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Coral Hospitality Signs New Naples Contracts
Two New General Managers Take The Helm

Naples, FL (May, 2004) -- Naples, FL-based Coral Hospitality, a full-service hospitality management company, has signed contracts to manage the Grand Inn, a boutique hotel located at 1100 Pine Ridge Road in Naples, and continue management of the Eagle Creek Golf & Country Club for another three years. James Ayres serves as General Manager of the Grand Inn. Peter Serena has been named as the new General Manager of Eagle Creek.

The newly renovated Grand Inn is implementing a strategic and aggressive program to attract business and leisure travelers. The hotel will serve as the Naples hotel for the Coral Collection of Fine Hotels & Resorts, a collective marketing approach to reach growing numbers of leisure and business travelers. With 105 fully-appointed guestrooms and suites, the hotel also features meeting space, a heated pool, fitness center, an elegantly appointed lobby area, 24-hour concierge, and dining at the adjacent Bennigan's restaurant. Grand Inn is completing renovations this summer with extensive landscaping, lobby refurbishment, and new food and beverage service. The hotel is offering a 2-night stay with 3rd night free package until November 1, 2004. Rates range from $89-169. Call (239) 430-3500 or visit www.grandinnnaples.com for more information and reservations.

Eagle Creek Golf & Country Club is a gated community located on 300 wooded acres, featuring 460 residences, a clubhouse with fine dining, conference room, fully stocked pro shop, and social amenities. Rated annually among the best in Florida, the Eagle Creek Golf Course was designed by noted golf course architect Larry Packard. Subsequent redesigns and modifications have been made by Ken Venturi, former United States Open winner, CBS golf analyst and Eagle Creek member. Eagle Creek will undergo a major golf course renovation this summer, including replacement of the irrigation system, enhancement of cart paths and grass throughout all fairways and roughs with 419 Bermuda grass, renovation of the Cart Barn and halfway house. The Golf Shop and locker rooms were recently upgraded. According to Coral Beach COO Lee Weeks, "Eagle Creek started their relationship with us as our first club management contract for Coral Hospitality in 1999, allowing us to establish the Coral Beach Club Company division. It is a true pleasure to maintain a positive partnership that is now five years strong. "

James Ayres was born into a hotelier family. He began working in the industry at The Registry Resort & Spa in Naples, just after college. His entry into Coral Hospitality started with the opening of the Hotel Escalante. Ayres then moved on to Front Office Manager at Don CeSar Beach Resort & Spa in St. Petersburg, where he played an integral role in completing a $25 million dollar renovation and overseeing front office operations. Coral Beach then tapped him again as Hotel Manager for the Vero Beach Hotel & Club. In November 2003, Ayres was asked to return to Naples to support the management conversion of the Grand Inn and serve as its new General Manager.

As general manger, Peter Serena is responsible for the daily operation of Eagle Creek Golf and Country Club, including member satisfaction, golf course maintenance, the pro shop, food and beverage and all clubhouse departments and operations, as well as the financial performance of the club. For more than a decade, Serena has worked with premier golf resorts, hotels and spas, such as the Wigwam Resort and Golf Club in Litchfield Park, Desert Mountain Properties, and Scottsdale Princess Resort at The TPC in Scottsdale, AZ; St. Regis Aspen, CO; Adams Mark Hotel, Tulsa, OK; and Ihilani Resort and Spa/Ko Olina Golf Course, Kapolei, Oahu, HI. Serena has also held catering and food and beverage positions with Hyatt Hotels.

"We are proud to introduce these two leaders as part of the growing Coral Beach team and portfolio," said John Ayres, Chairman and CEO of Coral Hospitality, "James and Peter bring strong management skills, and are sure to increase awareness and financial performance for the Grand Inn and Eagle Creek Golf & Country Club."

Based in Naples, Florida, Coral Hospitality is an innovative full-service hospitality management company that is committed to owner, guest, member and employee satisfaction through a service and excellence based philosophy and culture that delivers proactive, profitable results. The company currently manages a portfolio of eight hotels, six golf clubs, a luxury resort condominium, and a variety of large development, community master associations -- all located in sought-after destinations throughout Florida. For more information, please visit the website at www.coralhospitality.com.

Media Relations Contacts:
Kristin Wherry/Beth Nelson
305-445-4944
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