Kor Buys Tides Hotel in South Beach, FL
Southern-California Based Kor to Impart Celebrated Style and Personalized Service as New Owners of L
LOS ANGELES, CA, March 23, 2006. Kor Hotel Group, the Los Angeles-based luxury hotel operator, has purchased the historic art-deco Tides Hotel in South Beach, Florida. Kor has overseen management of the property since November 2004. Under its new ownership the historic gem is set to re-emerge as an upscale condo-hotel complex that blends classic art-deco with a newly-infused contemporary aesthetic.
"This purchase is particularly significant for Kor as we always felt that Tides would make a great addition to our collection of owned hotels and would be an ideal brand to grow," said Brad Korzen, CEO of Kor Hotel Group. "The Tides' undeniable elegance and stylish location make it ideal for the portfolio."
The transaction marks Kor's first purchase of an existing property on the East Coast and the birth of a new brand. Kor recently announced The Tides Playa del Carmen, a ground-up property forthcoming on Mexico's Mayan Riviera, that will significantly increase Kor's dynamic presence world-wide and is a vital component of Kor Hotel Group's overall growth strategy nationally and internationally. Kor's expansion of a new Tides brand is in timely conjunction with the on-going development of Kor's well-known Viceroy brand in Miami and the Caribbean.
For further information contact (866) 891-0951 or (305) 604-5070. The Tides South Beach is located at 1220 Ocean Drive in Miami, FL.
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 
