Officials at Vail Cascade Resort & Spa are proud to announce a new $5 million renovation project set to makeover all 292 rooms and suites, as well as the common areas and corridors in the resort. The two and a half month project, which is the final phase of a four-year, $20 million dollar renovation, is slated to begin April 2004 and conclude in June.

�We are very excited about this new renovation project,� said resort general manager Jay Rocha. �This project is the final piece of our property�s complete renaissance. We are proud to be Vail�s premier AAA Four-Diamond ski-in/ski-out resort and spa, and we are committed to continually enhancing our guests� experiences.�

As Vail�s most complete and inclusive resort property, Vail Cascade Resort & Spa began the vision planning process with the addition of Chap�s Grill & Chophouse in 2000. Chap�s quickly earned a reputation as Vail�s premier steak and chophouse restaurant. Shortly after, the resort followed with the highly successful addition of Aria Spa & Club in October 2001. Aria is the resort�s 78,000 square foot spa and club facility, and was recently ranked as one of SpaFinder�s Best Winter Sports spas for 2003. In the third phase of the project, meeting and convention planners were treated to a $2 million renovation of the resort�s 30,000 square-feet of conference, event and ballroom space in July 2002. This space has been transformed to accommodate any size gathering with state-of-the-art technology and fresh d�cor.

Designed to minimize the impact the project will have on guests, the renovation will be undertaken one floor at a time and one wing at a time.

�During the upcoming renovation, the resort will be fully open and warmly welcoming to guests,� said Rocha. �Guests will still feel completely comfortable, relaxed and refreshed during the time the project will be undertaken. The resort will be fully operational, and every effort will be made to insure an unforgettable award-winning resort experience will be enjoyed by every guest.�

There is no room left for mediocrity. The new guestrooms are designed specifically with visitors in mind. This final makeover of the guestrooms and common areas will result in mountain elements meeting a contemporary flare to create a warm, elegant and comfortable residential feel. Rooms will be brighter, bolder and more inviting. The details, colors, textures and finishes represent the sophisticated and contemporary taste in comfort our guests have come to expect and appreciate.

Elements of the Main Lodge and Terrace Room and Suite renovation include:

Rooms & Suites: -- A speckled, black marble threshold introduces guests to their accommodations. -- Bold and playful striped carpeting is cushy, cozy and colorful. -- High-profile, natural wood baseboard and crown molding accentuate the high ceilings and generous square footage. -- Contemporary sitting area with leather chair, high-back pull-out couch, traditional wood tables and comfortable desk and chairs. -- Large desk area with two chairs for comfortable workspace and in-room dining. -- The windows are now the focal point with soft valance and sage-colored drapes adding a velvety touch. Cream sheers and gentle drawbacks button-up the framing of the mountain views. -- Overstuffed pillows, sumptuous down comforter, pillow-topped mattress and sleek golden bedspread with a chocolate velvet ribbon create a stylish resting place. -- Wooden armoire conceals a 27-inch TV featuring in-room movies, Internet access and video games. -- Wall coverings are light, airy and textured in wheatgrass and aspen leaf patterns. -- The bath area and hallway are filled with built-in storage areas, drawers and granite countertops. -- Granite double-sink vanity, dark wood-framed mirrors and stone tile floors are reflective of the mountains. -- Sparkling tile in the full bath/shower has a timeless white porcelain feel � a crystal clean break from the festive plaid bath curtain.

Common Areas & Corridors: -- Addition of �hot spots� for wireless internet access -- Colorful patterned carpet -- Rich, textured wall treatments -- Natural wood baseboard -- New corridor and elevator landing furnishings -- Terrace Wing elevators will be renovated with trowel wall treatments and wrought iron accents

Luxury Guest and Room Amenities include: -- Signature Aria bath products and amenity basket -- Room Service -- Select in-room spa treatments -- Ski concierge -- Free guest parking -- Two phones, one cordless, with two line and speakerphone features -- Some rooms feature outdoor balconies with tables and chairs with mountain views -- High-speed internet access -- Ski-in/ski-out, private chairlift and ticket window -- Turn-down service

Leisure travelers and guests are invited to come and celebrate the final touches to our four-year, $20 million dollar resort renovation with special packages and group incentives designed to show off the new look. For more information, or to make reservations, call 1-800-420-2424, or visit www.vailcascade.com.

Vail Cascade Resort & Spa photos are available for reproduction and can be downloaded via the Internet at www.kruzic.com and www.vailcascade.com

### Vail Cascade Resort & Spa is one of 24 independent, upscale and luxury hotels, resorts and golf clubs in the United States managed by Destination Hotels & Resorts, a privately held company located in Englewood, Colorado. Each distinctive, well-situated Destination Hotels & Resorts managed property offers exceptional recreational, business travel and conference facilities. You can visit Destination Hotels & Resorts online at www.destinationhotels.com. Travel professionals can access Destination Hotels & Resorts� properties, including Vail Cascade Resort & Spa on the global distribution system via the company�s chain code, DN. Destination Hotels & Resorts (DH&R) has formed a sales and marketing alliance with De Vere Hotel Group PLC, in the United Kingdom allowing DH&R to increase its portfolio presence in the UK with a company whose customer base and product offering is very similar to its own. De Vere Hotels is a distinctive collection of 21 of the UK�s finest four- and five-star hotels, featuring 3,300 rooms and is highly regarded for delivering excellent service in hotels that have maintained their individuality. These include nine leading golf resorts, such as the world famous The De Vere Belfry, host to four Ryder Cups. De Vere also has an impressive string of south coast hotels including The De Vere Grand, Brighton as well as outstanding destinations such as the De Vere Cameron House on the shores of Loch Lomond, Scotland. The latest addition is the elegantly refurbished De Vere Cavendish, St. James�s, London, located in the heart of the fashionable West End. The hotels are positioned to serve both the conference and upper short breaks market as well as the discerning business traveler. www.devereonline.co.uk For more information about Vail Cascade Resort & Spa, special events, packages or to make reservations call 1-800-420-2424. Or, contact the resort via the Internet at: www.vailcascade.com, or via email at: info@vailcascade.com.

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Media Contact: Amy Larson +1(303 329.6229 amy@kruzic.com