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Coral Hospitality To Manage 'The Tides
on Hollywood Beach' Condominiums

- Expands Relationship with MCZ/Centrum
and South Florida Locations



NAPLES, FL (November 3, 2004) - Coral Hospitality, a full-service hospitality management company, announced that it has been retained by MCZ/Centrum as the new property management company for The Tides on Hollywood Beach Condominiums, formerly the OceanCrest apartments, located at 3801/3901/4001 South Ocean Drive in Hollywood, Florida. The company will oversee all operations, staffing and delivery of amenities and services for the three oceanfront buildings. Effective immediately, Lee Villarreal has been appointed General Manager. Condominium sales will begin early November 2004.

The Tides on Hollywood Beach Condominiums features 943 apartment units that are being converted to condominiums with luxurious amenities and services including three heated pools, a beach club, business center, fitness center, concierge and valet parking. The units are located on Hollywood's famed white sandy beach. Residents benefit from the area's explosive growth including new restaurants, nightclubs, shopping and other leisure and business options.

"We look forward to making The Tides on Hollywood Beach one of South Florida's most sought-after residential destinations. The area is becoming a hot spot for locals and international visitors alike," said John Ayres, Chairman of Coral Hospitality, "and this property's location, amenities and attentive staff will attract buyers seeking beach club resort-style living."

"Coral Hospitality has a polish and sophistication in their management style. They are acutely aware of the needs and services that are vital to developing a successful condominium in a resort setting," states Tina Guziec, MCZ/Centrum. "We share a common goal to create an upscale community for the residents. Coral brings extensive hospitality management expertise with property management and boutique hotels throughout the United States and Caribbean." MCZ/Centrum are also the owners and condominium project developers of The Wave on Hollywood Beach, and The Cite in Miami. They specialize in rejuvenating classic structures to serve new homeowners. They have developed properties in Chicago, Kansas City, and South Florida.

Based in Naples, Florida, Coral Hospitality is an innovative full-service hospitality management company that is committed to owner, guest, member and employee satisfaction. This is derived from a philosophy dedicated to the establishment of a culture based on service and excellence that delivers proactive, profitable results. The company currently manages a portfolio of hotels, condominium resorts, golf and country clubs, restaurants, marinas and yacht clubs, as well as community association management. For more information, visit our website at www.coralhospitality.com.

Media Relations Contacts:
Kristin Wherry/Beth Nelson
305-445-4944
Email: info@pprcommunications.com