinationhotels.com.