LOS ANGELES, Sept. 18, 2017 — On September 7, 2017, entities affiliated with Kabir Mulchandani, a resident of the United Arab Emirates, filed a baseless lawsuit against Viceroy Hotel Group in Los Angeles. The lawsuit cites a consultant report dated in August to justify the wrongful ouster of Viceroy as the manager of the Viceroy Palm Jumeirah Hotel two months earlier. Viceroy explicitly denies the allegations in the lawsuit and the consultant report, and is confident the legal process will demonstrate the falsity of both.

Viceroy and its management honored the terms of the hotel management contract with Mr. Mulchandani and his group at all times, including the time leading up to their expulsion from the property on 19 June 2017. Three days later the Dubai International Financial Center (DIFC) Courts reinstated Viceroy as manager of the Viceroy Palm Jumeirah in Dubai without further notice and Mr. Mulchandani and his group remain subject to that comprehensive injunction.

Viceroy will continue to seek enforcement of the DIFC injunction and will vigorously defend itself against these false allegations. Viceroy will also aggressively pursue all remedies available to it.