THE RITZ-CARLTON HOTEL COMPANY, LLC TEAMS WITH CAPPELLI ENTERPRISES TO CREATE A LUXURY HOTEL AND RESIDENCES AT RENAISSANCE SQUARE

The Ritz-Carlton, Westchester Will Be a New 40-Story Landmark
In Downtown White Plains, NY With More Than 400 Private Residences

WHITE PLAINS, NY (May 16, 2006) -- The Ritz-Carlton Hotel Company, L.L.C. and developer Louis R. Cappelli today announced plans to open a 123-room luxury hotel with more than 400 private condominiums in downtown White Plains, New York. The Ritz-Carlton, Westchester and The Residences at The Ritz-Carlton, Westchester are part of a $400 million project currently under construction at the intersection of Main Street and Mamaroneck Avenue.

Housed within two 40-story towers, the hotel and residences will be a landmark structure, designed by the architectural firm of Costas Kondylis and Partners of New York City, with interiors by renowned interior designer, Frank Nicholson. The two soaring towers will rise from the 10-level hotel podium, with stories 11-40 containing The Residences. The expected opening date of the first tower, with 213 residences and 23 condominium-hotel units is early 2008. 

The Ritz-Carlton, Westchester will be an integral part of the 940,000 square foot complex called Renaissance Square, being developed by Louis R. Cappelli, with a 10,000-square-foot spa and fitness center; two fine dining restaurants, and 10,000 square feet of meeting and special event space. One of the restaurants will offer spectacular views of the Manhattan skyline, Long Island Sound, and the Hudson Valley from its location 400 feet above the ground atop one of the towers.

“I believe Westchester is an important location to enhance the portfolio of The Ritz-Carlton Hotel Company,” said Simon F. Cooper, President and Chief Operating officer. “Many Fortune 500 companies have a presence in the region, and it is a very attractive place to live for affluent consumers who enjoy the proximity to Manhattan in an exclusive suburban setting,” he added.

“We spent a great deal of time evaluating the options for this site. The Ritz-Carlton brand truly stands alone; it is associated worldwide with the finest reputation for luxury hotels and residences,” said Louis R. Cappelli. The five star luxury lifestyle, level of design, amenities, and services we will offer hotel guests and condominium owners is unprecedented in any Manhattan suburb.” 

White Plains Mayor Joseph Delfino stated, “The arrival of Westchester’s first luxury hotel in White Plains is another significant sign of the City’s continuing resurgence, economic strength and prestige. The project will generate approximately 1,000 construction jobs and more than 150 permanent jobs. The Ritz-Carlton, Westchester will help attract visitors from across the country to White Plains.”

Westchester County Executive Andrew Spano noted, “The new concept of ‘going downtown’ means going to White Plains, not Manhattan. The fact that The Ritz-Carlton Hotel Company has chosen White Plains for their first suburban location further validates the growing importance of White Plains and Westchester County as among the most prestigious locations in the Northeast.” 

“The opportunity for condominium owners to access facilities of The Ritz-Carlton, Westchester while enjoying their own private and abundant amenities is truly unique in Westchester County,” said Adrienne Albert, President of The Marketing Directors, Inc., the exclusive selling agent of the residences. “The combination of the Ritz-Carlton Brand and Louis Cappelli’s exciting and unique building design will offer hotel guests and condominium purchasers the luxury and quality product not found anywhere in the region.”

The Ritz-Carlton Hotel Company, L.L.C. of Chevy Chase, Md., (USA) currently operates 61 hotels in the Americas, Europe, Asia, the Middle East and Africa. Over 20 projects are under development around the globe with hotel openings planned for Moscow, Ireland, and two in Beijing over the next year.  The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldrige National Quality Award, which recognizes outstanding customer service. For more information contact The Ritz-Carlton toll free reservations at 1 (800) 241-3333, your travel consultant or visit www.ritzcarlton.com. 

Cappelli Enterprises is an acknowledged leader in creating and building major innovative mixed-use redevelopment projects in White Plains including the highly successful City Center, Trump Tower, One City Place and The Lofts at City Center.  The company has redevelopment projects that are reshaping other downtown areas across Westchester and Fairfield counties.