CORRECTING and REPLACING CAPTION Nikki Beach Accelerates Worldwide Growth

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

“Through the years, our guests have enjoyed sharing our unique beach club experience with family and friends. Now, we are responding to their requests by opening beautiful new boutique hotels and resorts around the world.”

The release reads:

NIKKI BEACH ACCELERATES WORLDWIDE GROWTH

To capitalize on a rebounding global travel market, Nikki Beach is expanding its worldwide hospitality portfolio with 10 new projects totaling $400 million now in the pipeline in Europe, Africa and the Middle East.

“Nikki Beach is all about the celebration of life,” said owner Jack Penrod, who founded the Miami Beach company in 1998. “Through the years, our guests have enjoyed sharing our unique beach club experience with family and friends. Now, we are responding to their requests by opening beautiful new boutique hotels and resorts around the world.”

Building on the remarkable success of its 13 beach clubs in glamorous worldwide destinations, including the 2009 opening of the Thailand Nikki Beach & Bungalow on the island of Koh Samui, Nikki Beach is now focused on the luxury resort segment. In the next three years, the company’s Hotel and Resort Division expects to complete nearly 1,000 rooms in new territories identified more than a decade ago as jet-set destinations suitable for the five-star Nikki Beach brand.

A strong and growing hotel and resort operator, Nikki Beach now manages properties in 12 countries around the world, according to Sary Arab, chief operating officer, Nikki Beach EMEA Hotels & Resorts Ltd., which is based in Europe and the Middle East. “We are excited to lead the natural evolution of our global lifestyle brand into the luxury boutique segment,” Arab said.

Working with local development, architectural and construction partners Nikki Beach has new hotel projects planned for appealing Middle East and Mediterranean coastal locations, as well as the Cape Verde Islands, and Amsterdam. “We are expecting an upswing in high-end travel and our construction and development plans are well-timed to take advantage of that trend,” added Arab.

The next new Nikki Beach resort is scheduled to open in 2012 in Qatar on The Pearl, a Riviera-style island in the Persian Gulf. The Pearl, Nikki Beach Resort & Spa will be a boutique beachfront resort with 47 luxury villas and spa suites in the United Arab Emirates. Other Nikki Beach resorts now in development are scheduled to open in 2012-14 in Cypress, Greece, Egypt, Jordan, Croatia and the Cape Verde Islands.

Noting that Nikki Beach is a family owned business, Penrod said, “We have built strong, long-lasting relationships with our guests through the years. Now, we can offer them these attractive hotel and resort options that expand on our beach club experience and take Nikki Beach to a whole new level.”

Since its founding on Miami Beach, Nikki Beach has set the standard for an outstanding beach club experience and is now the premier worldwide luxury brand synonymous with jet set travel, leisure and entertainment. For more information, visit www.nikkibeachhotels.com.

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