Turtle Bay Resort Announces New Ownership

North Shore, Oahu, HI, February 23, 2010 – Turtle Bay Resort, one of Hawaii’s finest resorts on the North Shore of Oahu, announced today that a consortium of investment management firms has become the resort’s new owner.

The new ownership group assumed control of the resort, which includes a 443-room hotel, two championship golf courses, a spa and a full range of resort amenities, effective Feb. 23, 2010. The new owners have already invested significant capital into the resort in order to facilitate improvements.

“Turtle Bay Resort and the new ownership group are committed to the community of the North Shore,” said Stanford Carr, local real estate developer and acting interim management officer. “We intend to maintain this special property at the highest level and preserve the environment. Everyone has worked to facilitate a seamless transition for the property, its employees and guests. It will be business as usual at the hotel and golf courses and the recognizable Turtle Bay Resort name and logo will remain unchanged.”

Under the management of Benchmark Hospitality Group, Turtle Bay Resort was a market leader throughout 2009, buoyed by kama’aina visits and traditional Southern California visitors to Hawaii.

“This is a great day for Turtle Bay Resort and all of its employees,” said Bob Boyle, vice president and regional director of operations for Benchmark Hospitality. “We feel we now have a clear direction for our future. We look forward to building upon the positive working relationship with the new owners.”

About Turtle Bay Resort, LLC

Located on the North Shore of Oahu, the 880-acre Turtle Bay Resort is operated by Benchmark Hospitality International and is a Preferred Hotels® & Resorts Worldwide property - a collection of the world's finest independent luxury hotels.

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