Waterford, CT – July 17, 2003 – Waterford Hotel Group, Inc., a full-service hotel management firm, today announced the recent appointments of Russell Abell as Regional Vice President Operations and Raymond Nazzaro as Regional Vice President Sales.

“Collectively, Russ and Ray bring many years of industry-related experience to our organization. These two newly-created positions will allow our organization to better service the needs of the hotel properties in our portfolio, as well as to position Waterford Hotel Group for future growth” said Robert Winchester, President and COO of Waterford Hotel Group.

Mr. Nazzaro brings 19 years of sales experience to his new role. Most recently, he served as Area Director of Sales & Marketing with Crestline Hotels and Resorts. Prior to joining Crestline in 1989, he was the Director of Marketing at Grand Rapids Marriott and Senior Sales Manager at Austin Airport Marriott. Mr. Nazzaro is a graduate of Northeastern University in Boston having earned his B.S. degree in Recreation and Leisure Studies.

Mr. Abell has more than 20 years of hotel operations experience. Since 1999, he has completed a number of key assignments as an independent consultant in the hospitality industry, having worked with Waterford Hotel Group and other leading hotel companies in various capacities such as General Manager, Managing Director, Executive Director of Resort Operations, and Vice President/COO. Mr. Abell earned his Masters of Professional Studies at Cornell University, School of Hotel & Restaurant Management and his B.S. degree from the University of Maryland.

Waterford Hotel Group has experience operating virtually every type of hotel property, including limited services properties, all-suite hotels, conference centers, and large full service and resort properties. The company’s approach to hotel development and operations is hands-on, and features frequent site visits and constant communication with customers and partners. Additionally, Waterford Hotel Group offers centralized accounting, financial reporting, strategic marketing, human resources, and day-to-day operations management systems to increase market share and profitability at all properties. Waterford Hotel Group, with offices located in Waterford, currently operates 29 properties nationally. Franchises managed include Marriott, Starwood, Six Continents, Choice, Cendant, and Radisson, as well as independents. For more information, visit our website at www.waterfordgroup.net.