Coral to Manage Gansevoort South Hotel Miami Beach

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. February 19, 2010

February 18, 2010 - The Gansevoort South Hotel in Miami Beach has appointed Coral Hospitality to manage operations at the hotel and its adjacent condominium residences.

Following a $100 million renovation, the 334-room Gansevoort South, with its prime oceanfront location in South Beach and some of the largest guest rooms in South Florida, is one of the most popular destinations in the market. Adding to its allure is a signature, 43,000 sq. ft. David Barton Gym; celebrity-favored restaurants Philippe by Philippe Chow and STK by The ONE Group; and VIP lounge Louis, operated by Opium Group, Miami's premier nightlife operator. Conde Nast Traveler (UK) included the property in its list of the top 50 hottest hotels in the world.

“We are excited to be appointed as the manager of the Gansevoort South,” said Lee Weeks, CEO of Coral Hospitality. “As in other similar transitions in which we have been involved over the years, we expect the change to go smoothly during the next few months. Guests and residents will not experience any disruption in service or amenities during the transition and substantially all of the employees will have the opportunity to be rehired.”

“We have the utmost confidence in the management team at Coral Hospitality,” said Stephen Yankauer, an officer of Column Financial, Inc., an affiliate of Credit Suisse, which now indirectly owns the property. “They understand what it takes to operate a unique, trend-setting property of this magnitude.”

Located at 2377 Collins Avenue, Miami Beach, the Gansevoort South includes 259 condominium residences and 334 guestrooms, which average more than 700 sq. ft. Offering spectacular views of the Atlantic Ocean, Biscayne Bay, or the sparkling city skyline, each room features state-of-the-art technology, oversized bathrooms, custom-designed contemporary furniture and top-of-the-line fixtures in a range of materials, from wood to glass to leather. Guests and residents of the property can select from three spectacular pools - the infinity edge ocean view pool by the Gansevoort Beach Club, the South Pool, and the adults-only, rooftop Plunge pool, which doubles as an ultra-chic club lounge at night.