David Gostfand Names Kimpton as Operator for Condo Hotel in West Palm Beach

. October 14, 2008

SAN FRANCISCO, CA, January 11, 2006. Kimpton Hotels & Restaurants Group, LLC, the leader in the boutique/lifestyle hotel segment, today announced plans to operate The Harrick, an all-suite luxury boutique hotel being developed in downtown West Palm Beach, Florida. Owned by residential developer David Gostfand, the property marks Kimpton's fourth project in South Florida.

The Harrick, West Palm Beach, will stand over 20 stories in the center of thriving West Palm Beach's new urban landscape. Located in the heart of downtown West Palm Beach's business district at the corner of Lakeview Avenue and Dixie Highway, the hotel will have close proximity to CityPlace, the Kravis Arts Center, and West Palm Beach's convention center. Additionally, the chic attractions of Palm Beach are also accessible to this premier locale.

"The Harrick's distinctive architecture, style, services and amenities will be a prime offering to the area of West Palm Beach," said Troy Furbay, senior vice president of acquisitions & development for Kimpton. "Kimpton saw a strategic opportunity to partner on a project with strong appeal and tap into a market that is quickly becoming a key urban destination in the South Florida region."

Featuring 138 spacious rooms, The Harrick will be an all-suite property, with 118 one-bedroom suites and 20 two-bedroom suites, ranging in size from 630 to approximately 1,200 square-feet. Each elegantly-designed guest room will feature a fully-equipped PoggenpohlTM kitchen, with state-of-the art Sub-ZeroTM appliances and the penthouse floors will offer breath-taking cityscape and ocean views. The roof-top pool deck with plush lounge seating will become the center of action, where guests can enjoy specialty cocktails while viewing the sunset. The hotel will also feature a comfortably chic living-room lobby, fitness center and a chef-driven restaurant, in addition to Kimpton's signature services, amenities and programs.

"Kimpton has reached new heights as a renowned operator of exclusive hotel properties with its distinct panache and style," said David Gostfrand, The Harrick's developer. "Their familiarity with South Florida coupled with their stellar reputation made for an ideal fit for this project."

New-build construction is slated to begin in early 2006, with the hotel scheduled to open in the Fall of 2007. For further information on The Harrick, please dial 561.837.6600 or visit www.theharrick.com.

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