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Intrawest's Sandestin Golf and Beach Resort on Schedule
with Multi-phase, $400 million Master Redevelopment
Plan; 500 New Rooms in Pipeline

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Destin, Fla.  (October 4, 2004) – Sandestin Golf and Beach Resort ended its summer high season with record-breaking bookings. The resort closed the books on the 2003-2004 fiscal year, ending June 30, 2004, with a 14 percent increase in revenue over the previous year.  The resort’s newly designed website and e-commerce business contributed significantly to this growth with a 22 percent increase in room night bookings.

The 2004-2005 fiscal year is off to a good start, despite Hurricane Ivan. Within 24 hours after Hurricane Ivan made landfall, the resort was operational and in less than one week after the storm, Sandestin rebounded to resort occupancy levels that are typical for this season.

The year ahead brings continued resort enhancements from new accommodations totaling 509 rooms, new retail shops that now fill The Market Shops at Sandestin to capacity and a new restaurant and dining services.

“We are extremely pleased with the summer’s and fiscal year-end figures and excited about our new developments this year,” said Mike Stange, vice president and general manager of Sandestin Golf and Beach Resort.  “We broke an Intrawest company-wide record for e-commerce business and are on schedule with our -year, multi-phase, $400 million master redevelopment plan that we began in 1998.”
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New Accommodations For Families and Groups

The 97-unit Lasata and 112-unit Bahia are the latest vacation homes to be built in Sandestin. Situated in The Village of Baytowne Wharf -- only steps from the gardens, pools and conference facilities of The Grand Sandestin hotel, condominiums and Baytowne Conference Center -- the buildings were designed with the family vacationer and business traveler in mind.

Lasata, which opened in July 2004, features a Southern Plantation-inspired design throughout its 97, one-, two-, and three-bedroom suites. For the vacationer looking for luxury accommodations, Lasata also has a two-story, four-bedroom penthouse with sweeping views of the bay, a two-story living area and expansive bay front decks.

Projected to open in Spring 2005, Bahia, meaning “bay” in Spanish, is named for its sprawling bay-front location. Featuring a contemporary, South Beach-inspired design, Bahia is described as “Sandestin’s answer to the boutique hotel.” It offers 112 one-, two- and three-bedroom suites. Bahia also boasts three bay-front penthouses with stunning views of the Choctawhatchee Bay and expansive bay-front balconies.

Two Marriott-branded hotels are also in the pipeline to be added to one of Sandestin’s off-resort locations. A Residence Inn by Marriott and Courtyard by Marriott, offering more than 300 rooms to the resort’s room inventory, are scheduled to open in 2005.

Lilly Pulitzer Opening Brings Market Shops To Capacity

For the first time, The Market Shops at Sandestin, located on the beachside entrance to the resort, is filled to capacity, offering customers more than 45 shopping options throughout the resort.  The newest addition is Barefoot Princess, a Lilly Pulitzer Signature Store featuring apparel, shoes and accessories suitable for princesses of all ages. 

Tea Etiquette, New Cajun Spices & Deli Room Service Come to Sandestin

The Village of Baytowne Wharf at Sandestin continues to add new attractions and services.  Magnolia & Ivy Tea Room, a Southern tea room that comes alive when guests don provided costumes, is making guests more civilized with tea etiquette classes.

Sandestin’s newest restaurant, Finz, was transformed from the Elephant Walk Restaurant and Governor’s Attic Lounge into a new dual-themed, split level beachfront restaurant. Overlooking the Gulf of Mexico, Finz offers families lively dining experiences with live band performances during the day and a variety of entertainers in the evening. Serving lunch and dinner, Finz features contemporary comfort food infused with Cajun and Low Country influences specializing in seafood straight from the Gulf.

The Village Deli Café, which re-opened in May 2004, is now offering room delivery service. Now guests who are on-the-go, trying to eat healthier or just want to relax in their suites can order from the Deli’s selection of freshly pressed panini, salads and homemade bakery treats. 

Sandestin Golf and Beach Resort is a 2,400-acre resort located in Northwest Florida, between Pensacola and Panama City, eight miles east of Destin.  Sandestin is an award-winning resort nestled on 7.5 miles of beach and bayfront property featuring 1,350 accommodations and 65,000 square feet of meeting space. Amenities include The Village of Baytowne Wharf, four championship golf courses, 15 world-class tennis courts, a 98-slip marina, 20 restaurants and eateries, 48 retail offerings, fitness center, salon and day spa, an 18-hole putting course, children’s programs and more. Resort guests enjoy a wide variety of complimentary amenities, including free children’s activities, property-wide tram service, daily use of the Sandestin fitness center (adults only), complimentary use of bicycles, canoes, kayaks, boogie boards and tennis court time, plus free cane poles for children to fish our many stocked ponds. To further enhance the guest experience, Sandestin introduces the Surf Club, the new exclusive VIP section of www.sandestin.com.

Intrawest Corporation (IDR: NYSE; ITW: TSX) is the leading developer and operator of village-centered resorts across North America. The company owns nine mountain resorts, including Whistler Blackcomb, North America’s most popular mountain resort. Intrawest also owns Sandestin Golf and Beach Resort in Florida and has a premier vacation ownership business, Club Intrawest. The company has a 45 percent interest in Alpine helicopters Ltd., owner of Canadian Mountain Holidays, the largest heli-skiing operation in the world. Intrawest is headquartered in Vancouver, British Columbia and is located on the World Wide Web at www.intrawest.com.


 
Contact:
Zandra Wolfgram
Sandestin Golf and Beach Resort
850/267-8261
z.wolfgram@sandestin.com
www.sandestin.com
Also See: CNL Income Properties, Inc. to Purchase for $160 million an 80% Interest in Nine Resort Villages Owned by Intrawest Corporation / August 2004
Sandestin Resorts, Inc. Acquired for $130 Million by Intrawest / July 1998


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