VAIL, Colo., / Following Vail Resorts' announcement on Oct. 17 that it would acquire a majority interest in Rockresorts International LLC on or about Nov. 1, 2001, Vail Resorts Chairman and Chief Executive Officer Adam M. Aron announced the appointment of Edward E. Mace as Rockresorts' new president, effective immediately.

Mace will assume responsibility for all facets of operating and developing Rockresorts, including the direction of the Rockresorts management company, its 11 owned and managed luxury resort hotels, as well the expansion of the Rockresorts collection of properties. Mace also will assume the presidency of the Vail Resorts Lodging Company, which includes all of Vail Resorts hospitality and property management operations. In addition to the 11 Rockresorts, Vail Resorts owns or manages 10 other hotels and some 2,000 condominium units. In all, Rockresorts will own or manage approximately 1,750 rooms and Vail Resorts Lodging Company will manage more than 5,000 additional hotel or condominium guest bedrooms.

Mace will be based in Rockresorts' new headquarters location in Denver, Colo. Previously, Rockresorts was headquartered in Scottsdale, Ariz. No announcement has been made as to how many, if any, of the former Scottsdale- based staff will relocate to Denver.

Mace will report to Vail Resorts Chairman and CEO, and Rockresorts Chairman, Adam Aron. Vail Resorts' current mountain lodging business will continue to report to Anton J. Piringer, based in Avon, Colo., who in turn will report to Mace.

Mace brings to Rockresorts and Vail Resorts a distinguished career in luxury lodging. For the past several years, he served with Fairmont Hotels, most notably as its president and CEO. Prior to joining Fairmont, he also served as president and CEO of Lincoln Hotels, and was a partner of Lincoln Property Company and KPMG Peat Marwick. He is a graduate with distinction of the Cornell School of Hotel Administration.

While with Fairmont, Mace was responsible for the renovation of The Plaza in New York City, and on his watch the Fairmont properties in San Francisco, San Jose, Dallas, Boston and Chicago also underwent significant renovations. He presided over the expansion of Fairmont as it added the Copley Plaza Hotel in Boston and the Ritz-Carlton, Kansas City, and resort hotels including the Kea Lani in Maui and the Fairmont Miramar in Santa Monica. He also spearheaded for Fairmont the merger with Canadian Pacific Hotels, after which Mace assumed management responsibility for the Scottsdale Princess and the Acapulco Princess among others.

In making the announcement, Adam Aron said, "Vail Resorts is truly excited by our announced acquisition of Rockresorts, and have found a terrific leader in Ed Mace for this important growth initiative. Ed is an immensely talented executive with extensive lodging experience. He has both hotel operations and hotel development expertise. He will be a great addition to our team as we work to establish the new Rockresorts and build on its legendary heritage. Rockresorts has earned a reputation as a very high quality resort operator throughout its storied history. Under Vail Resorts ownership and leadership, we will reinforce that commitment to excellent guest service and unique properties."

In commenting on his joining Rockresorts, Ed Mace said, "I am very pleased to join Vail Resorts, the premier mountain resort operator in North America, and am excited by its plan to build an intriguing resort portfolio around the legendary Rockresorts brand. The acquisition of the Ritz-Carlton Rancho Mirage, soon to become the 11th Rockresort, signals Rockresorts claims on becoming a significant player in the luxury resort business."

Vail Resorts is the premier mountain resort operator in North America, with the Colorado ski resorts of Vail, Beaver Creek, Breckenridge and Keystone, and the Jackson Hole, Wyoming-based Grand Teton Lodge Company. In October 2001, Vail Resorts announced it would acquire a majority interest in Rockresorts, a luxury resort hotel management company, in partnership with Olympus Real Estate Partners of Dallas. By Dec. 1, 2001, Rockresorts will own or manage 11 luxury resorts throughout the United States.