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Sage to Manage Denver JW Marriott

Charles Biederman, Owner and Managing
Partner of the JW Marriott Denver at Cherry Creek announced today that
Sage Hospitality will be the hotel’s management company, effective May
2005. “Since opening in June, the performance of the hotel has far exceeded our
expectations,” states Biederman. “We are extremely grateful to the Denver
and Cherry Creek communities for our success and believe the best way to
continue that success is by working with Sage Hospitality, a very
well-respected, locally owned hotel management company.” Biederman
emphasized that joining with Sage will continue to enhance the luxury and
outstanding personal service, for which the JW Marriott hotels are known.

“We are pleased to add the JW Marriott Denver at Cherry Creek to Sage’s
portfolio of managed hotels,” states Walter Isenberg, President and CEO of
Sage Hospitality. “We look forward to working with the existing management
team to build upon the great reputation the hotel has established since
opening last year.”

The JW Marriott Denver at Cherry Creek is located in the heart of the new
Clayton Lane development at 150 Clayton Lane. The AAA Four-Diamond
awarding winning hotel boasts 196 luxury guestrooms and suites, over 5500
S.F. of meeting space and Mirepoix, the award winning restaurant. Adding
to the appeal of the hotel is the newly opened 9,000 S.F. Spa at Cherry
Creek, with salon and full-service spa treatment facilities.

“We have enjoyed tremendous success and acceptance in the marketplace
during our first 10 months of operation,” states Bob Trotter, the hotel’s
General Manager. “We believe that Sage is a natural partner for us because
of their strong presence in the Denver market. The depth of talent and
support they offer is literally across town from us.”

Trotter continued that he and his team are truly excited about this
partnership, and the opportunity to raise the bar even further in
providing the best hospitality experience in Denver.