Sawgrass Marriott Gets $56 mil Upgrade

. October 14, 2008

PONTE VEDRA BEACH, FL, November 8, 2006. Redquartz Boundary Ltd. (RQB), the new Sawgrass Marriott Resort & Spa ownership group -- together with the Sawgrass Marriott and TPC Sawgrass teams -- recently announced a refreshed vision to establish the Ponte Vedra Beach area as one of the premier golf, spa, beach and convention destinations in the world. "The dynamic partnership between RQB, Sawgrass Marriott and TPC Sawgrass is setting up the Sawgrass destination to secure a position as the Pebble Beach of the East," said Debi Bishop, general manager of Sawgrass Marriott Resort & Spa.

The powerhouse trio is investing more than $56 million in sweeping enhancements to everything from the famed THE PLAYERS Stadium Course and a new TPC Sawgrass Clubhouse to an extensive transformation of the Marriott guestrooms. Sawgrass Marriott guests are the only golfers with exclusive privileges and access to the legendary THE PLAYERS Stadium Course or Dye's Valley Course without a TPC Sawgrass membership or as a member guest.

"Sawgrass will undoubtedly be paralleled with iconic golf destinations such as Pebble Beach and Pinehurst," said David O'Halloran, the representative for RQB Ltd., the joint venture comprised of affiliates of an Irish-based investment company, and chief executive officer of RQB America.

Bill Hughes, general manager of TPC Sawgrass, added, "with THE PLAYERS Championship primed to go to the next level with a new May date, High Definition NBC broadcast with limited commercial interruption, and our dramatic renovation, we are clearly at a defining point in elevating Sawgrass as one of the most unique golf destinations in the world."

During a media briefing held Wednesday, Nov. 8, O'Halloran, Bishop, Hughes and Vernon Kelly, chairman of the RQB Development Committee and past president of PGA TOUR Golf Course Properties, illustrated how they are "in bed together" in an outdoor replica of the resort's revived guest room. Sawgrass Marriott Resort & Spa, already hailed as one of the "Top 10 Best Golf Resorts in the World" by Travel + Leisure Golf magazine and the Official Hotel of the TPC Sawgrass, is receiving a $16 million enhancement of guest rooms in the main tower of the resort scheduled for completion in January 2007. Each room will be transformed into a Marriott "Revive" room, bringing guests a new level of service, luxury and indulgence.

Each newly appointed guestroom incorporates a fine collection of contemporary wood furnishings and distinctive silver light fixtures, amidst a backdrop of delicately blended earth tones in the wall and floor coverings, window treatments and coordinated artwork. Workspace is converted into a more spacious design that includes a sleek, ergonomic desk and chair, while each room features high-speed Internet access and plasma TVs. "Revive" bathrooms, which have been expanded to provide optimum space, feature enhanced vanities, redesigned flooring, dual sinks in granite countertops, framed mirrors and all-new chrome fixtures. Plush Marriott bedding completes the bold transformation, boasting new mattresses, soft sheets and an abundance of down pillows.

The resort, with 508 guest rooms, suites and villas, includes the new 20,000 square-foot Spa at Sawgrass, four resort swimming pools and access to 26 miles of Atlantic beach at the Cabana Beach Club.

The resort renovation coincides with a $40 million improvement program at the PGA TOUR's flagship TPC Sawgrass. Extensive renovations to THE PLAYERS Stadium Course and the construction of a spectacular new clubhouse will continue to elevate THE PLAYERS as one of the world's premier professional golf events.

THE PLAYERS Stadium Course is nearing the completion of its multi-million dollar renovation project initiated by the PGA TOUR under the direction of the original world-renowned course architect, Pete Dye. While remaining similar in character, the "new" course features a variety of aesthetic and competitive enhancements along with new state-of-the-art drainage and irrigation systems designed to help the course maintain its pristine playing conditions year-round.

The adjacent Dye's Valley Course, a collaboration of Pete Dye, architect Bobby Weed and former Champion's Tour Player Jerry Pate, was named "Most Under-rated Course in Florida" by Travel + Leisure Golf and is in excellent condition following more than $1 million in enhancements completed in the spring of 2006, including extensive landscaping improvements and bunker reconstruction.

Both courses will be complemented by a dramatic, new 77,000 square-foot Mediterranean Revival-style clubhouse, scheduled to open in May 2007. Featuring premium views of the 9th and 18th holes, the clubhouse will spotlight a variety of world class amenities including an 11,000 square-foot event lawn where spectators gather, a 2,550 square-foot Main Dining Grille with a 1,300 square-foot terrace, 11,000 square feet of banquet and meeting space, a Champions Lounge, separate Member/Player locker rooms and resort locker rooms, outstanding golf shop, expansive foyer/gallery and numerous features with exhibits and displays depicting the history and legend of the PGA TOUR and THE PLAYERS. Newly enhanced practice facilities, the addition of the TOUR Academy and the launch of a new Caddie Program, enabling golfers to walk the course in the same way THE PLAYERS competitors do, will provide guests with a true PGA TOUR experience.

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