Industry Update
Press Release13 April 2015

The Middle East's First Delano Hotel to Debut in Dubai

Morgans Hotel Group and IFA Hotels & Resorts to Launch a Delano Resort in 2017

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DELANO

Morgans Hotel Group Co. (NASDAQ: MHGC), a global leader and innovator in 'Creative Class' boutique hotels, today announced its partnership with IFA Hotels & Resorts (IFA HR) to bring the Delano brand to the Middle East with Delano Dubai. Scheduled to open in 2017 as the third hotel in the Delano portfolio, Delano Dubai's 110-key deluxe hotel apartment property will be situated on Palm Jumeirah and will form part of a contemporary mixed-used resort development known as The8.

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"Dubai is an ideal destination for us to debut our first Delano property in the Middle East," said Jason Kalisman, Interim CEO of Morgans Hotel Group. "The location and resort concept speaks to the Delano guest experience of providing an oasis of sensuality and soul, and where sophistication and ease seamlessly blend with timeless design. Delano Dubai's prime beachfront island location on Palm Jumeirah has a sleek contemporary design and upscale resort facilities which will attract an international clientele who embrace style, elegance and luxury."

The 110 distinctive apartments will include one-, two-, and three-bedroom units fully furnished and equipped to the highest standards as well as a unique Presidential Suite. Guests of the Delano Dubai property will feel a sense of familiarity and affinity with the original Delano properties in South Beach, Miami and Las Vegas – all of which have a clean, elegant contemporary aesthetic and a whimsical nature.

"Managing this hotel with their specialist asset management and operational arm, IFA Hotel Investments, will enable us to benefit from their extensive experience in development and operations in this market, and allow us to work together to redefine Dubai's resort scene," continued Kalisman.

The8 is currently under construction and will feature both Delano-branded hotel apartments as well as residential properties offering diverse facilities and entertainment. IFA Hotel Investments (IFA HI) will oversee the asset management and operational aspect of the development. Launched in 2014, The8 has been architecturally designed as ultra-sleek and modern, drawing inspiration from the fashion, design, and lifestyle elements of Miami's South Beach. The8 will contain resort-style facilities including extensive water-sports, a gym, tennis courts, a signature beachfront restaurant, beach cabanas, barbeque and event areas, as well as dedicated amenities for young families.

"The selection process saw many international brands interested in the project and I am delighted with the final choice of the Delano brand, backed by Morgans Hotel Groups' expertise," said Joe Sita, IFA HI CEO, who led the extensive operator search with the asset advisory team. "The entrance of Morgans Hotel Group into this region, working alongside our residential services teams, will augment a growing brand implementation strategy within the city."

"This new management agreement with Morgans Hotel Group, one of the USA's most celebrated boutique hotel brands, brings a new design aesthetic and style of service to the region," said Khaled Esbaitah, CEO IFA HR Middle East. "We sought to ensure that whichever operator The8 introduced would add significantly to the development's offer. We feel that with Delano we have achieved the perfect match."

Morgans Hotel Group Co. is widely credited as the creator of the first "boutique" hotel and a continuing leader of the hotel industry's boutique sector. Dedicated to building a differentiated brand portfolio and establishing properties in 24 hour urban and select resort markets, Morgans Hotel Group creates lifestyle hotels with a vibe that encourages guests to live every moment more intensely. Morgans Hotel Group is immersive, transformative and deeply engaging; embracing irony and style, elegance and luxury, with strong and daring vision. The group's international hotel portfolio brings together the creative power of many – designers, artists, musicians – to bend the rules, stretch the realm of possibility and constantly push the boundaries of what a hotel can be.

For more information on Delano Dubai, please visit www.delanodubai.me

About IFA Hotels & Resorts

Listed on the Kuwait Stock Exchange, IFA Hotels & Resorts (IFA HR) is a worldwide leader in the development of mixed-use hotel and residential resort projects as well as luxury leisure services. The company's main shareholder is Kuwait-based International Financial Advisors and it currently has a market capitalisation of $US1billion. In 2010, IFA HR created IFA Hotel Investments (IFA HI) to provide strategic direction to its operational assets and expand its portfolio within the hospitality industry. IFA HR's existing portfolio incorporates projects in the Middle East, Europe, Africa, the Indian Ocean, Asia and North America. For more information please visit www.ifahotelsresorts.com.

About IFA Hotel Investments:

IFA Hotel Investments (IFA HI) is a wholly owned subsidiary of publically listed IFA Hotels & Resorts. IFA HI's role is to lead, on a worldwide scale, IFA Hotels & Resorts' operational asset portfolio including its hotels, hotel condominiums and other commercial ventures. IFA Hotel Investments also oversees the company's private residence clubs and vacation clubs, including its newest venture in this arena – Aria Vacation Club. IFA HI focuses mainly on assets in emerging markets; an area in which the company has an advantage through applying a proven formula of asset class diversification. Leading similar expansion efforts in developed markets is YOTEL, the world's most radical hotel concept, in which IFA HR has a majority stake and which IFA HI oversees.

Related Brand

Delano

Delano is the ultimate oasis of sensuality and soul, where sophistication and ease seamlessly blend with timeless design. Effortlessly chic and flirtatious, yet restrained in its simplicity, Delano is proof that the new rules of elegance are crisp, clean, and modern, without fuss or complexity.
brand information

About Morgans Hotel Group

Morgans Hotel Group Co. (NASDAQ: MHGC) is widely credited as the creator of the

first "boutique" hotel and a continuing leader of the hotel industry's boutique sector. Morgans Hotel Group operates Delano in South Beach, Mondrian in Los Angeles, South Beach and London, Hudson in New York, Morgans and Royalton in New York, Clift in San Francisco, Shore Club in South Beach and Sanderson and St Martins Lane in London. Morgans Hotel Group has ownership interests or owns several of these hotels. Morgans Hotel Group also has expanded its brand through Delano in Las Vegas, a licensed hotel, and 10 Karakoy in Istanbul, Turkey, a franchised hotel. Morgans Hotel Group has other hotels in various stages of development to be operated under management or franchise agreements, including a Mondrian property in Doha, Qatar. For more information please visit www.morganshotelgroup.com.
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