USA, Greenwood Village, Colorado. April 28, 2022

Tom Luersen, president of CoralTree Hospitality, today announced that the company is expanding its portfolio with Tavistock Development Company after the successful launch of the Lake Nona Wave Hotel, which opened in December 2021. CoralTree now also manages four of the development company's Marriott branded properties in Lake Nona including a Courtyard, Residence Inn, SpringHill Suites and a new Aloft Hotel, which is scheduled to open in the fall of 2023.

"It's a great compliment when owners choose to expand their partnership with us," said Luersen. "We've had a great relationship with Tavistock throughout the opening of the Lake Nona Wave Hotel and look forward to supporting the development company's four Marriott hotels in Lake Nona as well. It's an exciting time with Tavistock as we continue to build our partnership in the Orlando area."

CoralTree started working with Tavistock in late 2020 when the management company was entrusted with opening the 234-room Lake Nona Wave Hotel, the centerpiece to the Lake Nona community urban core. The four additional branded hotels represent 562 more rooms under CoralTree's management. Each of the Lake Nona hotels under CoralTree management ranks at the top of their brand throughout the United States with the Courtyard by Marriott Orlando Lake Nona ranked No. 4, the Residence Inn by Marriott Orlando Lake Nona is No. 12 in the Americas and the SpringHill Suites by Marriott Orlando Lake Nona is rated No. 13.

Located minutes from Orlando International Airport, Lake Nona is a convenient destination for the more than 40 million passengers traveling though Florida's busiest airport each year. Created by Tavistock, Lake Nona is built on partnerships and one-of-a-kind experiences that bridge the connection between live, work, stay and play. An idealized city of the future, Lake Nona is an environment designed for people, institutions and businesses to thrive.

"We've enjoyed a wonderful working relationship with the team at CoralTree and we are looking forward to extending that across all of our hotels in Lake Nona to create a seamless and exceptional guest experience," said Nick Beucher, president of Tavistock Development Company.

About Lake Nona

Planned and developed by the Tavistock Group, Lake Nona is one of the fastest growing and most innovative communities in America. Located in Orlando, Florida, the 17-square-mile community has established a new standard of living for its residents with groundbreaking initiatives around technology, mobility, and wellbeing. Lake Nona is located contiguous to Orlando International Airport in the most visited destination in the U.S. The smart and connected community's advanced infrastructure and commitment to collaboration has drawn visionary companies and entrepreneurs from across the globe to join its living lab environment accelerating economic growth and opportunity across health and life sciences, education, hospitality, and sports and performance. Lake Nona's attractive business ecosystem is enhanced by a thriving cultural landscape defined by iconic architecture and engaging public art installations, miles of trails and walkable green spaces, weekly signature events, shopping, dining and entertainment options set amongst Central Florida's beautiful natural landscape and year-round sunshine.

For more information, visit www.lakenona.com.