Pendry Hotels

Orange County, Calif. – In collaboration with Sagamore Development Company, the development enterprise of Under Armour Founder and Chief Executive Officer, Kevin Plank, Pendry Hotels announced today its first East Coast hotel, Sagamore Pendry Baltimore. Located in the vibrant waterfront neighborhood of Fells Point in Baltimore, Maryland, the 128-room hotel, located on the iconic Recreation Pier, is slated to open in early 2017. War Horse, LLC, owned by Plank's brother and former Under Armour executive Scott Plank, is also a partner in the project.

Situated in the heart of Baltimore's thriving Fells Point, Sagamore Pendry Baltimore sits at a dynamic crossroads where history and a thriving culture converge. An array of bustling shopping, dining and nightlife are steps away from the hotel, just a short walk along the city's charming cobblestone streets.

Fells Point and Recreation Pier both hold a rich place in Baltimore's history. Fells Point once served as the second largest point of entry into the United States, only surpassed by Ellis Island. Recreation Pier, originally built in 1914, was previously a dance hall and social gathering hub for early 20th

century Baltimore immigrants. Sagamore Pendry Baltimore will soon become a new destination for the community and guests to gather, fusing sophistication from the bygone era with Pendry's impeccable service and modern luxury.

"We are looking forward to bringing Pendry Hotels to the wonderful city of Baltimore," said Alan Fuerstman, Founder and Chief Executive Officer of Montage Hotels & Resorts. "We have thoroughly enjoyed working with Kevin Plank and the entire Sagamore Development team on this project and we look forward to Sagamore Pendry Baltimore becoming a pillar of the community." Sagamore Pendry Baltimore will feature multiple dining options including a three-meal restaurant, whiskey bar, and an outdoor pool at the pier's end with cabanas and a bar and grill. The restored grand ballroom will be a highlight for weddings and private events. The hotel will feature over 10,000 square-feet of indoor and outdoor meeting and event space. Additionally, the hotel will be home to a sophisticated art collection including a signature Botero horse sculpture, which will be the centerpiece of the courtyard.

"It was important for us to partner with a management group with the talent and experience to make this hotel truly special," said Kevin Plank. "Alan Fuerstman and his Pendry Hotels team fit the bill perfectly, and the Sagamore Pendry hotel will be hugely additive to Fells Point, while fitting in comfortably with the culture of that diverse and historic neighborhood. We consider this to be one of our signature investments in the city of Baltimore."

Sagamore Pendry Baltimore, designed by BHC Architects with interiors by Patrick Sutton Design, will pay homage to the property's rich heritage. Created with the well-seasoned traveler in mind, guestrooms and spaces throughout the hotel are infused with hints of Baltimore history and serve as a luxe yet eclectic home away from home amongst the spirited hustle of the city.

For more information, please visit www.pendryhotels.com.

About Sagamore Development Company

Sagamore Development is a commercial real estate company based in Baltimore, MD, and a member of the Plank Industries family of brands, which includes Sagamore Racing, Sagamore Spirit and Sagamore Ventures. Sagamore is the master developer for Port Covington, a planned mixed-use redevelopment and park system in South Baltimore. For more information, visit www.plankindustries.com.

About Montage International

Montage International, the ultra-luxury hospitality management company founded by Alan J. Fuerstman, features a distinctive collection of hospitality brands. Montage International encompasses the ultra-luxury brand Montage Hotels & Resorts, the new luxury hospitality brand Pendry Hotels & Resorts, Montage Residences, Pendry Residences and the management of some of the country's premiere golf courses and clubs. Founded in 2002, Montage Hotels & Resorts is an artistic collection of distinctive hotels, resorts and residences including: Montage Laguna Beach, Montage Deer Valley, Montage Kapalua Bay, Montage Palmetto Bluff, and Montage Los Cabos. Currently under development is Montage Healdsburg, opening in 2020, and Montage La Quinta and Montage Big Sky, both opening in 2021. Pendry Hotels & Resorts, founded in 2014, is a collection of new luxury hotels for today's cultured world traveler located in taste making destinations including Pendry San Diego and Sagamore Pendry Baltimore. Pendry West Hollywood will open in 2020, and currently under development opening in 2021 is Pendry Natirar, Pendry La Quinta, Pendry Manhattan West, and Pendry Park City. Pendry Washington D.C. - The Wharf will open in 2022. Montage International also manages and operates Spanish Peaks Mountain Club in Big Sky, Montana and The May River Golf Club in Bluffton, South Carolina. For more information, please visit www.montage.com.