Press Releases

TOM HENDRICK APPOINTED EXECUTIVE VICE PRESIDENT OF ACQUISITIONS AND DEVELOPMENT FOR THE KOR GROUP

-- Hire marks second Mandarin Oriental executive to join Kor team, as company’s dynamic expansion continues to attract top industry experts --

November 2006 (Los Angeles) - Jeffrey Smith, COO of The Kor Group, the Los Angeles-based hotel, real estate development and management firm, is pleased to announce the recent appointment of Tom Hendrick to the newly created position of Executive Vice President, Acquisitions and Development. Hendrick will be based out of Kor’s office in Dallas-Forth Worth and will oversee hotel and resort acquisitions, development opportunities and third-party management agreements on a worldwide basis. Formerly the Vice President of Development for Mandarin Oriental Hotel Group, Hendrick began his official tenure with Kor on November 15 of this year. Last month The Kor Group appointed former Mandarin Oriental Vice President of Operations, Nicholas Clayton, as President of its hospitality division, Kor Hotel Group.

“Our executive team will be significantly enhanced by the addition of Tom and his immense talent,” said Smith in announcing the appointment. “His impressive experience with other leading hotel companies brings valuable expertise and insight to Kor as we continue to initiate new ground-up projects and expand our hospitality portfolio both nationally and internationally.”

Hendrick joins The Kor Group with over twenty years of experience in the hospitality industry. Over the course of his career, he has handled over $1 billion worth of development, finance, acquisition and dispositions transactions combined. Most recently, he was Vice President of Development for Mandarin Oriental Hotel Group, where he directed the company’s new business development for the Americas.

In addition to his work with Mandarin Oriental, Hendrick has served in senior development positions for some the most successful hotel companies in the world, including Rosewood Hotels & Resorts as Vice President of Development, Regent International Hotels as Vice President of Development, Mariner Hotels (presently Remington Hotels) as Executive Vice President of Development and Wyndham Hotels & Resorts as Regional Vice President of Development.

Interview arrangements and photography (including headshot) are available upon request.

About Kor Hotel Group
An innovative presence in the real estate and travel communities, 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. In addition to leading intensive renovations that combine vintage architectural and design elements with up-to-the-moment luxuries and conveniences, Kor also specializes in ground-up condominium and apartment developments and extensive adaptive reuse projects. Current sites include the Molino Street Lofts and The Eastern Columbia Building in downtown Los Angeles. 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, The Tides in South Beach, Chamberlain in West Hollywood, The Jefferson in Washington D.C., Campton Place in San Francisco and Ikal del Mar on the Riviera Maya. A new Resorts & Residences division combines Kor's hotel and residential expertise with forthcoming ground-up projects in Miami, Anguilla and Riviera Maya to debut in 2008 and 2009.