The Tides Playa Del Carmen Resort & Residences Eclipses Local Sales Records with $50 Million Sold at First-Phase Event.

Kor Hotel Group's Exquisite Vision Sells 40% of Units at Pre-Construction Prices over Opening Weekend

PLAYA DEL CARMEN, Mexico -- Confirming its status as one of the Riviera Maya's most sought-after resort-residency properties, The Tides Playa del Carmen achieved record-breaking sales results over its opening weekend. Pre-construction sales totaled an all-time high of $50 million for this forthcoming project from Kor Hotel Group, which accounts for over 40% of the total 209 residential units. These figures establish The Tides as the most successful real estate project to date for downtown Playa del Carmen. With striking architecture by the award-winning firm Legorreta+Legorreta and interiors by tastemaker Kelly Wearstler Interior Design, this Yucatecan sister to Kor's original Tides in Miami's South Beach promises one-of-a-kind chic by the shore. Ground-up construction of the oceanfront property is scheduled to commence spring 2007 and is set for completion winter 2008.

"We are very pleased with the outstanding results of our first sales event," commented Brad Korzen, CEO of The Kor Group. "It reaffirms for us that a significant number of discriminating luxury homebuyers share Kor's vision for upscale, design-savvy properties in the Playa area, which are still uncommon on this beautiful stretch of coastland."

Luxury accommodations at The Tides Playa del Carmen present an unparalleled opportunity to own an oceanfront resort residence in the lively community often referred to as "the style capital of the Riviera Maya." A select release of fully furnished residences is still available for a limited time at pre-construction prices ranging from $450,000 to $2.5 million. They range from 750 to over 3,000 square feet in studio, one-bedroom, two-bedroom or three-bedroom configurations.

Located on the largest beachfront property within Playa del Carmen, The Tides will offer an eight-acre urban retreat. Each of the 209 deftly designed luxury resort residences within the exclusive enclave will come fully furnished with media centers, high-speed Internet access, pampering bath suites, sun decks and private, heated plunge pools. Most will offer unobstructed views of endless Caribbean blue, and select residences will include epicurean kitchens. The resort will also offer a 300-foot-long pool with a destination bar-lounge, three fine-dining restaurants and a world-class, 14,000-square-foot spa and fitness center. An interim private Beach Club is now open to future residents.

"With Kor's extensive experience in both the real estate and hotel arenas," said Tripp DuBois, General Manager of Sales and Marketing for The Tides Playa del Carmen, "this exquisite property is certain to bring a whole new standard to residential resorts opening on the Riviera Maya."

In tandem with the record-breaking sales launch of Kor's Viceroy Anguilla Resorts & Residences in 2005, The Tides Playa del Carmen figures reconfirm Kor as a leader in the new trend of upscale residential hotels. Underscoring the company's commitment to Mexico, several new destination resorts have joined its distinctive portfolio, including the ultra-exclusive Ikal del Mar boutique resort just north of Playa, the Viceroy Riviera Maya resort in the exclusive Mayakoba enclave (forthcoming in 2008), and impending development of 40 oceanfront acres in TulAm, just south of the fabled ruins.

Having outpaced Playa del Carmen real estate records, The Tides is poised for another record-breaking sales season. For more information on this unique opportunity, please contact the General Manager of Sales and Marketing, Tripp DuBois, at 888-752-9220 and [e-mail], or visit tidesplayadelcarmen.com.

About Kor Hotel Group

The Kor Group is a privately held real estate investment, development and management firm that is redefining the concept of home with its distinctive hotel and residential properties. 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. Properties include Viceroy Santa Monica and Viceroy Palm Springs, Avalon Hotel and Maison 140 in Beverly Hills, The Tides in South Beach, Chamberlain in West Hollywood, Campton Place in San Francisco and Ikal del Mar on Mexico's Riviera Maya. A new Resorts & Residences division unites Kor's hotel and residential expertise with ground-up broad-scale projects both nationally and internationally. Currently under development are two residential resort complexes in Miami, Viceroy Icon Brickell and Viceroy South Beach, and two on Mexico's Riviera Maya, Viceroy Riviera Maya and The Tides Playa del Carmen, as well as Kor's initial overseas venture, Viceroy Anguilla, in the British West Indies. A timely integration of Kor Hotel Group's residential and hotel development visions, these projects represent the next evolution of the Kor mission.