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Cleveland, Ohio, October 16, 2006— Boykin Management Company, one of the industry’s leading independent hotel management companies, has named William S. Waichulis General Manager of the Pink Shell Beach Resort & Spa, located in Fort Myers, Florida. Mr. Waichulis most recently served as the Director of Operations/Interim General Manager at the South Seas Island Resort, located in Captiva Island, Florida.

Mr. Waichulis joins the Boykin Management Company team from Interstate Hotels and Resorts with over fifteen years of experience working at hotels and resorts in south Florida. Mr. Waichulis’s experience includes senior property management positions at the Holiday Inn Madeira Beach, The Hilton Clearwater Beach Resort and The Sheraton Key Largo Resort.

About the Resort:
The Pink Shell Beach Resort & Spa, a grand beach tradition for families and visitors to Florida’s Gulf of Mexico for more than 50 years, is located on Estero Island along the beaches of Fort Myers and Sanibel. The 12-acre resort is owned and managed by Boykin Management Company. Pink Shell Beach Resort & Spa, the only property in the area that offers both gulf-front and bay front views and access, caters to families and small groups seeking a fun, memorable four star resort experience. Pink Shell Beach Resort & Spa also features a broad range of recreational activities, spacious and luxuriously decorated accommodations, fine dining, a full-service Aquagçne spa, meeting facilities, a specialized children’s program called KiddsKampp®, and water sport activities.

The Pink Shell Beach Resort & Spa is near completion of a multi-million dollar transformation, with the final phase, the 43-unit Captiva Villas, due to be completed in early 2007. Boykin Management Company manages the entire resort operation, rental program and condominium associations. The resort consists of multiple condominium buildings offering spacious studio, one-bedroom, and two-bedroom suites all having ocean views.

The Pink Shell Beach Resort & Spa has over 5,000 square feet of meeting and event space and features full-service catering and conference services. Professional and social events can be held in eight different locations, ranging in size from the Executive Board Room to the Lido Grand Ballroom. To make a reservation or for more information please call 1-239-463-6181 or visit www.pinkshell.com. About the Company:
Founded in 1958, Boykin Management Company operates full service, Independent, Branded, Condo Hotels and Conference Centers from coast to coast. Boykin is nationally recognized for its expertise in providing superior hotel and resort management services to institutional, high net worth, private equity funds, developers and other hotel ownership groups. Boykin has a track record of innovative marketing and direct sales programs and is a proven turnaround performer. Boykin is a recognized leader in the management of condo hotel operations, rental programs, and condominium associations. For more information about Boykin Management Company, please visit our website at: www.boykin.com.

Boykin Management Company contact: Grant Sabroff, Senior Vice President of Business Development, (216) 430-1282.
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