Bray & Gillespie Announces New Company Name

Daytona's Oceans Resorts becomes Ocean Waters Management

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. October 14, 2008

DAYTONA BEACH, FL, January 4, 2004. Oceans Resorts, the largest private hospitality company in the Daytona Beach area, is changing names to Ocean Waters to reflect its parent company's growing brand. With the dawn of 2006 Oceans Resorts, which runs a portfolio of 27 hotels and resorts along Florida's east coast, became Ocean Waters Management. The name change puts the hospitality company in line with its sister company, Ocean Waters Development.

Charles Bray, Ocean Waters owner and founder, explains that the hospitality company is expanding into new areas such as retail, spa, office, multi-family residential, land development and restaurants. The company needs a name that ties all the multi-purpose real estate segments together.

"Everything we do -- whether it's managing fine hotels, building new resort condominiums, or running world-class spas -- we do along the ocean waters,'' said Bray, who has partnered with Joe Gillespie since 1988. "We want all of the companies to reflect our unique sense of place. It is important that each carries the Ocean Waters name.''

The Ocean Waters family of companies includes:

Ocean Waters Management handles the operations of the portfolio of resorts in Daytona Beach, Daytona Beach Shores and Ormond Beach. Ocean Waters also runs DaytonaHotels.com, the largest private hotel reservation site for Daytona Beach. ocean Waters Development specializes in revitalizing the "World's Most Famous Beach" with first-class hotels and resort condominiums. Ocean Waters Development is currently completing a $70 million renovation of the landmark Plaza Resort & Spa, and proceeding with recently approved plans to build a 33-story, 336-room resort in Daytona Beach.

Ocean Waters Spa manages the 15,000-square-foot spa on the first floor of the Plaza Resort & Spa, 600 N. Atlantic Avenue. This European spa is destined to be the flagship of a collection of world-class spas at fine resorts along the Atlantic coast. Ocean Waters Spa serves not only hotel guests, but is open to the entire community. Ocean Waters Capital focuses upon financing activities, merchant banking for acquisitions and development opportunities for the Ocean Waters family of companies.

Ocean Waters Realty is a general real estate brokerage company specializing in oceanfront residential property. OWR plans on becoming an active member of the Daytona Beach Area Association of Realtors (DBAAR) and MLS. "The new year is going to mean even more exciting growth opportunities for us," Bray said. "In January we will sell the last unit at Plaza Resort & Spa. We are committed to this community and we are going to be a partner in its growth."

Over the past year, Bray & Gillespie and the Ocean Waters Family of Companies have donated more than $1 million to worthy community projects. For example, Ocean Waters has contributed $250,000 or more to each of these worthy community programs: Volusia/Flagler Coalition for the Homeless soon to be named the Bray & Gillespie Center For Human Services, the Daytona Beach News-Journal Lively Arts Center, the United Way and the American Red Cross to assist with hurricane relief efforts. Ocean Waters is also co-producing performances at the Bethune-Cookman Performing Arts Center and is the official hotel sponsor for the London Symphony Orchestra scheduled performance in Daytona Beach in 2007.