About The Kor Group

An innovative presence in the real estate and travel communities, The Kor Group is a privately held real estate investment, development and management firm that has redefined the concept of "being home" with its distinctive hotel and apartment properties. Kor seeks to reinterpret the traditional concept of hospitality by creating leading hotels that combine desirable locations, unique designs, destination dining, and personalized, up-to-the-moment customer service. With a $725 million asset portfolio and vigorous investment performance, Kor's success reflects its unique combination of experience, expertise and an entrepreneurial approach.

Kor also provides separate construction and property asset management services to company-owned properties and to third-party hotel owners, Our corporate office counts 45 professionals providing accounting and administrative support to our properties, with over 1,000 employees at property locations. Kor's hotel management team includes professionals with extensive experience in sales and marketing, operations, finance and accounting, information technology, and food and beverage management.

Kor's construction management division has undertaken construction and renovation work with over $150 million in refurbishment and development costs in the past two years, including ground-up construction, extensive renovations, minor refurbishments and earthquake remediation work.

Unique design, laser focus, speed of execution, structuring flexibility, and a full cadre of value-added property and construction management services contribute to Kor's success in identifying new opportunities, executing successful renovations and re-positionings, and delivering strong financial returns for our partners.

About Kor Hotel Group

As Kor's hospitality division, Kor Hotel Group holds a diverse portfolio, manages its wholly owned hotels, and provides third-party management to unaffiliated hotel owners.

The organization plans to grow its hospitality revenues via three primary strategies:

• Acquisition and redevelopment of independent hotels in urban core and destination locations
• Acquisition of flagged hotels with superior current yield characteristics, primary locations, and opportunity for purchase at a discount to replacement cost
• Acquisition of third-party management contracts from owners seeking management services

Kor Branded Properties

For its wholly owned properties, Kor reinterprets the traditional concept of hospitality. Beginning with its first Beverly Hills property, Avalon Hotel, Kor has built a collection of innovative, award-winning hotels that now includes Chamberlain West Hollywood, Maison 140 Beverly Hills, The Tides Riviera Maya, The Tides South Beach, The Tides Zihuatanejo, Viceroy Palm Springs, and Viceroy Santa Monica.

Kor is also the developer of two five-star Caribbean resorts that are home to luxury hotels, private villas and condominiums managed by Kor as vacation destinations for homeowners and resort guests. Currently under construction, Viceroy Anguilla is located in the British West Indies; a second resort in Mexico's Riviera Maya is not in development with pre-sales commencing at year's end.

Our hotels and resorts combine desirable location, unique design, destination dining, and personalized, up-to-the-moment customer service. Exciting, sensual, comfortable, distinct: by merging creativity and convenience with the most innovative style and advanced service, Kor Hotels deliver guest an unparalleled experience keyed to contemporary lifestyles.

Flagged Properties

Kor owns the newly re-positioned Sheraton Delfina Santa Monica (an upscale Sheraton property formerly opening as the Four Points Sheraton). This acquisition is financially and return driven, and Kor manages this property with an aggressive bottom-line orientation, while focusing on maximizing the contribution of the brand.

In addition, Kor seeks to add value through an analysis of the effectiveness of the existing brand, and when possible, will consider a "re-branding" of the flag through conversion to a higher quality brand capable of driving more top-line revenues.

Third-Party Management

Kor also actively pursues third-party hotel management for outside owners on a contract basis. Kor sets itself apart from other hotel management companies not only through its aggressive and professional management services, but it its willingness to invest equity capital as part of the transaction when the appropriate return characteristics are present.