MINNEAPOLIS, Minn.  (March 19, 2003) � Regent International Hotels today announced plans to manage a new luxury condominium hotel to be built along Ocean Drive in the heart of Miami�s world-famous South Beach.  The focal point of the $67 million dollar development will be the 80-unit, six-story luxury hotel�The Regent South Beach�offering breath-taking views of the Atlantic Ocean and South Beach.  The development will also include upscale retail and restaurant space and will have entrances on both Ocean Drive and Collins Avenue. 

�This wonderful luxury development, as well as the prestigious South Beach neighborhood, fits our selective growth plan for Regent,� said Jay Witzel, president of Carlson Hotels Worldwide, parent organization of Regent International Hotels.  �We are excited to partner with a proven South Beach development company to bring our luxury hotel company to Miami and to the people who travel here for business or leisure.�

The hotel is being developed by South Beach Resort Development, LLC.  Principals of the company developed the Mercury Resort South Beach, a 44-unit condominium hotel in the heart of South Beach; as well as Berkeley Resorts, an organization which developed, sold and managed seven resorts in Florida, South Carolina and Tennessee.  The organization included 25,000 owners and 190 employees. 

�The strength of The Regent name combined with the Ocean Drive address make this project the most attractive hotel development initiative underway in southern Florida,� said Gene Grabarnick, principal with South Beach Resort Development, LLC. 

Each oversized guest suite will average 490 sq. ft. with all having 200 sq. ft. balconies.  Thirty-six of the units will have oversized patios with private Roman spas.  Added amenities for top suites include  650-ft. private rooftop gardens with Roman spa, wet bar, and dining area.  The development will also include a gourmet restaurant, elite in-residence spa, private courtyard with swimming pool and Roman spa, and onsite parking garage.  As a condominium hotel, each unit of The Regent South Beach will be purchased by individual owners for $400,000 to $800,000 USD per unit.  Owners will place the units in a rental program in return for a percentage of revenues. 

World-renowned architectural firm, Arquitectonica, has been contracted to provide a contemporary twist to the Art Deco traditions of South Beach to create The Regent South Beach.  The firm, based in Miami and New York, with offices in cities around the world, is known for its creative ability to design projects with memorable imagery and regional identity.  The luxury hotel is steps from Lincoln Road Shops, Miami Beach Convention Center, Jackie Gleason Theater of the Performing Arts, Bass Museum & Cultural Center and the Miami Beach Marina.  American Airlines Arena, home to the Miami Heat; Miami International Airport; and Bal Harbour Shops are a short five-to-ten-minute drive. 

Construction on the new hotel will begin later this spring, with completion expected for 2005.

This is the second Regent-managed property under development in Florida.  The Regent Winter Park is a 150-room luxury hotel and spa under development north of Orlando which is expected to open in 2004.  The project will also include an adjoining 23-unit luxury condominium, The Regent Residences. 

Regent International Hotels has established a global leadership position in the luxury hotel and resort industry by offering premier locations, elegant facilities and personalized service to the world�s most discerning travelers.  Regent is part of Carlson Hospitality Worldwide, a Minneapolis-based global leader in hospitality services encompassing more than 1,570 hotel, resort, restaurant and cruise ship operations in 81 countries. 
At present, Regent hotels and resorts are located in the cities of Almaty in Kazakhstan, Bangkok, Berlin, Chiang Mai, Jakarta, Kuala Lumpur, Singapore, Taipei, Beverly Hills in Los Angeles, and New York.  New properties are under development around the globe, including The Regent Boston at Battery Wharf Hotel and Residences; The Regent Winter Park near Orlando, Fla.; The Regent Cote d� Azur in Rocquebrune, France; and The Regent Beijing at Junefield Plaza. 

Carlson Hospitality Worldwide is a global leader in hospitality services, encompassing more than 1,590 hotel, resort, restaurant and cruise ship operations in 81 countries.