CHEVY CHASE, Md., Nov. 21 /PRNewswire/ -- The Ritz-Carlton Hotel Company, L.L.C. and Cypress Equities of Dallas, Texas have reached an agreement to operate and develop luxury, whole-ownership residences at Mammoth Mountain on a 6.9 acre site in one of California's premiere ski and outdoor recreation areas on the eastern slopes of the Sierra Mountains. The Ritz-Carlton Residences at Mammoth are scheduled to open for the 2010 ski season and will be located adjacent to The Village gondola with quick access to shopping and dining. Its owners will enjoy an unparalleled setting in the heart of Mammoth with spectacular mountain views and superior services and amenities.

In addition to selecting from a range of signature Ritz-Carlton provided services and amenities, including housekeeping, catering, room service, and concierge services, The Ritz-Carlton Residences at Mammoth owners will enjoy a lavish spa and fitness center, swimming pool, several cozy fire pits, gourmet and express restaurants, ski valet services, and more. "We believe these luxury residences will offer the finest lifestyle choice available in the Western United States. Whether a winter ski retreat or a summer getaway, Mammoth Mountain is the perfect location," said Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company. "Partnering with Roger Staubach and Cypress Equities, we look forward to creating the most exclusive residential community in the region," Cooper added.

Mammoth, once a small mining town with over fifty years of operation, has always been a well known year-round retreat with exceptional skiing. However, it is only within the past decade that it has begun to undergo a transformation into a resort and vacation destination known for its Village charm with restaurants, shopping, and social life.

The Ritz-Carlton Residences at Mammoth will offer its privileged owners world-class finishes, services and amenities amounting to the finest living in Mammoth Lakes. Prices start at $2 million. For information, please call 888-310-8383 or visit www.theresidencesmammoth.com/.

About Cypress Hotels & Resorts and Cypress Equities

Cypress Hotels & Resorts is an affiliate of Cypress Equities focusing on development services for lodging investments. Cypress Equities is a development affiliate of The Staubach Company formed in 1995.

With seven development offices in Dallas, Atlanta, New York, Phoenix, San Francisco, Fort Lauderdale and Nassau, Bahamas, it is an independent company with a dedicated staff that focuses on portfolio acquisitions, build-to-suits, project development, sale-leasebacks and other development services for retail and automotive. Currently, Cypress Equities is developing over $3 billion in projects across the country.

The Ritz-Carlton Hotel Company, L.L.C. of Chevy Chase, Md operates 68 hotels in the Americas, Europe, Asia, the Middle East and Africa. Over 30 projects are under development around the globe with future openings including Sanya, China; Beijing; and Denver. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldridge National Quality Award, which recognized outstanding customer service.

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For more information on The Ritz Carlton - Mammoth Lakes, CALL Coldwell Banker Mammoth Real Estate at 1-800-266-6966 or EMAIL us at Info@MammothRealEstate.com.