KSL CAPITAL PARTNERS ANNOUNCES ACQUISITION OF
INTERCONTINENTAL MONTELUCIA RESORT & SPA IN SCOTTSDALE, ARIZONA

DENVER, Colo. (May 23, 2011) - KSL Capital Partners, LLC (KSL) announced today that it has acquired InterContinental Montelucia Resort & Spa in Scottsdale, Arizona. Opened in 2008, the resort boasts 293 rooms and suites, five pools, six dining options, the 31,000 square foot Joya Spa with 19 treatment rooms, and more than 90,000 square feet of indoor and outdoor meeting space. Nestled at the base of Camelback Mountain, the resort’s convenient central location offers easy access to the area’s best golf, recreation, nightlife and entertainment.  Montelucia has been extraordinarily well received by its guests having been ranked #13 on Travel + Leisure’s list of the “Top 50 Resorts in the U.S. and Canada.” 

Following the acquisition, the resort will operate as an independent luxury resort, Montelucia Resort & Spa, and will remain affiliated with InterContinental Hotels & Resorts as an InterContinental Alliance Resort.  The resort will be managed by KSL Resorts, a leading independent hotel management company. KSL Resorts has a rich history in the market, having managed the Arizona Biltmore Resort & Spa from 2000 to 2006.
As an InterContinental Alliance Resort, the resort will have access to IHG’s global reservations system and marketing channels.  Guests at the resort will be able to continue to benefit from the InterContinental Hotels “in the know” experience as well as IHG’s Priority Club® Rewards, the world's largest hotel loyalty program with 58 million members.

“Montelucia Resort & Spa has quickly become the preeminent luxury resort in the Scottsdale area, offering the services and amenities that today’s travelers demand in an unparalleled setting,” said Bernard Siegel, principal at KSL Capital Partners. Moreover, Scottsdale is one of most desirable vacation spots in the United States.   The combination of management by KSL Resorts and being an InterContinental Alliance Resort will bring a whole new level of luxury and service to the market.”
About Montelucia Resort & Spa
Inspired by the rich history, white-washed villages and sun-drenched hills of Spain’s Andalusia region, Montelucia Resort & Spa brings the essence of Europe to the heart of Scottsdale. With arching entryways, splashing fountains, floral walkways, and a collection of antiquities hidden throughout the property, Montelucia is an enchanting resort destination that boasts 293 luxuriously appointed guestrooms, the Moroccan-inspired Joya Spa, six tempting dining options including the critically-acclaimed Prado restaurant, a myriad of radiant pools and breathtaking views of Camelback Mountain. Montelucia Resort & Spa also includes the adjacent luxury Montelucia Villas single-family home community.  These villas include expansive 4,200 square-foot residences that enjoy views of Camelback Mountain and have access to the services and amenities of the resort.
For more information, please visit www.montelucia.com.

About KSL Capital Partners
KSL Capital Partners is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL Capital Partners has offices in Denver, Colorado and New York. For more information, please visit www.kslcapital.com.

KSL s current and prior investments include some of the premier properties in travel and leisure, including Grand Wailea Resort Hotel & Spa, The Royal Palm, La Costa Resort and Spa, Hotel del Coronado, the Claremont Hotel Club & Spa, the San Francisco Bay Club and its sister clubs, as well as ClubCorp, the world’s largest owner of private golf and business clubs.  KSL also owns other premier recreation businesses, including Squaw Valley USA, one of the leading ski resorts in North America, Western Athletic Clubs, the owner and operator of luxury fitness clubs on the West Coast, and Orion Expedition Cruises, a luxury expedition cruise operator based in Sydney, Australia. 

About KSL Resorts
Founded in 1992, KSL Resorts manages eight time-honored resorts with outstanding recreational amenities, including spa, golf, tennis and ski. Each is refined yet unpretentious, rich in legacy, and genuine in service. The KSL Resorts are:
• Montelucia Resort & Spa (Scottsdale)
• Hotel del Coronado (San Diego)
• Beach Village at The Del (San Diego)
• La Costa Resort and Spa (Carlsbad, Calif.)
• Rancho Las Palmas Resort & Spa (Rancho Mirage, Calif.)
• Vail Mountain Lodge & Spa (Vail, Colo.)
• Barton Creek Resort & Spa (Austin, Texas)
• The Homestead (Hot Springs, Va.)

For more information, please visit www.KSLResorts.com.

About IHG
InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is a global company operating seven well-known hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites® . IHG also manages Priority Club® Rewards, the world’s first and largest hotel loyalty program with 58 million members worldwide.

IHG is the world’s largest hotel group by number of rooms and IHG franchises, leases, manages or owns, through various subsidiaries, a portfolio of over 4,400 hotels and more than 652,000 guest rooms in 100 countries and territories around the world.  IHG has more than 1,200 hotels in its development pipeline and expects to recruit around 160,000 people worldwide over the next few years.  InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales.  IHG offers information and online reservations for all its hotel brands at http://www.ihg.com and information for the Priority Club Rewards program at www.priorityclub.com. For our latest news visit www.ihg.com/media, Twitter www.twitter.com/ihgplc or YouTube http://www.youtube.com/ihgplc