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Douglas Jaffe III Is Appointed New CEO of Jaffe Group, LTD.

HORSESHOE BAY, TX--(Marketwire - Nov 21, 2012) - Douglas Jaffe III, Horseshoe Bay Resort's CEO for the last eight years, has been named CEO of the Jaffe Group, Inc., a holding company that manages the family's aviation and real estate divisions and the new master-planned golf community, Summit Rock. Jaffe III has held the CEO title since the completion of the 349-room Marriott hotel property and transformed Horseshoe Bay Resort into one the premier full-service golf resort properties in the Southwest.

Horseshoe Bay Resort Marriott garnered numerous golf and customer service accolades during Jaffe's tenure including a top five ranking, out of 355 Marriott hotels and Resorts, for event satisfaction and service as awarded by an independent event planners survey in 2011.

"It's been an honor working for Horseshoe Bay Resort," Mr. Jaffe III said, "We accomplished many milestones over the last several years and I know the resort will continue to thrive under the direction of Mr. Mitchell and my father. I look forward to the increased responsibility in leading Jaffe Group to future prosperity."

As part of his new duties, Mr. Jaffe III will provide key oversight for Horseshoe Bay Resort Realty, Horseshoe Bay's premier real estate and brokerage firm. The 11-year company recorded more than 70 million dollars in sales volume in 2011 and is on pace to improve that mark by the end of fiscal 2012. Mr. Jaffe III will also oversee Summit Rock, the new 1,600-acre Jack Nicklaus Signature Golf Development located three miles west of the Marriott Resort. The multi-million dollar project opened to rave reviews in 2012 and new development of numerous community amenities and residential subdivisions continues as scheduled.

Ron Mitchell, who serves as Vice Chairman of Horseshoe Bay Resort Ltd., a position he has filled for the last eight years, will now serve dual roles as President and Vice Chairman, leading the day-to-day management of the resort. Doug Jaffe Jr. will serve as Chairman. He will continue the same role with the Jaffe Group, Inc., a position he has held for the last 30 years.

"Douglas Jaffe III has been instrumental in leading this Resort and we are proud of his new appointment," Mr. Mitchell said. "We will strive to move the Resort forward and improve on the foundation he built here."

Mike Abbott, a leading golf and hospitality industry veteran, will remain as the General Manager of Resort Operations, managing both the golf and club operations, including Summit Rock, for Horseshoe Bay Resort. Mark Jeffrey, a new appointment to the Horseshoe Bay Resort executive team, will take on the role of Interim General Manager of the hotel. Mr. Jeffrey is a Marriott veteran who served most recently in the same capacity as the General Manager for the Doral Golf Resort and Spa in Miami, Florida.

"We're excited to welcome Mr. Jeffrey to the Horseshoe Bay Resort team," Mr. Jaffe stated. "He has a proven pedigree with a substantial Marriott background and his expertise in hotel stewardship and the golf industry will be a welcome asset to our organization."

About Horseshoe Bay Resort:
Horseshoe Bay Resort is Texas' original lakeside resort. Located in the picturesque Texas Hill Country, a short 45-minute trip from Austin, 90-minute trip from San Antonio and a few hours drive from Dallas and Houston, the 7,000-acre, AAA Four Diamond-rated resort sits along the shores of constant-level lake LBJ. The 349-room resort is home to three championship Robert Trent Jones, Sr. golf courses, par 72 dwarf Bermuda grass putting course, The Waters 50-room condominium towers and a full-service marina. Horseshoe Bay recently opened Summit Rock, a Jack Nicklaus Signature Golf Course Community, while a private airport, 16 tennis courts, bike rentals, hiking trails, spa and fitness centers all add to the extraordinary experience of Horseshoe Bay Resort. For more information and reservations, visit www.hsbresort.com or call 877-611-0112. For more information on Summit Rock visit summitrockhsb.com.