Kor Acquires Ikal del Mar
Five-Star Resort Property Substantiates Kor Hotel Group's Presence on Mexico's Yucatan Peninsula
JUNE 6, 2006. Kor Hotel Group, the Los Angeles-based luxury hotel operator, announces the finalization of its purchase of the five-star Ikal del Mar resort located on Mexico's Yucatan Peninsula, ten miles north of Playa Del Carmen. The property's current management operator, Houston-based ProHotel International, will remain on in the same capacity, enabling a seamless transition in ownership for this distinguished property.
"The Ikal del Mar resort significantly enhances Kor Hotel Group's presence on Mexico's increasingly-popular Riviera Maya," said Brad Korzen, CEO of Kor Hotel Group. "The resort joins with our upcoming Tides Playa del Carmen and Viceroy Riviera Maya Resort and Residence to demonstrate the extent of our commitment to the region and represents a prime addition to our growing portfolio of international hotels and resorts."
Touted as "a sexy, eco-conscious hideaway in the jungle" by Travel + Leisure, Ikal del Mar is situated on approximately six acres of Caribbean waterfront property and stands as one of the few boutique-scale, five-star luxury resorts on the Yucatan Peninsula. Intimate and serene, the resort's design respects and accentuates the pristine qualities of its dramatic jungle and seaside setting. Thirty stand-alone palapas embraced by lush jungle allow guests a level of privacy not found at other resorts of the area. Suites are luxurious and spacious, at over 650 square feet each, and equipped with plunge pools and secluded private terraces. A comprehensive "jungle spa" features a beachfront yoga studio and Maya Temazcal steam treatment cave.
Indicative of Kor Hotel Group's continuing expansion on the Yucatan Peninsula, Ikal del Mar's purchase is part of the company's overall growth strategy nationally and internationally. Kor will debut two ground-up properties in the Riviera Maya region in 2008, Viceroy Riviera Maya in the Mayakoba resort complex and The Tides Playa del Carmen Resorts and Residences.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
