TELLURIDE, July 13 – Capella Telluride, currently under construction in the spectacular Town of Mountain Village, above historic Telluride, Colorado and marking Capella Hotels and Resorts’ highly anticipated entry into the U.S. hospitality market, is already setting standards for excellence. Just one year after breaking ground in June 2006, construction at the ultra-posh development is right on schedule. According to developer Robert Levine, president and CEO of R.A.L. Companies & Affiliates, the firm has reached a critical milestone, nearing completion of its subsurface construction.

“Our commitment to hands-on involvement and strict oversight of the project during this complex first phase of development has set the tone for a timely and quality completion of this signature project,” said Levine. “We keep tabs on every detail of the project with weekly onsite visits and Internet-enabled cameras that allow us to monitor the construction site from our office computers in Manhattan, at all hours.”

Capella Telluride, with occupancy slated for the 2008 holiday season, is approximately five times larger than any other project currently being developed in Telluride and is situated in a remote area of the Rockies. Its success to date, despite the project’s scope and remoteness, is a result of the highest level of attention to detail for which R.A.L. and Capella are both known.

“In a single day, we exhausted the area’s concrete supply. Sixteen concrete trucks from local and regional plants provided uninterrupted deliveries to supply 525 cubic yards of concrete for a single substantial pour, probably the largest in Telluride’s history,” said Alan Reich, executive vice president of project development at R.A.L. “As the town’s largest project currently under construction, continually working to coordinate large-scale supplies, fine attention to detail is a must.”

When complete, the 148-unit Capella Telluride will resemble a European-style ski-in/ski-out destination, where residents and guests can enjoy Capella’s acclaimed level of personal service, the Living Room (the only private resort lounge in Telluride), Suede Bar, Onyx Restaurant, world-class spa, pool, fitness center, ice skating rink, entertainment and high-end retail boutiques.

“Capella is actually the name of the sixth brightest star in the sky, part of the northern constellation Auriga,” added Levine. “With Capella Hotels and Resorts’ exceptional level of service, Capella Telluride may warrant a new ‘six star’ rating system in the U.S. as it will set an entirely new standard for luxury.”

Denver-based Ivins Design Group and Creative Design Associates (CDA), a New York-based architecture firm specializing in luxury residences, are designing the development. The exclusive listing agent for condominium units at Capella Telluride is Telluride Properties, which can be reached at (970) 728-8768.

Capella Hotels and Resorts serves today’s top-tier travellers and residential property owners and is setting a new standard in the hospitality industry.  Capella promises the unique benefits of the finest boutique hotels, including superb architecture and interior design, privacy, individualized service and attention to detail – combined with the amenities and activities of the world’s great luxury hotels and resorts.  Capella, led by founder Horst Schulze, is a brand focused on customer choice, and offers choices that no other hotel company in the world can match.  Capella is opening world-class properties in cities and resort destinations around the world, including: Capella Singapore; Breidenbacher Hof, a Capella Hotel (Düsseldorf, Germany); Capella Pedregal (Cabo San Lucas, Mexico); Capella Resort & Spa, Castlemartyr (Ireland); Capella Resort & Spa, Dunboy Castle (Ireland); and Schloss Velden, a Capella Hotel (Austria).  Learn more at www.capellahotels.com

RAL Companies and Affiliates LLC is a Manhattan-based developer of luxury apartment, condominium and resort communities in New York, Colorado, Texas and Maryland. The second-generation, family-controlled firm exercises the utmost in quality control by offering complete real estate services from concept to completion in architecture, interior design, construction, landscape architecture, leasing and management. Recently, its leasing and management affiliate, Spandrel Property Services, commenced third-party management services for other property owners.