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FOUR POINTS SHERATON SANTA MONICA TO REBRAND AS FOUR-STAR SHERATON DELFINA

-- Second Phase of $11 Million Renovation Underway --

Santa Monica, Calif. - The Four Points by Sheraton, Santa Monica, has launched the second phase of its major $11 million renovation. Under the management of the Kor Hotel Group, the hotel is repositioning from the three-star Four Points brand to a full-service, luxury four-star Sheraton hotel, officially joining Kor's distinctive portfolio of luxury boutique and flagged hotels.

"We have received great response from both business and leisure travelers who have already experienced our guestroom redesign and upgrades," said Kelly Fogarty, Director of Sales. "Once renovations are complete throughout the hotel, we will certainly be one of Santa Monica's leading properties with stylish, custom designed accommodations and four-star service, conveniently located only steps from the ocean."

The reinvented hotel lobby, lounge and fitness center debuted late 2004/early 2005, the new design reflecting the sophisticated urban chic style and relaxed beach attitude of the new guestrooms and suites that debuted Spring 2004. Redesigned in a palette of Espresso brown and Tibetan blue, the guest room appointments include contemporary Lucite lamps, textured leather headboards, Sweet Sleeper beds, flat-screen televisions, high-speed internet access and digital safes.

Sherton Delfina's Penthouse Ballroom - the only one of its kind in town - has also undergone significant upgrades and reconfiguration to increase meeting and event space and further enhance its sweeping ocean and coastline views. The pool area will gain a resort feel with the addition of cabanas, a teak deck and tropical landscaping, which guests will be able to view from the new poolside state-of-the-art fitness center.

The Four Points by Sheraton Santa Monica will convert to the Sheraton Delfina upon completion of the pool renovation scheduled for March 15, 2005.



The Kor Group is a privately held real estate development and management firm with investments primarily in hotels and multi-family real estate. Kor Hotel Group, the hospitality division of Kor, holds a diverse property portfolio and manages both its own assets and non-owned hotels under third-party management contracts. Kor Hotel Group's properties include Avalon Hotel and Maison 140 in Beverly Hills, Viceroy Santa Monica and Viceroy Palm Springs, Gateway Hotel Los Angeles Airport, Delfina in Santa Monica, Breakwater and Tides in South Beach, and Chamberlain, due to open in West Hollywood early 2005.