Wyndham to Build Condo Hotel with BVC in Orlando, FL

500-plus units planned for condo hotel on site near Walt Disney World

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. October 14, 2008

NOVEMBER 22, 2006. Central Florida based BVC Corp., also known as Buena Vista Corp, has announced plans to build a twin tower, 30-story luxury condo hotel in Lake Buena Vista, Florida, flagged under a new Wyndham Hotels and Resorts concept. The hotel will feature upscale villas ranging from 500 to 1,400 square feet, outfitted with luxury amenities, cutting edge technology and offering world class recreational and entertainment facilities. Bordering the Village at Midtown and Ruby Lake, the new 30-story, twin tower Wyndham Condo Hotel will occupy 11 acres on the company's 214-acre Ruby Lake project site, located off of Interstate 4, one mile from the entrance to Walt Disney World.

According to Shamanand K. 'Sham' Maharaj, BVC President and CEO, "At BVC, we are committed to delivering an unforgettable and exciting experience for our property owners, guests and visitors. We are creating a property that is going to redefine luxury and excellence for homeowners and guests alike. In addition to bringing an intense focus to customer service, we will offer a seamless experience - from unparalleled accommodations with the newest technologies, to superior dining, shopping, recreation and entertainment amenities and services."

The $300 million project has 504 condo hotel units and includes over 30,000 square feet of meeting and banquet facilities, an 8,000-square-foot rooftop night club featuring state-of-the-art equipment and amenities, a 7,000-square-foot luxury spa, a kids club, arcade, sundries, and other retail shopping. Dining venues will include a restaurant in the main hotel, a bar near the lobby, an outside tiki bar and a grab-and-go snack shop. The hotel will feature cutting edge technology, including a world class 'smart' building platform, energy efficient design and electronic features that focus on convenience and safety. The sophisticated system will be designed by Telecom Technologies, a division of BVC. Guests will receive 24-hour concierge service as well as state-of-the-art security systems.

'We are honored to partner with the Wyndham Hotels and Resorts at our Ruby Lake site,' said Maharaj. 'Wyndham is a world leader in delivering outstanding customer service in superior surroundings. There will be nothing comparable around when this hotel opens, especially with the cutting edge technology infused into the design of the building. By bringing together our organizations, we deliver unmatched service and excellence to our homeowners, hotel guests and visitors to this unique property.'

Steven A. Rudnitsky, Wyndham Hotel Group chairman and chief executive officer, said the Lake Ruby project represents an ideal pairing of the upscale Wyndham hotel brand with recreational, conference, residential and commercial facilities. 'We have positioned the Wyndham brand as a natural partner to developers like Buena Vista Corporation that are planning high-end mixed-used developments. The quality, amenities and services associated with the Wyndham brand are designed to fulfill the expectations of the travelers who will be attracted to the Ruby Lake complex.'

Strategically located in the heart of upscale Lake Buena Vista and with easy access to local amenities as well as tourist destinations, the resort offers plenty of activities and unique amenities that will make 'Wyndham Hotels and Resorts' a popular site for tourists and residents alike. The new Wyndham Hotel concept compliments BVC's mixed-use development plan, which includes retail stores, residences, offices, vacation rental homes and attractions encircling Ruby Lake. The hotel is the second major hospitality project that BVC has secured on the mixed-use development shores off of Ruby Lake. Maharaj said that additional announcements of other hospitality and retail brand names coming to the Ruby Lake project would be made in the near future.

Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide (NYSE: WYN) based in Parsippany, N.J., offers upscale hotel and resort accommodations throughout the United States, Canada, Mexico and the Caribbean. All hotels are independently owned and either franchised or managed by an affiliate of Wyndham Hotels and Resorts.

BVC has signed a letter of intent with Wyndham Hotel Group to manage the condo hotel project under the new Wyndham hotel concept. Wyndham Hotel Group is the parent company of Wyndham Hotels and Resorts and Wyndham Hotel Management Inc.