Marriott to Manage Legendary Doral Golf Resort

Marriott International,
Inc. today announced that it has assumed management of the legendary Doral
Golf Resort & Spa in Miami, Fla. The 692-room property will officially be
named the Doral Golf Resort & Spa, A Marriott Resort and joins Marriott’s
world-class portfolio of 60 resorts worldwide. CNL Hotels & Resorts Inc.,
the nation’s second largest hotel real estate investment trust, acquired
the resort from KSL Recreation Corporation in April 2004. CNL plans to
invest over $40 million over the next three years in capital improvements
and expects to add a number of enhancements, including additional meeting
space. “We’re thrilled to be managing what is clearly one of the premier golf and
spa resorts in the country,” said Don Semmler, senior vice president,
southeast region, Marriott International. “Doral has over 40 years of
history and many longstanding traditions that we will embrace and enhance
with Marriott’s special brand of customer service.”

“We are extremely excited to expand our strong relationship with Marriott
International,” said Thomas J. Hutchison III, CEO of CNL Hotels & Resorts.
“The marriage of the legendary Doral brand and Marriott’s broad-based
management expertise promises to deliver an outstanding business and
leisure destination, further enhanced by the global marketing reach to
loyal Marriott customers.”

Situated on 650 acres, the Doral Golf Resort & Spa features five
championship golf courses, 90,000 square feet of meeting space, five
restaurants, the acclaimed Jim McLean Golf School and the famed Arthur
Ashe Tennis Center. The Blue Lagoon water recreation park features a
125-foot slide, waterfalls, cabanas, beach and boardwalk, and Camp Doral
offers a full program of athletic and leisure activities for children.
Awards and accolades recognizing the resort are numerous and include the
prestigious ranking as one of the top 10 spas in the world on Conde Nast
Traveler’s Gold List. In addition, the Blue Monster Course has been rated
Best in the World by The Golfer magazine and is among the “Top 100 You Can
Play” according to Golf magazine.

Frank Garahan, a 25-year Marriott veteran and most recently general
manager of Marriott’s Rancho Las Palmas Resort & Spa in Rancho Mirage,
Calif., has been appointed general manager of the resort.

Marriott Golf, the company’s golf management division, will also take over
management of the golf operations at Doral. Marriott Golf currently
operates 47 golf courses at 37 facilities, offering more than 800 holes of
championship golf in the U.S., Central America, the Caribbean, Europe and
the Middle East. Marriott has been managing golf operations since 1970.

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For more information or reservations, contact the Doral Golf & Spa Resort,
A Marriott Resort directly at (800) 71-Doral, call the Marriott Worldwide
Reservations Center at (800) 455-8254, or visit the hotel’s web site at
http://www.doralresort.com/. Special summer packages are available through
Sept. 30, 2004, offering savings of over 50 percent off in-season rates.
Marriott Hotels & Resorts properties participate in the company’s award-
winning Marriott Rewards(R) frequent guest program. Members earn their
choice of points toward free vacations or frequent flyer mileage for
dollars spent at more than 2,400 Marriott hotels worldwide.
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