Industry Update
Press Release28 June 2000

Allegro Resorts' Executive Vice-President Of Business Development Resigns; Becomes Co-Founder Of Karisma Hotels And Resorts

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Santo Domingo, Dominican Republic - Rafael F. Feliz has resigned as executive vice president of business development for Allegro Resorts Corporation and entered into a partnership with former Allegro executive Lubo Krstajic in a newly formed hospitality venture.


Feliz left his current position to become co-founder and co-owner of Karisma Hotels and Resorts, a recently created hotel management and marketing company based in Santo Domingo, Dominican Republic. Karisma will provide management and marketing services to third party hotel and resort properties located throughout the Caribbean in destinations appealing to North American and European travelers. According to Feliz, Karisma also will seek select investments in strategic properties throughout the Caribbean and Mexico.

"Joining Lubo to form Karisma is a tremendous opportunity I couldn't pass up. While I'm sad to leave all my friends at Allegro, Karisma will allow me to pursue my entrepreneurial dreams," Feliz said. "I'm extremely confident that together, Lubo and I have the industry knowledge and relationships with some of the largest travel conglomerates around the world to create and grow a very successful company."

Feliz' career in the hospitality industry spans nearly a decade. He joined Allegro in 1993 as manager of the Sol Group - an Allegro Resorts company, and quickly climbed the corporate ladder.

Within a year he was promoted to Director of Allegro's Timeshare Division, which was reporting annual sales of approximately $800,000 and operating from a sales office at a company resort in Puerto Plata, Dominican Republic.

Feliz rapidly grew the division; renaming it Allegro Vacation Club and expanding offices throughout the Dominican Republic and Mexico. By 1995, Allegro Vacation Club boasted annual sales of over $13 million.

In 1995, after significantly increasing Allegro's timeshare business, Feliz was appointed vice-president of development and shortly thereafter, promoted again to executive vice president of business development, to coordinate all aspects of the company's global business expansion. In this position, Feliz was responsible for identifying new geographical areas with business opportunities for tourism and hotel development and negotiating acquisitions, lease agreements and new construction which included coordinating an aggressive expansion plan totaling over $170 million in projects that resulted in new Allegro Resort properties in Aruba, Antigua, Turks & Caicos and the luxury all-inclusive resort Royal Hideaway in Playacar, Mexico.

In 1998, due to his success, Travel Agent magazine named Feliz one of the 100 Rising Stars that will influence the travel and leisure industry of tomorrow.

Lisa Ross/LFRoss PR
Phone: (305) 899-0012
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