Press Releases

KOR HOTEL GROUP LAUNCHES LODEN: GROUP'S FIRST FORAY INTO CANADIAN MARKET

--Partnership with Canada's Amacon brings new hotel complex to downtown Vancouver summer 2007--

March 13, 2007 (Los Angeles, CA) - Kor Hotel Group, the Los Angeles-based hotel operator recognized for its unique luxury properties in sought-after destinations, announces the launch of Loden in Vancouver, British Columbia. The hotel marks the company's first foray into Canada and its first joint hotel project with Amacon, Canada's leading real estate development firm known for its progressive projects and new home communities.

"We are excited to be opening our first Canadian property in a city with such a spectacular oceanfront setting and international character," said Brad Korzen, CEO of Kor Hotel Group. "Through our partnership with Canada's Amacon, Loden is certain to contribute a distinctive new luxury option to Vancouver's coastal appeal." Marcello De Cotiis, President of Amacon added, "Kor Hotel Group and their impressive portfolio of hotels have demonstrated consistency in quality and service. We are confident that they will position Loden to become the finest hotel in Vancouver and all of Canada."

The first new hotel to enter the Vancouver market in five years, Loden is designed as a striking integration of man and nature in modern balance. When the hotel debuts early fall 2007, Kor Hotel Group will enhance the project further with its high-caliber array of refined lifestyle amenities and civilized service luxuries.

Located in Coal Harbour, downtown Vancouver's most upscale residential neighborhood at the edge of the financial district, Loden is minutes from the waterfront, Stanley Park, world-class shopping and the Vancouver Convention and Exhibition Centre. Designed by the Vancouver-based architectural firm Hewitt & Kwasnicky, the 14-story hotel tower draws the natural wonders of coastal British Columbia into the city's cosmopolitan context with an exterior that mimics ocean waves in curved glass, natural stone and copper.

Loden Vancouver's sumptuous interior décor by San Francisco-based hospitality-design firm Babey Moulton Jue & Booth will affect a cultivated ambience through atypically bold patterns and deluxe finishes. The 77-room hotel will include seven suites, a 1,600-square-foot Penthouse Suite and a signature lobby-level restaurant and bar. A second-floor fitness center will offer 1,000 square feet of space complete with personal trainers available upon request.

Loden joins Kor Hotel Group's existing luxury hotel portfolio, which includes the ongoing development of its Viceroy and Tides branded properties in North America, Central America and the Caribbean, to significantly increase the company's dynamic international presence. As an integral part of Kor's overall growth strategy, Loden's visionary balance of world-class modern design with eco-conscious elements, its unparalleled amenities and sophisticated service represent a classic rendition of Kor's high standards and imaginative style.

Please visit www.lodenvancouver.com for further details.

Renderings of Loden are available upon request.

About Kor Hotel Group

The Kor Group is a privately held real estate development and management firm with investments primarily in hotels, resorts and multi-family real estate. Kor Hotel Group, the hospitality division of Kor, holds a diverse property portfolio and manages both its own assets and non-owned hotels under third-party management agreements. Kor Hotel Group’s properties include Viceroy Santa Monica and Viceroy Palm Springs, Avalon Hotel and Maison 140 in Beverly Hills, The Tides South Beach, Chamberlain in West Hollywood, Loden in Vancouver, The Tides Riviera Maya on the Yucatán Peninsula and Villa del Sol in Zihuatanejo on the Mexican Riviera. Resorts and Residences projects in Miami, Anguilla and Riviera Maya are forthcoming in 2008 and 2009.