Kor Hotel Group Finalizes Acquisition of Ikal del Mar Resort on Mexico's Riviera Maya

"The Ikal del Mar resort significantly enhances Kor Hotel Group's presence on Mexico's increasingly-popular Riviera Maya," said Brad Korzen, CEO of Kor Hotel Group. "The resort joins with our upcoming Tides Playa del Carmen and Viceroy Riviera Maya Resort and Residence to demonstrate the extent of our commitment to the region and represents a prime addition to our growing portfolio of international hotels and resorts."

Touted as "a sexy, eco-conscious hideaway in the jungle" by Travel + Leisure, Ikal del Mar is situated on approximately six acres of Caribbean waterfront property and stands as one of the few boutique-scale, five-star luxury resorts on the Yucatan Peninsula. Intimate and serene, the resort's design respects and accentuates the pristine qualities of its dramatic jungle and seaside setting. Thirty stand-alone palapas embraced by lush jungle allow guests a level of privacy not found at other resorts of the area. Suites are luxurious and spacious, at over 650 square feet each, and equipped with plunge pools and secluded private terraces. A comprehensive "jungle spa" features a beachfront yoga studio and Maya Temazcal steam treatment cave.

Indicative of Kor Hotel Group's continuing expansion on the Yucatan Peninsula, Ikal del Mar's purchase is part of the company's overall growth strategy nationally and internationally. Kor will debut two ground-up properties in the Riviera Maya region in 2008, Viceroy Riviera Maya in the Mayakoba resort complex and The Tides Playa del Carmen Resorts and Residences.

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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 Riviera Maya, 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.

About ProHotel International | ProHotel Management was conceived from ProHotel International, a full-service marketing group, which for the past 18 years has specialized in branding and marketing small, luxury properties worldwide. ProHotel Management devote their efforts to creating properties that are unique in concept, while at the same time blend into the environment seamlessly. ProHotel Management assures that each property maintains a standard of service and luxury that is beyond expectations. It is their priority that each property incorporates the local culture and that each guest leaves with the knowledge of its surroundings.