Vail Cascade Resort & Spa is proud to announce that once again it has been named to the distinguished Cond� Nast Traveler Gold List. The 10th annual Gold List represents the top 700 hotels, resorts, spas and cruise lines throughout the world, with each evaluated on and chosen for the quality of its rooms, service, restaurants, location and activities. The Gold List is compiled from surveys completed by more than 32,000 of the magazine�s subscribers, and this is the seventh consecutive year that Vail Cascade Resort & Spa has been honored by the readers of Cond� Nast Traveler.

�We are extremely proud that our guests have again ranked us among the top resorts in the world,� said Jay Rocha, general manager, Vail Cascade Resort & Spa. �This recognition strengthens our dedication to meeting the highest expectations of every guest and providing nothing less than total satisfaction through world-class service.�

Vail Cascade Resort & Spa is one of only 14 Colorado resorts to be named to the Gold List. The resort has also been recognized by Cond� Nast Traveler as the 4th Best Ski Resort in North America (2002) and was previously ranked the 6th Best ski Resort in North America (2000, 2001) according to the reader�s poll. The resort�s spa, Aria Spa & Club, has been recognized by 5280 magazine as Vail�s �Top Spa Experience� (2002). Additionally, Vail Cascade Resort & Spa is Vail�s premier AAA Four-Diamond ski-in/ski-out property, and the resort�s restaurant Chap�s Grill & Chophouse is the premier steak and chophouse in Colorado.

Never content with the �status quo,� Vail Cascade Resort & Spa recently announced a new $5 million renovation project set to makeover all 292 rooms and suites in the resort, as well as the common areas and corridors. The two and a half month project, which is the final phase of a four-year, $20 million dollar renovation, is slated to begin April 2004 and conclude in June.

Vail Cascade Resort & Spa photos are available for reproduction and can be downloaded via the Internet at www.kruzic.com and www.vailcascade.com

### Vail Cascade Resort & Spa is one of 24 independent, upscale and luxury hotels, resorts and golf clubs in the United States managed by Destination Hotels & Resorts, a privately held company located in Englewood, Colorado. Each distinctive, well-situated Destination Hotels & Resorts managed property offers exceptional recreational, business travel and conference facilities. You can visit Destination Hotels & Resorts online at www.destinationhotels.com. Travel professionals can access Destination Hotels & Resorts� properties, including Vail Cascade Resort & Spa on the global distribution system via the company�s chain code, DN. Destination Hotels & Resorts (DH&R) has formed a sales and marketing alliance with De Vere Hotel Group PLC, in the United Kingdom allowing DH&R to increase its portfolio presence in the UK with a company whose customer base and product offering is very similar to its own. De Vere Hotels is a distinctive collection of 21 of the UK�s finest four- and five-star hotels, featuring 3,300 rooms and is highly regarded for delivering excellent service in hotels that have maintained their individuality. These include nine leading golf resorts, such as the world famous The De Vere Belfry, host to four Ryder Cups. De Vere also has an impressive string of south coast hotels including The De Vere Grand, Brighton as well as outstanding destinations such as the De Vere Cameron House on the shores of Loch Lomond, Scotland. The latest addition is the elegantly refurbished De Vere Cavendish, St. James�s, London, located in the heart of the fashionable West End. The hotels are positioned to serve both the conference and upper short breaks market as well as the discerning business traveler. www.devereonline.co.uk For more information about Vail Cascade Resort & Spa, special events, packages or to make reservations call 1-800-420-2424. Or, contact the resort via the Internet at: www.vailcascade.com, or via email at: info@vailcascade.com.

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Media Contact: Amy Larson +1 (303) 329.6229 amy@kruzic.com