Vail, CO (Monday, May 9, 2005) - RockResorts last week announced that the 56-room Lodge & Spa at Cordillera at Colorado's Beaver Creek has been added to its collection of luxury ski and snowboard resort destinations. RockResorts will manage the hotel under contract with its owner, a joint venture of Pharos Group, LLC and Value Enhancement Fund V. Cordillera is the latest member of the luxury brand for the hospitality company based in Denver, Colorado.

"We are thrilled to have The Lodge & Spa at Cordillera in the RockResorts family," said Ed Mace, President of RockResorts and Vail Resorts Lodging Company. "The hotel exemplifies the traditions of superior guest service, world-class amenities and luxury in unforgettable settings -- all signatures of the RockResorts brand."

The Lodge & Spa at Cordillera was built in 1988. The resort underwent a $6 million renovation in July of 2004, and has received the AAA Four-Diamond Award for 15 consecutive years. The Chateau-style hotel is set high atop a private mountain with transcendent views of the Vail Valley, and guests enjoy access to the facilities of the exclusive Cordillera community. Amenities for the Lodge & Spa's visitors include private fly-fishing on the Eagle River, a newly renovated, 22,000 square-foot Spa, an Equestrian Center, a full Nordic center with 17 miles of maintained trails, and four dining choices. Golf enthusiasts take advantage of the three championship golf courses designed by Jack Nicklaus, Hale Irwin, and Tom Fazio, as well as a Dave Pelz Par-3 Short Course.

"We look forward to working with RockResorts," said Harry Rosenthal, President of Pharos Group, which manages the hotel's ownership company. "The Lodge should fit well with their core business of operating unique luxury destinations."

"The Lodge and Spa at Cordillera has long been considered a superb resort hotel with its year-round and first-rate golf, skiing or spa amenities. As the newest RockResort, it further underscores our ability to add managed hotels through management contracts rather than through acquisition," said Adam Aron, chairman and chief executive officer of Vail Resorts, parent company of RockResorts. Aron continued, "Vail Resorts continues to explore avenues to sell some of our owned hotels, while at the same time increasing the number of hotels that we manage."