Bitter End Yacht Club and Grand Heritage Hotel Group Enter Into New Partnership

VIRGIN GORDA, British Virgin Islands, Jan. 19 /PRNewswire/ -- The Bitter End Yacht Club (http://www.beyc.com/), and Grand Heritage Hotel Group (http://www.ghhg.com/) have entered into a partnership to enhance one of the world's leading Caribbean destination resorts. GHHG's investment in BEYC will help further the multi-million dollar room renovation and facilities expansion already underway at the resort. GHHG has assumed day-to-day management responsibilities of BEYC and, together with the Hokin family ownership, will oversee the planned enhancements.

The renovations are scheduled to be completed this year and include major upgrades to the resort's open-air beachfront villas as well as BEYC's landmark restaurant, The Clubhouse Steak & Grill. Enhancements to the villas include new decor and custom furniture by noted interior designer, Barbara Hulanicki, who is well known for her design work for Island Outposts, namely Pink Sands in the Bahamas and the Marlin Hotel in Miami.

Dana Hokin, Managing Partner and owner of BEYC, commented, "Over the past 30 years the Bitter End has become one of the most well recognized and enjoyable resort destinations in the world. Our goal has always been to provide our guests with a unique experience that matches the special quality and character of our property. During my family's search for a partner to help take BEYC to the next level, Grand Heritage became the clear choice. They understand and respect our history and the commitment we have to our guests and bring tremendous expertise and vision to our team. To our guests, the Bitter End means world-class service delivered in an authentic Caribbean setting. Our partnership with Grand Heritage ensures that we will continue to deliver this promise." Ms. Hokin, a third-generation family owner, will lead the strategic planning efforts of BEYC as well as remain closely involved in all aspects of operations and guest fulfillment.

"Grand Heritage understands the importance of preserving the Bitter End experience. We know how to bring our professional management skills to unique properties while maintaining the culture and overall experience of the destination. Bitter End already has a strong management team, and we look forward to augmenting the system already in place," said John W. Cullen, founder and president, GHHG. "We are delighted to have Bitter End Yacht Club join Grand Heritage Hotel Group as our first Caribbean property. The unique offerings of this resort help to add further depth to our growing portfolio."

About the Bitter End Yacht Club

Located along the beach on the North Sound of Virgin Gorda, British Virgin Islands, and reached only by sea, Bitter End Yacht Club is the ultimate Caribbean resort for the water sports enthusiast. The Hokin family opened the resort in 1975 and has been welcoming families, couples and boaters for 30 years. Today the resort includes 77 beachfront guest rooms, the world's largest complementary fleet of more than 100 watercraft, 70 moorings and 20 slips, an on-site sailing school, snorkeling and diving excursions, two restaurants, shops, freshwater pool and private beaches. The Bitter End Yacht Club continues to be recognized by many leading travel magazines including, Travel & Leisure's 2004 'Top 500 Great Hotels in the World' and '100 Top Hotels for Service,' Outside magazine's 2004 'Caribbean A-list,' and Departures' 2004 Reader Survey 'Top Atlantic/Caribbean Resorts.'

About Grand Heritage Hotel Group

With offices in New York City and Portland, Oregon, Grand Heritage Hotel Group, LLC is one of the nation's premier owner/operators of upscale, independent hotels. Specializing in unique assets, Grand Heritage Hotel Group currently manages or owns The Stanley Hotel, Estes Park, Colorado; Vanderbilt Hall Hotel, Newport, The Biltmore, Providence, Rhode Island, The Governor Hotel and The Avalon Hotel, Portland, Oregon and Treetops Resort in Treetops Village, Michigan. Portland-based Endeavour Capital has committed growth capital to GHHG the company on a national and international level and GHHG continues to seek strategic acquisition and management opportunities.