RockResorts Terminates Chateau at Heavenly Village Agreements

May 21, 2008, 01:00 ET from Vail Resorts

    BROOMFIELD, Colo., May 21 /PRNewswire-FirstCall/ -- In light of the
 recent announcement by Lake Tahoe Development Company (LTDC), the third
 party developer of the Chateau at Heavenly Village project, that it has
 placed the project on hold due to financing issues, RockResorts has
 terminated marketing license and technical services agreements associated
 with the project. As a result, LTDC will no longer be permitted to use the
 RockResorts brand in marketing the project.
     About RockResorts
     RockResorts, a wholly owned subsidiary of Vail Resorts, owns and
 operates luxury resort hotels that offer casually elegant accommodations,
 lavish RockResorts Spas(TM), renowned golf courses, award-winning dining
 and a variety of exciting outdoor adventures. The RockResorts collection
 includes The Arrabelle at Vail Square in Vail, Colo., Hotel Jerome in
 Aspen, Colo.; The Pines Lodge in Beaver Creek, Colo.; Keystone Lodge & Spa
 in Keystone, Colo.; The Lodge at Vail in Vail, Colo.; La Posada de Santa Fe
 Resort & Spa in Santa Fe, N.M.; Snake River Lodge & Spa in Jackson Hole,
 Wyo.; and The Landings St. Lucia, Rodney Bay, St. Lucia. Future RockResorts
 include; The Osprey at Beaver Creek (renovation to be complete in fall
 2008); Eleven Biscayne Hotel & Spa in Miami, Fla. (scheduled to open in
 2009); One Ski Hill Place in Breckenridge, Colo. (scheduled to open in
 winter 2009-2010); Rum Cay Resort Marina, The Bahamas (scheduled to open in
 2010); and the Third Turtle Club & Spa, Turks and Caicos (scheduled to open
 in 2011).

SOURCE Vail Resorts