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Horst H. Schulze

January 1, 1995

President and Chief Operating Officer The Ritz-Carlton Hotel Company, L.L.C. – Atlanta, Georgia

Horst Schulze joined the Ritz-Carlton Hotel Company in January, 1983, as Vice President for Operations. In July of 1987, he was appointed Executive Vice President for Operations and was promoted to President and Chief Operating Officer in 1988. As President, he has operations responsibility and planning involvement for all existing Ritz-Carlton Hotels as well as those currently under development. Before joining Ritz-Carlton Mr. Schulze spent nine years with Hyatt Hotels Corporation as Corporate Vice President in charge of Food and Beverage Operations. Prior to that, he was Regional Vice President with Hyatt and General Manager of Hyatt Hotels in Pittsburgh, Pennsylvania and Detroit, Michigan respectively. Mr. Schulze came to the United States from Europe where he began his career in the hotel industry. He has worked in world-class hotels in Switzerland, France, England and Germany. “Northwood gives companies young people with the proper foundation and we must recognize our responsibility to continue that education.”