Kolter Group and Hyatt Break Ground on Hyatt Place in Florida

Delray Beach/Downtown at Pineapple Grove Arts District

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. July 15, 2011

DELRAY BEACH, FL - July 14, 2011 - Hyatt Hotels & Resorts and Kolter Group, LLC today break ground for Hyatt Place Delray Beach/Downtown conveniently located in the heart of the Pineapple Grove Arts District.

The hotel offers:

• 134 spacious guestrooms, all of which feature a 42-inch HDTV, the plush Hyatt Grand Bed® and an eight-foot sectional sofa sleeper
• Complimentary Wi-Fi access throughout the hotel
• Complimentary continental breakfast featuring a variety of fresh fruits, hot and cold cereal, yogurt, breads, premium coffee and an assortment of juices
• 24/7 Guest Kitchen serving made-to-order snacks and entrees
• Intimate Bakery Cafe featuring specialty coffees, premium beers, wines and cocktails
• Functional and flexible meeting space and an executive boardroom
• Mixed use retail space
• Elevated second floor outdoor pool
• Ample garage parking

In addition to its downtown Delray Beach location in the heart of the Pineapple Grove Arts District, the hotel is also near the famous Atlantic Avenue shopping and dining district, Old School Square, Morikami Museum, and also just a short drive to the area's famed white-sand beaches. The hotel will be constructed and developed by Kast Construction and is scheduled to open fall 2012. “We are excited to bring another great new hotel to Palm Beach County in partnership with Hyatt and the city of Delray Beach. The city was more than supportive in getting the new development approved and I believe this new hotel will afford another great lodging choice in the Delray Beach market”, notes Scott Webb, President of Kolter Commercial.

Kolter Group LLC
The Kolter Group's experience spans multiple geographies, real estate asset classes and stages of the development and investment cycle, from acquisition and entitlement of land to asset management of income-producing property. Headquartered in Palm Beach County, Florida, The Kolter Group is a private investment firm that is focused on real estate development, investment and construction.

KAST Construction
KAST Construction Company LLC is the independently operated full-service construction and project management affiliate of The Kolter Group. To date, KAST and its affiliates have successfully completed nearly 9 million square feet of construction projects in North America. KAST's unique blend of operating expertise and financial strength enables the firm to deliver successful projects in the toughest operating environments.

Hyatt Place Background
connected and productive while traveling. Features include complimentary Wi-Fi access, a StayFit@Hyatt fitness center, a coffee and wine bar serving specialty coffees and premium wine and beer, and the Grab 'n Go case stocked with freshly made sandwiches and salads. The Guest Kitchen offers made-to-order breakfast, lunch and dinner entrees around the clock, in addition to the complimentary continental breakfast served daily. Specially trained Hosts are on hand to offer assistance with everything from directions to check-in to a freshly made meal.

About Hyatt Place
Spacious guestrooms feature multiple areas to work and relax, and include the Cozy Corner, an eight-foot sectional sofa sleeper; plush Hyatt Grand Bed; and ergonomic work center. Every guestroom is also equipped with a state-of-the-art media center that allows electronic devices to plug directly into the 42-inch, high-definition television, giving guests instant access to the technological amenities they're accustomed to accessing at home or in the office.