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Kor Hotel Group Reaches Definitive Agreement to Acquire Mosquito Blue
and Mosquito Beach Resorts in Playa del Carmen
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LOS ANGELES, April 18, 2006 - Southern California-based Kor Hotel Group, the luxury boutique-hotel operator, extends its collection of distinctive properties to the booming resort town of Playa del Carmen with the proposed purchase of two upscale resorts. Known for its deft combination of high-design features, sumptuous amenities and unparalleled service standards, Kor Hotel Group is to purchase and assume management of the popular Mosquito Blue resort and the newly built Mosquito Beach resort. 

"Mosquito Blue and Mosquito Beach resorts will allow Kor to further assert its presence in the culturally vibrant and beautiful town of Playa del Carmen," said Brad Korzen, CEO of Kor Hotel Group. "We look forward to bringing these stylish properties into our growing portfolio of international hotels and resorts and residences." 

Kor plans to spend $5 million on a renovation, adding Kor signature touches to both Mosquito Blue and Mosquito Beach. Kor is also set to purchase the bustling 32,000 square-foot Calle Corazon retail center adjacent to Mosquito Blue and redevelop to add new Mosquito Blue guest rooms and a full service spa. 
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Mosquito Blue Hotel & Spa
Brimming with character and charm, this 45 room hotel is located close to shops and restaurants on Avenida 5, Playa del Carmen's lively main street; a white-sand beach is two blocks away.
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Centrally located in the heart of Playa del Carmen on the Riviera Maya, both Mosquito Blue and Mosquito Beach are close to 5th Avenue shopping and the calming sapphire waters of the Caribbean. Mosquito Blue's 46 elegantly-appointed, private rooms capture the serenity and coastal allure of Playa del Carmen, offering luxurious terraces adjacent to an attractive garden courtyard. One of the newest beachfront properties in Playa -- built in February 2006 -- Mosquito Beach's 33 spacious rooms provide premium access to sand and surf along Playa del Carmen's captivating beach frontage. 

Serving as a catalyst to Kor's presence in Playa del Carmen, Mosquito Blue and Mosquito Beach represent Kor Hotel Group's extension into the Mayan peninsula. In addition, Kor will debut two ground-up properties, Viceroy Riviera Maya and The Tides Playa del Carmen Resorts and Residences, in 2008. 

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, Tides in South Beach, Chamberlain in West Hollywood, The Jefferson in Washington D.C. and Campton Place in San Francisco. 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, two on Mexico's Mayan Riviera, 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.

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Contact:

Jennifer Dowd Giuliano
Kor Hotel Group
5750 Wilshire Boulevard - Suite 500
USA - Los Angeles, CA 90036
Phone: 323 939 8800
 jennifer.dowd@korhotelgroup.com
http://www.korhotelgroup.com
 

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Also See: Kor Hotel Group Acquiring the Ikal del Mar Resort on Mexico's Mayan Riviera / March 2006


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