Tepic Management Group Enters Joint Venture with Rim Hospitality Canada, Forming a Firm with $200 Million in Hotel Management Assets

VANCOUVER, B.C., Canada and MODESTO, Calif. - October 17, 2007 - Tepic Management Group (one Canada's leading strata hotel management companies), today announced it has entered into a joint venture with Rim Hospitality (one of the 40 largest hotel management companies in the United States), to form Rim Hospitality Canada, Inc., a Canada-based joint venture with $200 million in hotel management assets.

"To be able to leverage Rim's depth and bench strength with our base here in Canada will give us a great advantage and open many new doors as we move forward as Rim Hospitality Canada," said Tom Matthews, president of Tepic Management Group and president of Rim Hospitality Canada. "The Rim team is fantastic to work with. We look forward to melding Rim's strengths in branded and franchise hotel management with our strength in strata hotel management."

Tom Matthews and Ellen Walker Matthews have more than 28 years experience in the hotel, hospitality and tourism industry with Westin, Four Seasons and Delta hotels and have built Tepic Management Group into a leader in the condo/strata hotel market in Canada.

"Partnering with Tepic's owners (Tom Matthews and Ellen Walker Matthews) to form Rim Hospitality Canada is a great opportunity for us," said Mark Burden, president and CEO of Rim Hospitality. "Not only do we open the doors of Rim Hospitality Canada, but to do so with Tom and Ellen as part of the Rim team leading our joint venture - that's awesome. Additionally, Rim has now entered the strata hotel market (also known as the 'hotel condo' market), which we see as an exciting opportunity."

About Tepic Management Group
Formed in 1992, Tepic Management Group (www.tepicgroup.com) is one of the most recognized names in the strata/condo hotel management industry, with more than 1,000 rooms under contract (from small boutique hotels to expansive resort destinations, primarily in Western Canada). Each property has its own unique and Canadian style in the upscale market in distinctively different locations.

About Rim Hospitality
Formed in 1983, Rim Hospitality (www.rimhospitality.com) is one of the top hotel management companies in California and one of the 40 largest such firms in the U.S. With nearly 40 properties in its portfolio representing 18 full-service, select-service, resort and independent boutique hotels, Rim manages more than 3,200 guest rooms today, with more than 2,300 additional rooms in its development pipeline. Through Rim Hospitality Canada (www.rimhospitalitycanada.com), Rim is one of the largest hotel management companies in western Canada, with nine properties and more than 1,000 rooms under management today. During its history, Rim has also directed the complete construction of more than a dozen hotels, as well as overseeing major renovation work in scores of other properties.

Rim Hospitality Contact: 
For more information about Rim Hospitality's hotel management services, please contact Mark LeBlanc, Senior Vice President of Development at 209-602-4432 or mleblanc@rimcorp.com.

Rim Hospitality Canada Contacts:
For more information about Rim Hospitality Canada's hotel management services, please contact Ellen Matthews, Vice President of Sales & Marketing, at 250-809-9290 or ematthews@tepicgroup.com.

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MEDIA CONTACTS: 
Chip Smith, SOAR Communications, 801-523-3730(work), 801-597-7515(cell), csmith@soarcomm.com or
David Politis, SOAR Communications, 801-523-3730(work), 801-556-8184(cell), poppa.p@soarcomm.com