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DORAL HOTELS & RESORTS AND DIVI HOTELS PURCHASE DIVI DIVI BEACH RESORT AND DIVI TAMARIJN BEACH RESORT IN ARUBA

 DORAL HOTELS & RESORTS AND DIVI HOTELS PURCHASE
 DIVI DIVI BEACH RESORT AND DIVI TAMARIJN BEACH RESORT IN ARUBA
 NEW YORK, Feb. 12 /PRNewswire/ -- The joint venture between Doral Hotels & Resorts Management Corporation and Divi Hotels, Inc. has closed the acquisition of the two Divi properties in Aruba, the Divi Divi Beach Resort and the Divi Tamarijn Beach Resort, it was announced today by Sam Haigh, president of Doral, and Marsden Cason, president of Divi.
 Doral has assumed control of the management and operation of these properties which are now jointly owned by Doral and Divi. The permanent long-term financing has been provided by The Bank of Nova Scotia. "We are extremely pleased with our relationship with the Bank of Nova Scotia and their continued strong commitment to the Caribbean," said Haigh.
 "Over the years, the resorts have performed exceptionally well, due to the strong appeal to the vacation market of the Divi concept of 'barefoot elegance,' and the widespread popularity of the island of Aruba," continued Haigh. "Doral does not plan to alter the concept or make major changes in the operation, but rather will build on Divi's strong tradition of hospitality, service and price/value," he concluded.
 Using Divi's accomplishments as a base, Doral will contribute experience in resort management, financial stability, and resources to provide the optimal guest experience.
 "We look forward to our relationship with Doral and the opportunity to further enhance the hospitality product of the Divi Aruba properties," stated Cason.
 The two Aruba resorts will be operated by Doral under the Divi name. Reservations can be made through travel agents, wholesalers and charter tour operators, or by calling the Divi Reservations toll-free number, 800-367-3484.
 Doral Hotels & Resorts Management Corporation is headquartered in New York City. In addition to these two Divi Resorts in Aruba, Doral currently manages 11 domestic properties in New York, Florida and Colorado. The company's expanding portfolio includes hotels, spas, resorts, and conference centers, with a destination resort in Telluride, Colo., scheduled to open in May 1992.
 -0- 2/12/92
 /CONTACT: Candice A. Kimmel of Adams Unlimited, 212-688-1166, for Divi Aruba/ CO: Doral Hotels & Resorts Management Corp.; Divi Hotels Inc. ST: New York IN: LEI SU: TNM


CK-AH -- NY055 -- 9242 02/12/92 12:34 EST
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Publication:PR Newswire
Date:Feb 12, 1992
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