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Maynard Torchiana Appointed Managing Director of Wailea Beach Villas

Maui, Hawai'i - March 23, 2006 - Destination Hotels & Resorts has appointed Maynard Torchiana as managing director of Wailea Beach Villas. With more than 33 years of hospitality experience, Torchiana will be responsible for managing all aspects of the new oceanfront residences slated to open in June 2006.

Torchiana has been part of the Destination Hotels & Resorts family since 1978 and is currently the executive vice president for Destination Resorts Hawaii, Inc. Over the past 15 years, Torchiana has positioned the company as one of the highest quality property management companies in the State of Hawaii.

Prior to this role, Torchiana served as the regional vice president for Destination Resorts Management, Inc. and was responsible for resort properties in Vail, Aspen, and Steamboat Springs, Colorado. He was directly involved in all aspects of sales and marketing, budgeting, personnel, and purchasing. In addition, he was a consultant for the design, development, promotion and furnishing of a 158-unit condominium project on 35 acres in Steamboat Springs.

An executive board member for the Maui Convention and Visitors Bureau, Torchiana serves as a finance committee member and holds the position of vice president for the Wailea Community Association. Torchiana has also served as Chairman of the Maui Visitors Bureau, executive board member of the Hawaii Convention and Visitors bureau, and president of the Wailea Destination Association.

Torchiana completed graduate studies from Pennsylvania State University. He also earned a bachelor's degree from Wilmington College in Ohio.

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.