USA, Greenwood Village, Colorado. March 28, 2024

CoralTree Hospitality is setting a new standard for vacation rental management with the launch of the CoralTree Residence Collection. The portfolio of residential resorts and vacation rentals includes more than 1,100 residences and 26 homeowner associations under management from Hawaii to Colorado.

"We are launching the CoralTree Residence Collection because we recognized an opportunity in the market," said Tom Luersen, president of CoralTree Hospitality. "With our company's deep roots in vacation rental management, we knew we'd be able to meet the demand and provide customized and enhanced support in this space. In late 2023, we substantially grew our portfolio of vacation rentals and are excited to further expand, operationalize and brand this collection to highlight our expertise in this area." CoralTree's parent company Lowe launched its hospitality management business in 1973 to provide residential resort management services.

The CoralTree Residence Collection includes vacation rental properties and residential resorts in Vail and Snowmass in Colorado as well as in resort destinations on three islands - Kauai, Hawaii Island, and Maui - in Hawaii. Properties include Kaanapali Alii and Wailea Beach Villas on Maui, The Lodge at Kukui'ula on Kauai, Woodrun Place and Top of the Village in Snowmass as well as Montaneros and The Landmark in Vail.

CoralTree provides its signature homeowner-focused approach through a commitment to superior financial performance while overseeing the common elements and services at each property with the utmost care. Among the services provided by the CoralTree Residence Collection are owner relations and renovation services, accounting and financial services, guest/concierge services, front desk and amenity management, maintenance and capital project oversight, marketing, distribution and pricing, housekeeping, asset management and procurement.

Keys to Success

"The key to our long-standing success in the residential management industry has been simple - we keep focus on our personal relationships with homeowners and homeowner association boards," said Mike Cuthbertson, senior vice president of residential resorts for CoralTree. "Our number one priority is amplifying value for our homeowners by appreciating the unique characteristics of each property. We tailor each operating model to enhance customer experience and our marketing plans to increase real estate values while provide long-term growth of each property's unique brand equity. For our guests, we combine the best elements of a four diamond hotel and vacation rental experience. We are a hospitality company at our core, but the CoralTree Residence Collection is purpose-built to service residential properties including resorts, vacation rentals and homeowner associations."

CoralTree provides support through local property experts while also offering global resources and infrastructure via the company's home office. The CoralTree Residence Collection's core principles remain focused on optimizing cash flow to residence owners, caring for owner's homes, proactive and transparent communications, creating amazing guest experiences and fostering a thriving workplace for team members. This is done in a variety of ways.

• CoralTree's management model is customized for each resort and leverages the company's home office for purchasing power and unrivaled expertise in renovation, design, legal and governmental adherence.
• The company provides customizable services that preserve the quality of the residence and property including asset management, HOA fiscal planning, in-residence maintenance, renovation and remodel coordination.
• CoralTree creates a service culture that delivers resort-like experiences and amenities that increase average daily rate.

The company is homeowner-centric and focused on performance in several ways as well.

• CoralTree understands a homeowners' priorities - revenue enhancement, cost efficiency and management transparency.
• Sophisticated industry leading distribution and sales and marketing platforms are used across all properties.
• Dedicated property managers focused on care for each residence, owner communication and support coordination.
• Profitability is optimized by capturing efficiencies and economies of scale through proven purchasing, accounting, operating and human capital systems.

For more information, please visit CoralTreeResidenceCollection.com.