The Alexander Board Meeting 24 September 2013 Review of Richfield operating structure and proposed positioning for Alexa

1. The Alexander Board Meeting 24 September 2013 Review of Richfield operating structure and proposed positioning for Alexander.

3. AGENDA

4. RHI IS AN ESTABLISHED HOTEL MANAGEMENT COMPANY Richfield was founded in 1968 as AIRCOA and since has managed over 600 hotels. Richfield is an approved operator by the following franchise systems: Richfield has over 40 years of experience as an owner & operator.

5. City Developments Limited (CDL) Stock Exchange of SingaporeUS $7 Billion Market capitalization • OUR OWNERSHIP STRUCTURE Richfield and Sceptre exclusively serve the hospitality industry City e-Solutions (CES) Listed on the Hong Kong Stock Exchange Millennium & CopthorneHotels plc(M&C) Listed on the London Stock Exchange Swan Holdings USA Privately Held EntityDenver, CO USA Whiteboard Labs, LLC Privately Held EntityHouston, TX USA Richfield Hospitality, Inc(RHI) Privately Held EntityDenver, CO USA Sceptre Hospitality Resourcesllc Privately Held EntityDelaware USA

6. CDL IS ONE OF ASIA’S LARGEST GLOBAL REAL ESTATE PORTFOLIO City Developments Limited has a market capitalization exceeding US $7 billion. JW Marriott Hong Kong Millennium Hilton Bangkok Novotel Singapore W Singapore Millennium Hilton NYC St. Regis Singapore

7. THE ALEXANDER OPERATING OPPORTUNITIES Opportunity: The Alexander hotel would benefit from affiliating with a globally recognized brand that maintains a collection of independently recognized hotels & resorts. This will not only improve hotel revenues and operations, but also increase property value. Optimal Hotel Performance & Property Valuation

8. INDEPENDNET BRAND AFFILIATIONS INVOLVING RHI The Mayfair London (Millennium) The Casa Moderna Miami The Bailey’s Hotel (Millennium) Millennium Knickerbocker Hotel Chicago The Joule, Luxury Collection The Millennium Bostonian Hotel Millennium Hotel Paris Opera The Los Angeles Biltmore (Millennium)

9. BRAND AFFILIATION OPPORTUNITIES FOR THE ALEXANDER Affiliate with Millennium & Copthorne Hotels, plc Support infrastructure: *Third party intermediary/online travel agent

10. THE ALEXANDER PROFORMA BY RICHFIELD HOSPITALITY Opportunity: unleash hotel asset value & exceed fair market share. The Richfield proforma for the Alexander projects aggressive growth potential over the next 5 years. • *US hotel industry performance for upper upscale hotels according to Smith Travel Research (trailing 12 month ending July 2013): • ADR 4.3% growth • Occupancy 1.4% growth • RevPAR 5.8% growth • Note: Richfield Hospitality recognizes the importance of unit owner engagement & support in order to satisfy demand (consumer) as well as owner expectations. This proforma is predicated on ownership engagement of which is an operation priority for Richfield to earn the trust & support of the unit ownership group.

11. POISED FOR GROWTH & FOCUSED ON FULL SERVICE OPERATIONS Serving over 3,500 Hotels

12. RICHFIELD IS FINANCIALY CONSERVATIVE Richfield Hospitality, Inc. is positioned for rapid growth and development via acquisitions, joint ventures and takeovers of distressed hotel assets. Richfield carries no debt and has a solid history of strong cash positions. Consolidated balance sheet cash and Investments (millions of dollars)

13. HR BENEFITS & PAYROLL Richfield centrally administers all benefits programs and payroll support. Our risk management and safety programs are structured to ensure compliance and minimize exposure.

14. REAL-TIME FINANCIAL REPORTING The RHI financial suite is a software application that allows us to remotely oversee and monitor all finances on an above-store basis without added labor at the property. All financial reporting is automated through seamless interfaces. RHI provides complete financial transparency with real-time benchmarks. The RHI CapEx philosophy is incorporated within the operating agreements & managed through ongoing budgeting, forecasting and procurements processes in accordance to brand standards, as well as hotel real estate best asset management practices. CapEx

15. CORPORATE COMMUNICATIONS & TECHNOLOGY SUPPORT RICHNET

16. NEW METRICS = REPUTATION + PRICE + MARKETABILITY Other Stakeholder Indices: Brand GSS and MPSI Owner sentiment and ROI Associate Satisfaction Index

17. CASE STUDY Richfield enhances services and implements a new rate strategy to raise occupancy rates at a once-underperforming hotel. The Joule Dallas, a Luxury Collection

18. EXISTING DESIGN

19. MODERN CUBAN This style tends to be more casual and playful than the other two concepts.  Modern, strong lines create the mood with hints of a nostalgic background peeking through with ornate, vintage accents.  The majority of the palette remains natural and light with lots of artistic pops of color creating a fun, young attitude.

20. REFINED COASTAL The Refined Coastal concept lightly plays off the geographical aspects of the local sand and shore.  Leaning towards a colonial feel without becoming too themed, it is a comfortable atmosphere elevated with quality finishes and quiet delicacy. It tends to be expected and craved by out of state guest looking for a true seaside experience.

21. TRADITIONAL LUXURY A concept that truly accentuates the existing millwork and stone work in the grand lobby would be Traditional Luxury.  More formal and glamorous, adding a touch of sparkle and regency to the already traditional setting; the concept raises the experience to a higher standard.

22. DESIGN SCHEDULE

23. THANK YOU • Next Steps: • Brand Affiliation • Operations Shadow Management & Transition Plan • Operations Task Force and Associate Onboarding • Sales, Marketing and Revenue Management Stabilization • Ongoing Owner Communications