NAPLES, FL (August 1, 2005) – Developer George Heaton has retained Coral Hospitality to manage the new Vero Beach Hotel & Club, located at 3500 Ocean Drive in the emerging destination of Vero Beach in Indian River County, Florida. The extensive multi-million dollar redevelopment project, beginning this year, will transform this former quaint seaside inn into an upscale 88-suite beachfront condominium hotel and beach club.

Coral Hospitality will oversee the property’s operations, personnel, and sales and marketing programs. Coral’s management team has worked with this property for five years; their experience greatly benefits this project during redevelopment with regards to construction, design and the community.

“We look forward to making Vero Beach Hotel & Club one of Florida’s most sought-after condo hotel options,” said Lee Weeks, CEO of Coral Hospitality. “Vero Beach is becoming a hot spot and this property’s prime beachfront location, unpretentious sophistication and attentive staff will attract locals and international visitors alike.”

The hotel will feature 88 one- and two-bedroom suites with a heated oceanview pool, Jacuzzi and waterfall feature, pool bar and grill, signature restaurant, fitness center, luxury spa, beach club, children’s program, business services, and concierge, laundry and valet services.

The hotel and its amenities will be developed in two phases, with the first expected by Spring 2006. The spa is planned for the second phase, late Fall 2006. The suites will also be sold in the condominium/hotel category, offering owners the amenities and services of the luxury resort and beach club.

Vero Beach is one of the fastest growing areas of Florida offering shopping, a myriad of cultural pursuits, fine dining, growing commerce, extensive water and land sports, and a peek into the pristine ecosystem of this coastal area. Area highlights include the Environmental Learning Center, McClarty Museum, Museum of the Arts, Los Angeles’ Dodgers Major League Baseball Team spring training, private and public golf courses and tennis facilities, shopping at Indian River Mall and the Horizon Outlet Center, Pelican Island Wildlife Refuge, McKee Botanical Garden and water activities including, kayaking, fishing, diving and much more.

Based in Naples, Florida, Coral Hospitality is a full service management company with a diverse portfolio of resorts, hotels, condominiums, private golf and tennis clubs and community associations. Currently managing a collection of 35 properties throughout Florida and Georgia, Coral operates each with a core belief in providing thoughtful service in unique surroundings. For more information, contact Coral Hospitality at (239) 449-1800 or www.coralhospitality.com.