Appointments

Tishman Hotel Corp Names Industry Leader Bill Mccreary President

NEW YORK, February 27, 2003‹Tishman Hotel Corporation (THC) has appointed Bill McCreary as its new President, it was announced today by John A. Vickers, Chairman & CEO of THC.

Tishman Possessing 32 years of experience in the hospitality and hotel management business, Mr. McCreary will oversee all of the organization¹s business activities and operations, new business efforts, and management contracts, which comprise approximately 10,000 rooms across the U.S., in the Caribbean, and in eastern Europe.

Among the well-known hotels that THC manages are The Westin Rio Mar Beach Resort & Golf Club in Puerto Rico; The Radisson Deauville Resort Miami Beach; the Four Points Sheraton at Los Angeles International Airport; and boutique hotels The Shoreham, The Mansfield, The Franklin, and The Roger Williams in Manhattan. Tishman also asset manages such prestigious properties as The Sheraton Chicago Hotel & Towers, The Westin New York at Times Square, and the Walt Disney World Swan & Dolphin Resort.

"Tishman is a pace-setter in hotel development, asset management, and property management," said Mr. McCreary. "I couldn¹t be more pleased than to receive the opportunity to join this dynamic organization."

A 15-year History with Tishman Hotels

Mr. McCreary has been involved with Tishman hotels since 1989, when as General Manager, he opened the Walt Disney World Swan Resort in central Florida. The 758-room property is owned by Tishman Realty and partners, and is operated by Westin. For several years after that, he was Senior Vice President at the Headquarters of Westin Hotels & Resorts, where he was responsible for all Westin hotels in the eastern half of the United States and led the company¹s implementation of its Total Quality Management Program.

In 1993, Mr. McCreary joined Sheraton Hotels & Resorts and became General Manager of the 1,509-room Walt Disney World Dolphin. Subsequently, when Sheraton and Westin became brands of Starwood Hotels & Resorts, he was appointed General Manager of both the Dolphin and Swan, consisting of 2,267 rooms and 330,000 sq. ft. of convention and meeting space.

During his career, Mr. McCreary has managed hotels, and opened hotels and expansions in San Francisco, Atlanta, Los Angeles, Tulsa, Hawaii, and Singapore. He began his career at the famous St. Francis Hotel in San Francisco.

Hotels under his leadership have won every major industry award. In 1993 and 1997, the Walt Disney World Dolphin was named Sheraton Hotel of the Year. He was named Hotelier of the Year for 1999 by the Central Florida Hotel & Lodging Association, was an inaugural inductee in Florida State University¹s School of Hospitality Hall of Fame, and was named 2002 Hotelier of the Year by the Florida Hotel & Motel Association.

Mr. McCreary served in the United States Army, rising to the rank of First Lieutenant, and was an Airborne Ranger with the First Cavalry Division Airmobile in Vietnam. His 30 military awards, commendations, and recognitions include the Silver Star medal for gallantry in action and three Bronze Star medals.

Educated at Linfield College in Oregon, he holds a B.A. in biology, a diploma with honors from the Educational Institute of the American Hotel & Motel Association, and is a Certified Hotel Administrator.

Tishman Hotel Corporation Background

Tishman Hotel Corporation (THC) is a leading U.S.-based Hotel Management firm, which also provides Investment Banking, Development, and Hospitality Advisory services. THC manages approximately 10,000 hotel rooms nationwide, in the Caribbean and Europe, and in conjunction with its affiliates, has provided services to more than 160 hotels totaling over 80,000 hotel rooms. "Hotel Business" magazine ranked THC as the #4 independent hotel management company in the nation in 2002.

Properties owned by Tishman affiliates include The Walt Disney World Swan and Dolphin Hotels in Orlando; The Hilton in the Walt Disney World Resort in Florida; the Sheraton Chicago Hotel & Towers; The Westin Chicago River North; and The Westin New York at Times Square, which opened in October, 2002.

Properties managed by THC include The Westin Rio Mar Beach Resort & Golf Club in Puerto Rico; The Goodwin Hotel in Hartford, Conn.; The Four Points Sheraton @ Los Angeles International Airport; The Radisson Deauville Resort Miami Beach, Florida; The Shoreham, The Mansfield, The Franklin, The Roger Williams, and The Clarion Fifth Avenue Hotel in New York; Doubletree Club Hotel Los Angeles International Airport and the Ramada Plaza Hotel LAX - El Segundo, in Hawthorne, Calif.; The Crown Plaza Harrisburg in Harrisburg, Pa; the Radisson O'Hare near Chicago's International Airport; and the Courtyard by Marriott Warsaw International Airport Hotel in Poland, scheduled to open later this year.

THC is an affiliate of Tishman Realty & Construction Co., Inc., one of the world's premier real estate managers, developers, owners, builders, and advisors, founded in 1898 and headquartered in New York.



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