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Bellstar Celebrates Acquisition of Ultimate Resorts & Hotels

CALGARY, ALBERTA: (November 19, 2010) Bellstar Hotels & Resorts announces the acquisition of Ultimate Resorts & Hotels, adding over 300 more accommodation units located in the resort destinations of Kicking Horse Mountain Resort near Golden, B.C.; Canmore, Alberta; and Kimberley, B.C., substantially increasing its vacation and winter destination offerings and complimenting the existing property portfolio in Canmore, the Okanagan and the Whistler/Pemberton corridor.

"This exciting acquisition will prove to be a great fit with our existing properties," declared Ed Romanowski, President & CEO of Bellstar Hotels & Resorts. "Our offering to guests will be dramatically enhanced with the addition of Kicking Horse Mountain Resort, an exceptional ski and year round adventure destination, and further complement our current vacation offerings in the Whistler area, Canmore, the Okanagan and Kimberley."

The deal, which results in Bellstar guests having the choice of four mountain destinations, will offer increased profiling and exposure for the unique resorts in which Bellstar is a market leader. Steve Paccagnan, President & CEO of Kicking Horse Mountain Resort agrees: "We are delighted to be working with such an esteemed group of lodging professionals. Bellstar's acclaimed business platform will bring Kicking Horse Mountain Resort in line with other world class mountain destinations, a considerable milestone appropriately marking the resort's 10th year Anniversary."

Founded in 2002, Ultimate Resorts & Hotels' portfolio of luxury vacation properties, including a collection of some of the most exclusive mountain homes in the Canadian Rockies, will be rolled into the Bellstar family of resorts and position Bellstar with a unique rental offering for its guests from around the globe. According to Eric Watson, founder of Ultimate Resorts & Hotels: "Our unmatched portfolio of ski-in, ski-out vacation homes and lodges are the perfect complement to Bellstar's acclaimed summer destination resorts in the Okanagan, as well as supplement year-round offerings in both Canmore and the Whistler area. The fusion of Ultimate and Bellstar will reinforce the brand's position as the leader in its market, and with upwards of 1,200 units across Western Canada, will make Bellstar the most attractive single source choice for vacationers seeking quality resort experiences in Alberta and BC's finest resort destinations." Eric Watson will take the role of Vice President of Corporate Development at Bellstar.

"The partnership with Ultimate will grow the Bellstar brand exponentially, whilst still retaining the founding values that govern our collection of uniquely positioned resort properties," concludes Ralf Strub, Vice President of Operations at Bellstar. "Substantially strengthening our winter product offering will ensure a balanced year for the business; benefiting our reservations as well as increasing opportunities for staff, guests and owners. Bellstar takes great pride in our employees and with year-round opportunities for staff, we anticipate improved retention and a superior standard of service, across all properties."

The acquisition of Ultimate will also expand Bellstar's real estate marketing services through Ultimate Properties Realty – a new arm to Bellstar, with an already established real estate brokerage business. "This will benefit our owners in offering services by REALTORS™ that are very knowledgeable about the resort real estate and also enhancing our capacity for property management services," said Ralf Strub.

About Bellstar Hotels & Resorts
Bellstar manages and develops destination resorts and boutique hotels in Alberta's Rocky Mountains and in British Columbia's Okanagan Valley and Coastal Regions – and now at Kicking Horse Mountain Resort near Golden, B.C. The boutique hospitality brand combines award-winning service, employment standards and marketing excellence to deliver exceptional resort experiences for guests and owners alike. For more information on Bellstar visit www.bellstar.com

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Media Contact:
Marisa Cuglietta
Bellstar PR Representation
Hawksworth Communications
Ph: 604.609.6678
E: marisa@hawksworth.ca

Bellstar Hotels & Resorts Contact:
Ed Romanowski
President & CEO
T: 403 819 3055
E: edr@bellstar.ca