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SANDPEARL RESORT ANNOUNCED AS “PREFERRED HOTELS® & RESORTS” MEMBER

Preferred Hotel Group Adds the New Clearwater Beach Resort to its Roster


Clearwater Beach, FL- (5/30/2006) - The new Sandpearl Resort has been designated by the Preferred Hotel Group as a member of the "Preferred Hotels & Resorts" brand. The 253-room, eight-story luxury resort is currently being constructed on 700 feet of Gulf of Mexico waterfront on Clearwater Beach, Fla., and is slated to open in the spring of 2007.

Preferred Hotels & Resorts (www.preferredhotels.com) is a global brand uniting over 140 of the world’s finest and most distinctive independently owned luxury hotels and resorts, with a commitment to providing the highest standards of quality and service.

Every Preferred Hotel & Resort shares the same dedication to personal service, and must qualify for membership by adhering to Preferred Hotel Groups' Standards of Excellence™, an exhaustive quality assurance program that includes an annual, third party unannounced audit of 1,600 standards and practices and was honored with the "Best Practices Champion Award" by Cornell University.

Preferred Hotels & Resorts has consistently focused on travel agent and luxury travel partners to drive business to its independent properties; however in recent years, it has also placed a focus on group business.

"We are privileged to be a member of what we consider to be the finest collection of hotels and resorts in the world," said Lee Weeks, CEO of Coral Hospitality, the management company of the Sandpearl Resort. "Sandpearl will certainly benefit from the immediate recognition and positioning in the marketplace from discerning leisure travelers around the globe."

Preferred Hotels & Resorts is part of The Preferred Hotel Group, which services more than 300 luxury independent hotels and resorts in over 51 countries through its brands: Preferred Hotels & Resorts (www.preferredhotels.com), Summit Hotels & Resorts (www.summithotels.com), Boutique (www.preferred-boutique.com) and Sterling Hotels (www.sterlinghotels.com). The Preferred Hotel Group's website is www.preferredhotelgroup.com.

The Sandpearl Resort is being developed by JMC Communities (www.jmccommunities.com) of St. Petersburg, Fla., and is managed by Naples, Fla.-based Coral Hospitality (www.coralhospitality.com).

Coral Hospitality is a full service management company with a diverse portfolio of resorts, hotels, condominiums, private golf and tennis clubs and community associations. Currently managing a collection of 35 properties throughout Florida and Georgia, Coral operates each with a core belief in providing thoughtful service in unique surroundings.

Founded in 1978, JMC Communities is a Florida-based real estate development company specializing in premier waterfront residential properties that preserve and accentuate the state’s natural beauty and uniqueness. JMC Communities has developed more than 3,700 waterfront condominium homes in Florida, including many highly successful developments in the Gulf Coast area.

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