Industry Update
Press Release30 March 2015

Cachet Hotel Group And Drai's Announce Formation Of Joint Venture Nightlife Company

- The new venture will target hotels and mixed-use developments with a focus on creating fully integrated nightlife and entertainment destinations.

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Cachet Hotels

Cachet Hotel Group (CHG) and Drai's Enterprises (Drai's) today announced the formation of a joint venture nightlife management company, to be named Drai's Asia. The new venture will focus on the development and management of Drai's nightclubs, supper clubs, bars, ultra lounges and beach clubs throughout Asia Pacific in destination cities and resorts.

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"We are pleased to partner with creative geniuses, Victor Drai and Michael Gruber, who have a proven track record in creating nightlife destinations," said Alexander Mirza, President and CEO of Cachet Hotel Group, "This new venture will serve Asia's growing demand for nightlife. We look forward to debuting Drai's within CHG hotels and in other properties."

Victor Drai is the epitome of self-starting entrepreneurial success; from his humble beginnings to his stature as being a Las Vegas nightlife impresario. From business owner to movie producer to restaurant owner and more, today Drai is regarded by many as the "father of the Las Vegas' nightlife scene." A nightlife mogul, Victor Drai is the creator and founder of Las Vegas' mega clubs Tryst and XS at Wynn, and the visionary owner behind Drai's Afterhours and Drai's Beach Club·Nightclub at The Cromwell in Las Vegas. Prior to solidifying his firm foothold in the Las Vegas nightlife scene, Drai forayed into the entertainment industry where he hit cinematic gold as the sole producer of hits such as The Woman in Red, The Man with One Red Shoe, Folks, The Bride and the blockbuster Weekend at Bernie's.

The partnership with Cachet comes one year after Drai's opened their flagship Las Vegas Drai's Beach Club·Nightclub venue with Caesars Entertainment, and on the heels of Drai's announcing their flagship ultra lounge set to open in the much anticipated Trump Hotel and Residences in Vancouver.

"Victor and I are very excited about expanding into Asia Pacific with Cachet, an innovative lifestyle hotel group that is growing across the region," said Michael Gruber, President of Drai's Enterprises and CEO of Drai's Asia, "Drai's Asia will bring our award-winning brands and operation expertise to developers throughout China, Thailand and across Southeast Asia."

The venture's first two projects will debut in Chengdu at the Cachet Hotel in 2016 and in Bangkok at the much-anticipated Cachet Deluxe Hotel in 2017. The Chengdu and Bangkok venues will be Drai's first locations outside North America.

About Drai's Enterprises - Drai's Beach Club - Nightclub/Drai's Afterhours/Indigo Lounge:

Drai's Enterprises owns and operates three exclusive Las Vegas nightlife venues in Las Vegas – Drai's Beach Club - Nightclub/Drai's Afterhours/Indigo Lounge. Drai's nightlife venues are strategically located across from Caesars Palace and The Bellagio, at the corner of Las Vegas Blvd. and Flamingo Blvd. on the rooftop and below ground of Caesars Entertainment's 188 room and suite hotel The Cromwell and the classic Bally's Hotel/Casino. With unrivaled views, Drai's Beach Club - Nightclub takes entertainment and nightlife to new heights. The Strip's only rooftop Beach Club includes multiple pools shaded by 10 towering palm trees, a variety of cabanas and bungalows, two full-service bars and a gourmet kitchen. Drai's Nightclub is a dazzling, multi-level club with an expansive dance floor, massive LED lighting systems, and modern technology featuring more than 4,000 square feet of the most state of the art high definition LEDs in production, including a towering 80-sided LED disco ball - the only one of its kind, and the opportunity to detonate custom rooftop firework shows. Additionally, the legendary Drai's Afterhours is back in its original location for its 16th year and now brings late night/early morning entertainment to the Strip six nights a week. Indigo Lounge, located at the iconic Bally's Hotel/Casino, is a sexy, plush and beautifully designed lounge and bar on the casino floor at Bally's Las Vegas. Once a main-stay of the Las Vegas experience, the casino lounge concept has all but disappeared, but with the arrival of Indigo Lounge, Victor Drai brought the classic, sophisticated Las Vegas icon back to the center of the Las Vegas Strip.

For more information, visit www.draislv.com and follow Drai's at Facebook at www.facebook.com/draislv and on Twitter at www.twitter.com/draislv and Instagram @draislv

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About Cachet Hospitality Group:

Cachet Hospitality Group (CHG) is a lifestyle hospitality branding and management company with offices in Los Angeles, Shanghai and Bangkok. CHG's mission is to be the leading innovative and socially responsible hospitality company in Asia Pacific and North America, with recent expansions into Cabo San Lucas and New York City. With numerous projects under development, CHG is focused on establishing properties in Greater China, Southeast Asia and the Americas. For more information, please visit www.cachethotelgroup.com.

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