CORRECTING and REPLACING CAPTION KUD International Developed Waldorf=Astoria to Open

ORLANDO, Fla.--(BUSINESS WIRE)--Please replace the caption with the accompanying corrected caption.

“This is the first new Waldorf=Astoria hotel to be built in 78 years”

The release reads:

KUD INTERNATIONAL DEVELOPED WALDORF=ASTORIA TO OPEN

The Bonnet Creek Resort adjacent to Walt Disney World, featuring a 500-room Waldorf=Astoria, a 1,000-room Hilton Hotel and a Rees Jones signature golf course, celebrates its grand opening November 12.

The 428-acre project, developed by KUD International LLC, headquartered in Long Beach, Calif., (http://www.kudllc.com) also features a 249,000-square-foot conference center and a 25,000-square-foot Guerlain spa.

“This is the first new Waldorf=Astoria hotel to be built in 78 years,” said Dennis Biggs, executive vice president of KUD International. “Bonnet Creek is a milestone for both KUD International and Hilton Hotels. We are proud to be associated with such an important addition to Orlando.”

Biggs said the goal of the development team was to retain the majesty of the New York Waldorf=Astoria, while simultaneously creating a hotel that functions well as a destination conference center in a resort setting.

“And we did it,” Biggs said. “It’s beautiful.”

Key elements of the Manhattan Waldorf=Astoria were recreated in the new hotel at the Bonnet Creek Resort, including Sir Harry’s, the Bull and Bear, Peacock Alley, Oscar’s and the famous lobby clock.

The new 1.8 million square foot hotel complex also features amenities such as the Guerlain Spa, a 40,000-square-foot formal pool area, a 1.8 acre family water recreation area and a myriad of meeting and conference options -- including formal Board Rooms -- all overlooking the Waldorf=Astoria Golf Course and Clubhouse.

The KUD project team included Smallwood, Reynolds, Stewart and Stewart as the project architect, SFA Design as the interior designer for the Waldorf=Astoria and Duncan Miller Design as interior designer for the Hilton Hotel. The Hunt Construction Group was the Construction Manager for the hotels.

The development is owned by a consortium that includes GEM Realty Capital, and Bonnet Creek Ventures. Financing was provided by a team of lenders led by Calyon Bank New York.

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