Acquisitions & Hotel Openings

Slated for Opening in 2019, True Blue Development to Introduce New Kimpton Kawana Bay Grenada Resort

GRENADA. January 10, 2017 - Kimpton Hotels & Restaurants announced today its second property in the Caribbean with the new Kimpton Kawana Bay Grenada Resort, slated to open in early 2019. A hillside retreat tucked away between tropical rainforest cliffs and the world-renowned Grand Anse Beach, the international luxury resort will offer picturesque views and instant access to the southeastern Caribbean Sea and surrounding mountains.

Owned and developed by True Blue Development Limited, a division of the Tau Capital Group of Companies, Kimpton Kawana Bay Resort will be developed as a partial adaptive reuse with new build expansion. The 146-key resort will comprise 101 luxury studio rooms and 45 suites. 12 additional penthouse apartments will also be available for sale to private owners. A number of Kawana Bay’s suites will include private pools overlooking Grand Anse Beach, largely considered to be one of the world’s best beaches, and all rooms will feature spectacular ocean views. Additional amenities will include an infinity pool, chef-driven restaurant, lounge and beach bars, fitness center, spa and water sports facilities.

Mike DeFrino, Kimpton Hotels & Restaurants’ CEO, said: “Ever since we gave the Caribbean its first taste of Kimpton with our Seafire Resort + Spa in Grand Cayman, the region and resorts in particular continue to be areas of focus for our expansion. Grenada offers us the opportunity to further make our mark and introduce Kimpton to an even wider international audience. Kimpton Kawana Bay Resort will easily become a sought-after destination for travelers looking to enjoy a luxurious yet laid back stay experience. We’re thrilled to be working with True Blue Development and look forward to opening our doors in 2019 to reveal this stunning cliff-side beachfront retreat.”

Located in the southeastern Caribbean Sea at the southern end of the Grenadines, Grenada’s tropical climate and cooling trade winds make for idyllic temperatures year-round. Nicknamed the “Spice Island,” the beautiful, exotic country is rich in local history and culture, providing inspiration to Kimpton’s locally-minded design talent. The name of the resort itself, Kawana Bay, pays homage to the native leatherback turtles, named “Kawana” by the Carib Indians when they settled the island in 1300 AD. Kawana turtles migrate thousands of miles between feeding and nesting grounds, returning every year to the same local beaches to lay their eggs, symbolic of the modern international traveler’s ability to explore the world yet still return to a place of peace and comfort.

Warren Newfield, Principal of True Blue Development, explained: “Choosing Kimpton as our operating partner was an easy decision for us. We were extremely impressed with Kimpton’s business philosophy and approach, and we share the same vision for the resort and its operating style. We are thrilled to have Kimpton as our operating partner and brand, and welcome them to the team.”

With the announcement of the new five-star hotel, True Blue Development Limited also offers interested investors an opportunity to participate in Grenada’s Citizenship by Investment (CBI) program, an expedited and efficient first class investment opportunity. CBI prices start at $350,000 per ownership unit. Investors will receive a share of hotel revenue per year and citizenship of Grenada, which features numerous benefits such as access to visa-free travel to more than 115 countries. For more information on Kimpton Kawana Bay and the Citizenship by Investment program, visit www.kawanabay.com.

Scheduled flights arrive frequently into Grenada’s Maurice Bishop International Airport, located in its capital of St. Georges, from New York, Miami, Atlanta, Toronto, Caracas, London, Frankfurt and a number of Caribbean countries.

About IHG

IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants, HUALUXE® Hotels and Resorts, Crowne Plaza® Hotels & Resorts, Hotel Indigo®, EVEN® Hotels, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®. IHG franchises, leases, manages or owns nearly 5,100 hotels and more than 750,000 guest rooms in almost 100 countries, with nearly 1,500 hotels in its development pipeline. IHG also manages IHG® Rewards Club, the world’s first and largest hotel loyalty programme, with nearly 99 million members worldwide. InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales. More than 350,000 people work across IHG’s hotels and corporate offices globally. Visit www.ihg.com for hotel information and reservations.

About True Blue Development Limited

The owner and developer of Kawana Bay is True Blue Development Limited a division of the Tau Capital Group of Companies. Tau Capital specializes in development projects internationally and has a successful track record across numerous industries spanning 20 years.

About Kimpton Hotels & Restaurants

San Francisco-based Kimpton Hotels & Restaurants is a leading brand of boutique hotels and restaurants and the acknowledged industry pioneer that first introduced the boutique hotel concept to the United States. In 1981, Bill Kimpton founded the company that today is renowned for making travelers feel genuinely cared for through thoughtful perks and amenities, bold, playful design and a sincerely personal style of guest service. Out to help people live full, balanced lives, Kimpton aims to inspire with touches like yoga mats in every room, complimentary coffee and tea to start the day, hosted evening Wine Hour, in-room fitness programming and complimentary bike rentals. The award-winning restaurants and bars are led by talented chefs and bartenders who offer guests a chance to dine like a local. Kimpton is consistently ranked as one of the top companies in the Market Metrix Hospitality Index, Upper Upscale Segment, for Customer Satisfaction. The company is highly-regarded for its innovative employee culture and benefits and has been named a FORTUNE magazine “Best Place to Work” seven times since 2009. Kimpton is continuously growing and currently operates over 60 hotels and 70 plus restaurants, bars and lounges in 30 U.S. cities. In January 2015, Kimpton was welcomed into the InterContinental Hotels Group (IHG) family of hotel brands, bringing together two special cultures and sets of values to create the world's largest boutique hotel business. For more information, visit www.KimptonHotels.com.

Contact:
Russell Bragg
rbragg@kawanabay.com
+1 (473) 409-2500

Contact:
Kristin Huxta Bradley
kristin.bradley@kimptonhotels.com
+1 (267) 386-9438

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