The Woodlands Resort & Conference Center in Texas Completes $75-Million Expansion and Renovation

. March 26, 2015

THE WOODLANDS, Texas - March 26, 2015 - The Howard Hughes Corporation® (NYSE: HHC) announced today that The Woodlands® Resort & Conference Center's all-encompassing $75-million plus expansion and renovation, completed at the end of 2014, is transforming the already-acclaimed convention center hotel into the premier luxury resort in the Houston region. Renowned for its idyllic, wooded setting in the heart of the celebrated Woodlands community north of Houston as well as for its award-winning service, The Woodlands Resort & Conference Center is well-suited for corporate events and leisure travelers. The redevelopment enables the property to meet the burgeoning demand driven by the strong growth in The Woodlands over the past five years.

The 20-month renovation and expansion re-imagined virtually every aspect of the property, including -

• The replacement of 206 lodge-style rooms with Fairway Pines III - a new wing of 184 guest rooms and suites

• The renovation of 222 existing guest rooms and suites in the Fairway Pines I and II guest wings
• A new 3,036 square-foot "Living Room" connecting the three guest rooms wings, ideal for informal gatherings
• An expanded arrival experience with porte-cochere and spectacular lobby featuring native Texas stone and massive, three-story windows
• A new lazy river winding 1,005 feet through the surrounding forest, highlighting the Forest Oasis Waterscape™
• A fully revitalized 60,000 square feet of meeting and event facilities, including the ballroom, boardrooms, breakout space, lobby and pre-function areas
• A new 156-seat high-end steak house restaurant and lounge - Robard's - adjacent to the 18th hole with a private wine vault and outdoor patio

"The Woodlands Resort & Conference Center is the premier destination for business meetings, social occasions and getaways in the Houston region," said David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation. "We will continue to innovate and enhance the resort in the years to come to provide our visitors with a best-in-class hospitality experience that will draw them to return again and again."

Led by interior design firm, Looney & Associates, and global design leader Gensler, the conceptual approach for the redevelopment weaves together a strong connection to nature with a sophisticated, contemporary Texas lifestyle respecting the original idea of an authentic, nature-inspired retreat while providing visitors with a luxury experience.

On the leisure side, the new lazy river winds its way through the resort's Forest Oasis Waterscape™, adding to the "oasis of fun," which includes favorites such as two-story spiraling double water slides, lagoon-style pools, waterfalls, underwater music and murals and Puffy's Sprayground™, a synchronized water experience with waterspouts and fountains.

Set on the edge of the lake surrounding the 18th green, the main dining room at Robard's - the new upscale American steak house - boasts warm contemporary styling, a stunning 8' long raised fireplace framed in dark bronze metal, 14' windows and 20' vaulted wood-beamed ceilings with custom chandeliers and skylights. Every table in the restaurant has expansive views of the 18th green of the Panther Trail™ golf course.

New technology was introduced into the resort as well, including the upgrade of all of the wireless connectivity and providing free WiFi in its guest rooms. Additionally, the property now has the ability to provide bandwidth speeds up to 1Gbps for meetings upon request. In the conference space, new fiber and CAT6 cabling was also installed to accommodate higher speeds for meetings and events.

"We are pleased with the work that has gone into this expansive makeover for the resort," said Greg Parsons, General Manager of The Woodlands Resort & Conference Center and Vice President of Hospitality for The Howard Hughes Corporation. "We look forward to continuing to welcome guests to enjoy this extraordinary destination, whether they are traveling for business or for pleasure."

To enjoy the new resort, guests are invited to make reservations by calling 866-361-5674 or by booking via the new website at www.woodlandsresort.com.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as "will," "believe," "expect," "enables," "realize," "plan," "intend," "assume," "transform" and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation's filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.

About The Woodlands® Resort & Conference Center

Just minutes north of Houston, The Woodlands Resort & Conference Center perfectly balances its breathtaking natural setting with modern luxury and service excellence. Meeting attendees have access to modern accommodations and 60,000 square feet of engaging meeting space, while the leisure set can enjoy a multitude of best-in-class amenities. The nationally ranked top ten pool features favorites such as the resort's two-story spiraling double water slides, lagoon-style pools, as well as a new 1,005-foot lazy river. These features paired with 36 holes of championship golf, tennis, a full-service spa, and close proximity to shopping and entertainment makes The Woodlands Resort & Conference Center a premier destination for conferences, business travelers and families. Visit www.woodlandsresort.com or call 866-361-5674.

About The Howard Hughes Corporation®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 16 states from New York to Hawai'i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit www.howardhughes.com.

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