Thomas Pippett Named Property Manager InterContinental Palazzo del Lago

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. October 14, 2008

ORLANDO, FL, April 13, 2006. Thomas Pippett, chief operating officer of Hospitality Development Group Inc. (HDG), has been named property manager of The Intercontinental Resort & Residences Orlando at Palazzo del Lago, an upscale mega resort complex in Orlando that includes a 1,260-room first-class hotel, hotel condominiums, and The Villas - 994 resort residential condominium villas in five separate towers of 18 stories each. When completed, the $800 million property in Orlando will be the largest InterContinental hotel worldwide and a designated hotel of the Orange County Convention Center.

For over 25 years, Pippett has been the owner's representative/project manager for some of America's most prestigious hospitality projects. He has represented high-profile clients such as Marriott, Loew's Hotels, Sands Hotels, Carnival Hotel and the Trump Organization, where he spent 11 years managing notable properties and developing a reputation for on-time project completions. The $350 million Trump Taj Mahal Hotel and Casino was brought to completion in 16 months; and the $230 million Trump Plaza & Casino was delivered in 20 months.

As Chief Operating Officer of HDG, Pippett is actively involved with the daily management of construction and installation elements of all HDG's projects, constantly monitoring costs, and assuring the on-time delivery of all phases of construction. Pippett will be parlaying his experience as he manages the day-to-day operations of the InterContinental Palazzo del Lago project.

The Intercontinental Resort & Residences Orlando at Palazzo del Lago is the first official hotel of the Orange County Convention Center and will be the largest InterContinental hotel worldwide, with 1,260 luxury hotel rooms and suites, of which 585 will be sold as hotel-condominiums. The resort will also include The Villas at Palazzo del Lago, comprised of 994 resort residential villas in five 18-story towers. Construction on Phase I, which encompasses the InterContinental Resort & Residences Orlando and the first resort residential tower, is scheduled to start this fall. The resort is expected to open in early 2009.

One of the few waterfront resorts in the area, Palazzo del Lago is being developed on 42 acres located on Lake Bryan, just two minutes from Walt Disney World(R). In addition to nearby attractions, owners, guests and their families will enjoy a full complement of resort activities and amenities onsite. Among the highlights are Smart technology throughout, a world-class spa, 300 feet of white sand beaches, a water sports facility, five themed restaurants, putting green, tennis, and an elegant resort pool with cascading fountains. Additionally, the InterContinental Resort & Residences Orlando at Palazzo del Lago will offer a comprehensive conference facility with 114,000 square feet of convention, meeting and banquet space.

The Mediterranean style Palazzo del Lago is a family-friendly destination that is also equipped to meet every need of the business traveler. Its units come fully furnished and tastefully decorated. Reservations are now being accepted, for both the InterContinental Resort & Residences and The Villas at Palazzo del Lago.

Exclusive sales and marketing is through Palazzo International Realty, LLC and CMI, Licensed Real Estate Brokers. The $1.2 million sales center on International Drive is scheduled to open in June.