NEW MANAGEMENT AND COMPLETED RENOVATIONS MARK TESORO’S FIRST YEAR

LOS CABOS, Mexico –2006 goes out with an enthusiastic bang for Tesoro Resorts, as the hotel chain celebrates the accomplishments of its first year in operation, and announces two pivotal management changes at their Los Cabos and Ixtapa hotel properties.

After two years in his position as General Manager of Tesoro Ixtapa and almost 30 years of experience in the hotel industry, Manuel del Callejo brings his hospitality expertise to the position of General Manager of Tesoro Los Cabos. The appointment, which officially took place on December 15, 2006, comes in response to Mr. Callejo’s superb track record at Tesoro Ixtapa and ongoing commitment to the Tesoro brand.

The position he leaves behind has been entrusted to Hildorfo Medina, a 38-year veteran of the hotel industry with training in both Mexican and U.S. markets. Mr. Medina, who got his start as the front office manager at Acapulco’s storied El Presidente Hotel, has managed nearly 20 resorts, to include work with Hyatt Hotels and Posadas de México Group, among others. He continues to demonstrate his vast knowledge of chain hotel operations in his role as General Manager of Tesoro Ixtapa, which began on December 1, 2006.

“We are pleased to end the year with these two individuals at the helm of Tesoro properties,” says Gabriel Igartúa, VP of Sales and Marketing at Tesoro Resorts. “Both Mr. Callejo and Mr. Medina bring with them undeniable skill that will help strenghten Tesoro’s commitment to its customers and nurture new concepts as the brand grows.”

Many of Tesoro’s new guest-oriented concepts are already in motion. As the countdown to the New Year begins, the hotel chain celebrates a number of achievements at all three Pacific Coast properties.

At Tesoro Los Cabos nearly all 286 rooms overlooking the Los Cabos marina have been updated and refurbished with tropical minimalist décor, and plans to add a rooftop restaurant and lounge are still underway. Additionally, Pirate’s Bay, the kids’ pirate-themed waterpark at 331-room Tesoro Manzanillo is open and bringing smiles to many faces. The park, which is surrounded by tropical gardens and covers 2,000 square feet, features a giant waterslide, a number of activities pools and a comprehensive recreational area designed to entertain young minds (entry is 80 pesos for kids and free for adults visiting on the All Inclusive plan). The hotel’s Adobe and Agave Tequila Cantina restaurants have also undergone substantial renovations.

And for Tesoro Ixtapa, yearend marks an increase in rooms from 170 to 205, thanks to the reacquisition of time shares, full-time ownership villas and rental units. The new rooms allow even more travelers to enjoy the resort’s fantastic location along Playa del Palmar in the heart of Ixtapa’s hotel zone.

California-based company, Steadfast Hotel Management, which launched Tesoro Resorts earlier this year, has committed to grow the chain’s inventory to eight properties in Mexico – five Tesoro hotels and three boutique properties – and possibly more in Central America over the next five years.

ABOUT TESORO RESORTS
The new resort chain, Tesoro Resorts, launched in 2006 with the purchase and rebranding of three all-inclusive Mexico properties in Los Cabos, Manzanillo and Ixtapa, emphasizing extraordinary value, striking surroundings and ‘treasured moments’ with family, friends and loved ones. Steadfast Resorts International (SRI) is a privately owned resort management consortium headquartered in Newport Beach, California. For more information or reservations at Tesoro Resorts, visit www.TesoroResorts.com or call 1-866-99TESORO.

Media contact:
Mexican Pacific Marketing
press@mexicanpacific.com
(949) 340-2602 (US) / +52 (314) 335-3207 (MX)

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Tesoro Resorts
Los Cabos, Manzanillo, Ixtapa
www.TesoroResorts.com
info@tesororesorts.com
US/Canadá: (866) 99TESORO (toll free)
Mexico: 01 (800) TESOROS (toll free)