Levy Joins Pyramid Hotel Group as Senior Vice President of Finance

BOSTON, Mass., August 30, 2005 — Pyramid Hotel Group LLC (Pyramid), a Boston-based hotel development, management and ownership firm, today announced that Jack A. Levy has joined the company as senior vice president of finance. "Pyramid is entering a major growth phase," said Richard Kelleher, Pyramid's chief executive officer. "Jack brings more than 30 years of experience in the hospitality, leisure and real estate industries and will make a major contribution to our continued growth."

“In support of this growth, Jack will play a key role in analyzing and structuring financial transactions involving the acquisition and development of hotel properties, stated Dan Wright, CFO.  “Further he will provide budgeting and forecasting support to the management operations team.”

Prior to joining Pyramid, Levy provided consulting services to companies such as General Electric Asset Management, Candlewood Hotels, Best Western Hotels, Del Webb and Pacific Life Insurance Company.  He also has served as senior vice president and treasurer of Pebble Beach Company, vice president of mergers and acquisitions for Promus Hotel Company and vice president of strategic planning and investor relations for Doubletree Hotel Company. Previously, he worked for years at The Beacon Companies of Boston in the development and financing of commercial, residential and hotel properties throughout the US.

Levy holds a Bachelor of Science in Management from the Massachusetts Institute of Technology. He has served as a real estate industry representative on the Massachusetts State Building Code Commission and the Greater Boston Chamber of Commerce, and has been involved with numerous community and charitable organizations in Massachusetts and Arizona.

Pyramid Hotel Group LLC, founded in 1999, is a full-service hotel company that owns, manages and asset manages hotels and manages hotel construction/renovation projects. For more information about the company and its affiliates, visit the company’s website, www.pyramidadvisors.com