WHY GULPH CREEK HOTELS?

1. Hotel Workouts and ReceivershipsBackground and QualificationsContact:Derek Sylvester, Principal(610) 687-9280DSylvester@gulphcreekhotels.com www.gulphcreekhotels.com

2. WHY GULPH CREEK HOTELS? We will focus our attention on you, your asset and your concerns. • We won’t just baby sit your hotel, we will secure and clean up the asset, drive revenues, streamline operations and maximize value. • Market leaders – your asset will be part of a highly competitive hotel portfolio. Three of our six hotels are #1 in their respective comp sets. • Hands on – we are a smaller owner-operated company with an owner serving as the single point of contact for you and the asset. • Well respected company – we are an approved Operator with all major brands – Marriott, Hyatt, IHG, Hilton, Starwood and Choice. Currently operate independent hotels. • Experienced – we are an experienced receiver with a strong takeover and distressed hotel management track record • Strategic partner – we bring strong valuation, market study and hotel consulting experience to support the best course of action for the asset. • 350 Employees, $36 million annual revenue www.gulphcreekhotels.com

3. MANAGED HOTELS www.gulphcreekhotels.com

4. ORGANIZATIONAL CHART www.gulphcreekhotels.com

5. ASSET MANAGEMENT/WORKOUT SERVICES Gulph Creek Hotels addresses these issues by conducting the following steps: • Receivership in Bankruptcy • Management Operations Review • Forbearance Agreement • Franchise Evaluation • In-Depth Financial Review • Market Position Analysis • Physical Review/Renovation Estimates • Financial Projections • Debt Restructuring • Marketing Plan Critique • Strategic Plan • On-Going Management Review • Foreclosure/Bankruptcy Strategy • Establish Sale Price • Disposition Strategy www.gulphcreekhotels.com

6. RECEIVERSHIP/MANAGEMENT SERVICES GCH is positioned to serve as the receiver and management company for a non-performing hotel. Our methodology is outlined below: • Determine the best plan to minimize the loss to the bank or special servicer. • Forbearance agreement, receivership in place • Takeover of management (after obtaining waiver of lender liability) or foreclosure and eventual sale of the asset. • Determine ability of the hotel or motor inn to service debt or generate cash flow in the short or long term. • Assess condition of books and records, implement internal controls and cash handling procedures. • Evaluate physical condition of the property relative to the competition and the amount of renovation needed to restore the hotel's competitive edge or maintain the current franchise affiliation. • Determine whether the existing franchise is adequate for the market and the hotel www.gulphcreekhotels.com

7. BIOS – SENIOR LEADERSHIP Amy Gancasz - Principal • Gulph Creek Hotels - 1998 to present. Direct operations of all hotels. • Prior - 16 years in hospitality management. Started with Gulph Creek Hotels as an AGM. Promoted to GM, regional manager and VP of Operations (2002). • Education - BS, Hospitality and Tourism Management - Grand Valley State University in Allendale, Michigan. Derek W. Sylvester – Principal • Gulph Creek Hotels - 2006 to present. Acquisition, development and takeover/repositioning of hotels. Asset management of SERS resorts. • Prior – Asset management Harbor View and Kelley House – Edgartown, Massachusetts, Hotel Hershey - Hershey, Pennsylvania, the Wyndham Bermuda Resort - Southampton, Bermuda and the Chesapeake Bay Beach Club. Responsible for the development of the Palace - Somerset, New Jersey, Castle Hill Inn & Resort - Newport, Rhode Island ($2m F&B). Consulting positions with Pannell Kerr Forster, Restaurant Advisory Services and Sylvester Consulting Group. Marriott Hotel Restaurant Manager ID training program and restaurant management positions with Marriott Hotels & Resorts. • Education - BS, Cornell University School of Hotel Administration www.gulphcreekhotels.com

8. BIOS – SENIOR LEADERSHIP L. Clarke Blynn – Founder and Advisor • Gulph Creek Hotels - 1996 to present. • Prior - Managed regional hotel consulting practice at Pannell Kerr Forster, an international hotel consulting company. Conducted market demand, operations, and valuation studies of hundreds of full- and limited-service hotels. Asset management, receivership deal structuring and contract negotiations are specialties. • Education - BS, Cornell University School of Hotel Administration Bill Deckard – Regional Manager • Gulph Creek Hotels - 2001 to present. • Prior – Winegardner & Hammons – Assistant general manager, McIntosh Inns – general manger. Marriott Hotels & Resorts – sales and housekeeping. Hilton Hotels – sales. • Education - Hotel, Restaurant, and Institutional Management - The Pennsylvania State University David Arena – Regional Manager • Gulph Creek Hotels - 2006 to present. Prior: • General Manager: Penn Oaks Golf Club-West Chester, PA. General Manager: Marriott Residence Inn- Exton, PA. General Manager/Director of Sales: Holiday Inn West Chester. Director of Sales: Wyndham Hotel-Wilmington, Delaware. Executive Director: Delaware Document Retrieval-Wilmington, DE. Owner/Manager: Arena’s Famous Restaurant-Rehoboth Beach DE. Owner/Operator: The Shipley Grill-Wilmington DE. www.gulphcreekhotels.com