Industry News

REGENT INTERNATIONAL HOTELS TO OPEN LUXURY CONDO HOTEL IN BAL HARBOUR, FLORIDA

(July 7, 2004) -- Regent International Hotels today announced plans to manage a new luxury condominium hotel to be built bordering the Atlantic Ocean and Baker's Haulover Inlet in the prestigious Village of Bal Harbour, Fla.

The focal point of the $225 million development will be the 17-story hotel component -- The Regent Bal Harbour -- which will dramatically intersect a 26-story residential condominium tower (The Regent Residences at Bal Harbour) and provide breathtaking panoramas of the ocean to the east, Intracoastal Waterway to the west, Miami to the south, and Sunny Isles Beach to the north.

The hotel, amenities and residential condominiums are being developed by WCI Communities, Inc., named "2004 America's Best Builder" by the National Association of Home Builders and Builder magazine. The hotel will be the centerpiece of the One Bal Harbour development, the ultra-luxury "One" Collection WCI is creating on Florida's East Coast, destined to be the developer's premier South Florida residential and hotel address.

"This magnificent oceanfront development in prestigious Bal Harbour will be yet another premier east coast location for Regent," said Trudy Rautio, president of Carlson Hotels Worldwide, the Americas, parent organization of Regent International Hotels.

"Partnering with a longstanding and successful luxury developer such as WCI will create an unrivaled hotel experience that is fitting for the Bal Harbour community and will be sought after by those who travel here for business or leisure."

"Having toured the premier resorts and hotels in South Florida, the WCI team collectively agreed that the hotel component should exceed the expectations set forth by these hotels," said Paul Drummond, regional president of WCI's East Coast Towers division. "

As a result of WCI's commitment to excellence and to the Village of Bal Harbour, and with The Regent brand being synonymous with luxury and service in hotels and resorts worldwide, we are anticipating a world-class hotel experience for hotel guests that is highly personalized and caring."

The hotel will feature 124 hotel rooms with guests offered the option to reserve a spacious one bedroom, one-and-a-half bath suite or a lavish two-bedroom, two-and-a-half bath suite with a living room, kitchen, powder room, master bedroom and guest room, rivaling the finest hotel suites anywhere.

Each of the hotel resort residences will total approximately 1,650 square feet of air-conditioned space and private balconies. The South Florida architectural firm of Nichols, Brosch, Sandoval & Associates is designing the "moderne" hotel structure that will have a curved shape and glass exteriors.

One of the many trend-setting features of the hotel condominium residences is that every room will have its own private elevator lobby, as opposed to a corridor with many rooms accessible from it. Along with superior accommodations, The Regent Bal Harbour will feature a gourmet signature restaurant; elite in-residence spa, swimming pool and cabanas; 24-hour concierge, butler, room and valet services; twice daily maid service and more.

"Our community is honored to welcome The Regent luxury hotel brand to Bal Harbour Village and One Bal Harbour," said Daniel S. Tantleff, Mayor of Bal Harbour. "Bal Harbour Village has earned its place as a leading luxury/fashion destination, with an unparalleled staying-power of attracting tourists from all over the world, and we are thrilled to welcome Regent to our family."

One Bal Harbour will stand as the new northern gateway to Bal Harbour Village, Florida's most stylish beach community. Located at the northern tip of Miami Beach on the Atlantic Ocean, Bal Harbour Village is equidistant from Miami and Fort Lauderdale airports and just minutes from South Florida's renowned nightlife and cultural attractions.

A "must see" for celebrities and jetsetters alike (plus vacationers in-the-know), this tropical oasis features full-service oceanfront resorts, the legendary Bal Harbour Shops, pristine beaches, and a dining/people-watching scene that rivals Beverly Hills, Monaco and St. Tropez.

"Our decision to bring Regent to Bal Harbour, plus our other Regent projects under development in Winter Park and Miami's South Beach speak volumes about the strength of the Florida real estate market, as well as the importance of this area for business and leisure travelers who are looking for a world-class hotel experience," said Sam Winterbottom, executive vice president of development for Carlson Hotels Worldwide.

Construction began in May 2004, with hotel opening expected in late 2006. Based in Bonita Springs, Florida, WCI has been creating amenity-rich, leisure- oriented master-planned communities for more than 50 years. The company has become an industry leader in the development of tower residences over the past 14 years, having completed 34 luxury towers on Florida's east and west coasts.

An additional 10 towers are currently under construction, and 10 in design, not to mention several yet unannounced projects throughout the state that are in schematic design as possible acquisitions.

Regent International Hotels has established a global leadership position in the luxury hotel and resort industry by offering premier locations, elegant facilities and personalized service to the world's most discerning travelers. Regent hotels and resorts are currently located throughout Asia, Europe and the United States.

In addition to The Regent Bal Harbour, new properties are under development in Beijing and Ningbo, China; Boston at Battery Wharf; Winter Park, Fla. (near Orlando), and on Miami's famous South Beach. The Regent Esplanade Zagreb in Croatia joined the brand in May 2004.

Carlson Hospitality Worldwide is a global leader in hospitality services, encompassing more than 1,695 hotel, resort, restaurant and cruise ship operations in 82 countries. Carlson Hospitality Worldwide is one of the major operating groups of Carlson Companies, Inc., a global leader in providing corporate solutions and consumer services in the marketing, travel and hospitality industries.

Other names in the Carlson family of brands and services are: T.G.I. Friday's® restaurants, Radisson Seven Seas Cruises®, Carlson Wagonlit Travel®, and Carlson Marketing Group®, the largest relationship marketing services company in the United States. In 2001, Carlson brands Carlson brands generated USD $20.9 billion in gross sales system-wide and currently employ about 190,000 people in more than 140 countries.

For more information on condo hotels, please call Condo Hotel Center at (305) 944-3090 or send an e-mail to info@condohotelcenter.com.