Sales Well Under Way as Construction Commences at Hyatt Grand Aspen; Sales Top $35 Million at Posh Vacation Ownership Resort

Business Wire, March 29, 2004

Business Editors/Real Estate Writers

CHICAGO--(BUSINESS WIRE)--March 29, 2004

Hyatt Vacation Ownership, Inc. recently announced sales have begun for what will be their 12th property, Hyatt Grand Aspen Resort. All units that have been released thus far have sold out, with sales in excess of $35 million. Sales for the 51-room property are expected to continue at a competitive pace throughout the year. Hyatt Grand Aspen is slated to open December 2005.

The resort, located at the base of Aspen Mountain and just steps to the gondola, will offer 30 three-bedroom units, 19 two-bedroom units and two one-bedroom units. All rooms will feature a Rocky-Mountain elegant style with rich earth tones throughout. Wide plank solid wood floors will compliment stone entryways, nine foot coved ceilings, as well as marble and granite finishes. Most units will boast multiple fireplaces and all will have premium stainless steel appliances, jetted bathtubs and steam showers. Units range in size from 1,000 to 2,600 square feet.

Common area amenities include outdoor heated pool, heated deck, outdoor spa, health club, ski valet, on-site concierge, complimentary airport transportation, twice daily housekeeping service and complimentary breakfast each morning. Additionally, some penthouse units offer private roof decks and hot tubs.

"The sales for Hyatt Grand Aspen have been unbelievably successful thus far and we anticipate it will continue at this rate," said John Burlingame, executive vice president, Hyatt Vacation Ownership, Inc. "The location speaks for itself -- add the luxurious rooms and top notch upscale amenities to that equation and the Hyatt Grand Aspen is undoubtedly another exceptional jewel in the Hyatt Vacation Ownership crown."

For further information on Hyatt Grand Aspen, call 970/920-3204 or visit the in-town preview center located at 205 S. Mill Street; Aspen, Colorado.

HVOI currently has vacation ownership properties in Key West, Florida; Dorado, Puerto Rico; Beaver Creek, Colorado; Breckenridge, Colorado; Carmel, California; Lake Tahoe, Nevada; Sedona, Arizona; and Bonita Springs, Florida (Naples Coast). Additionally, HVOI will soon begin sales at Hyatt Wild Oak Ranch in the Hill Country of San Antonio, Texas.

All owners at Hyatt's vacation ownership resorts benefit from membership in the Hyatt Vacation Club. With their membership, owners can exchange their time at a Hyatt Vacation Ownership resort for stays at Hyatt Hotels and Resorts worldwide, through Hyatt's Gold Passport program. Hyatt Vacation Club members can make reservations for their use week, exchange to other Hyatt Vacation Club resorts or travel services by calling 1-800-GO-HYATT. In addition, Hyatt Vacation Club membership gives owners access to more than 1,800 resorts in more than 60 countries around the world through Interval International's vacation exchange network.