The Ritz-Carlton Hotel Company, L.L.C. Set to Open a Ritz-Carlton Reserve on Pearl Island

 The Ritz-Carlton Hotel Company, L.L.C. Set to Open a Ritz-Carlton Reserve on
                                 Pearl Island

Private Island Resort Experience Blending Seclusion, Sophistication and
Unspoiled Natural Beauty 2016 Projected As Opening Date

PR Newswire

PANAMA CITY, Oct. 8, 2013

PANAMA CITY, Oct. 8, 2013 /PRNewswire/ -- The Ritz-Carlton Hotel Company,
L.L.C. is expanding its collection of Reserve hotels with plans to open a
luxury sanctuary on Pearl Island, a private island situated 45 miles south of
Panama City. An exclusive leisure experience that blends intuitive individual
service, exquisite indigenous design, and luxuriously relaxed ambiance, the
resort is the sixth planned Reserve property, joining current locations in
Phulay Bay in Thailand and Dorado Beach in Puerto Rico, and upcoming locations
including Molasses Reef in Turks and Caicos, Tamuda Bay, Morocco and Cabos San
Lucas, Mexico, among several projects slated for the near future.

Surrounded by pristine beaches, one of the most bio-diverse marine
environments on the planet, sublime azure waters and virgin tropical forests,
and enlivened by hundreds of species of indigenous flora and fauna, the
centerpiece of the Reserve will feature an open-air resort offering 80
intimate rooms, and a range of select luxury amenities and exceptional
services to include a lavish spa, private beach club, three swimming pools and
three restaurants, as well as access to a world-class marina, dive and fishing
village and equestrian center. The spa will include outdoor treatment
pavilions and separate tree-top villas, all of which will incorporate
indigenous treatments in a lush remote setting.

Capturing the striking character of Pearl Island, one-and two-story villas
situated on the beach reveal oceanfront views, all boasting oversized
guestrooms with private plunge pools, spacious outdoor private terraces, and
the expansive Signature Suite, a standalone private oasis spread along the
coastline. For executive retreats, the property will feature a
1,800-square-foot function pavilion and boardroom with ocean views.

Reachable by boat, helicopter or plane through a private airstrip, Pearl
Island is a virtually untouched paradise featuring an extensive private
natural reserve with over half of the island undisturbed. Located in the Gulf
of Panama on the Pacific Ocean, minutes from Panama City, the 3,500 acre
private island is the third largest in the Archipelago of Las Perlas. Co-owned
by Dolphin Capital Investors and Grupo Eleta, the island is one of
approximately 250 different islands inhabited by fishing communities
throughout the archipelago.

"With an abundant forest environment and stunning beaches with a premium on
privacy, Pearl Island is a perfect site for the Reserve experience. Guests
will enjoy an exclusive and secluded private location, with a wealth of
recreational options to choose from," said Herve Humler, president and chief
operating officer, The Ritz-Carlton "Pearl Island is a destination that our
discerning customers will find extremely appealing, with the coastal serenity
and unspoiled natural attractions offering our guests the beauty and privacy
they seek in an exclusive getaway experience," added Humler.

Populated by an extraordinary collection of exotic natural life, Pearl Island
is home to a remarkable 150-species bird sanctuary, one of the greatest in the
world, including a vast population of migrating pelicans, 700 species of fish
and 15 species of coral that fill the surrounding waters, in addition to 16
species of mammals, sea turtles, and whales that visit the island for a great
part of the year. Through an environmental stewardship program, Pearl Island's
abundant environmental diversity and recently uncovered 6,000-year
archaeological relics will remain forever protected by world-class sustainable
planning and establishment of the Island Foundation, a not-for-profit
organization to ensure that its natural treasures remains preserved for future

"We are honored to partner with The Ritz-Carlton in bringing a premium Reserve
property to the stunning untouched private island of Pearl Island. It will be
the reality of a vision that was inspired by the natural beauty and historical
legacy that we wanted to preserve," said Pierre Charalambides, Founding
Partner of Dolphin Capital Investors. "We are delighted to be able to offer
such an exquisite place that truly pays homage to the unspoiled heritage
around which it is built. We are pleased to have signed with The Ritz-Carlton
as our management company of choice, a globally luxury brand leader that
should establish Pearl Island as one of top luxury resort destinations in
Latin America," added Guillermo de Saint Malo Eleta, CEO of Grupo Eleta.

To ensure the island remains unspoiled, approximately 70 percent of the
acreage will stay permanently undisturbed. Stringent development guidelines
will result in minimal environmental impact through state-of-the-art
engineering and environmental sciences, as well as sustainable practices for
water, energy, waste, and transportation. The architectural integrity of the
island will be maintained through a series low low-density villages and
distinctive sustainable architecture showcasing a harmonious blend of
location, style and finishes.

"We are thrilled to forge this partnership with Dolphin Capital Investors and
Grupo Eleta, who are developing this remarkable project," said Laurent de
Kousemaeker, chief development officer, Caribbean & Latin America, The
Ritz-Carlton Hotel Company, L.L.C. "It has been years in the making and we're
so pleased to have reached an agreement to make this private sanctuary a
future Reserve property," he added.

The developers of the Reserve are also creating a collection of Ritz-Carlton
Reserve branded Residences which will be available for sale during the
construction phase. Designed in the same unique architectural style of the
resort, each privately owned three to four bedroom Residence will offer
exquisite design and a one-of-a-kind luxury experience for owners.

Ritz-Carlton Reserve is a complete escape to the unexpected – a private,
exclusive travel experience blending unique elements of the local culture,
history, heritage and respect for the environment. For the most discerning
travelers seeking a personalized and luxurious escape, Reserve properties are
tucked away in the most exquisite corners of the world, featuring chic,
relaxed and intimate settings that weave indigenous flavors with highly
responsive and individualized service.

About The Ritz-Carlton Hotel Company, L.L.C.
The Ritz-Carlton Hotel Company, L.L.C. of Chevy Chase, Md., currently operates
80 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the
Caribbean. More than 30 hotel and residential projects are under development
around the globe. The Ritz-Carlton is the only service company to have twice
earned the prestigious Malcolm Baldrige National Quality Award which
recognizes outstanding customer service. For more information, or
reservations, contact a travel professional, call toll free in the U.S.
1-800-241-3333, or visit the company website at The
Ritz-Carlton Hotel Company, L.L.C. is a wholly owned subsidiary of Marriott
International, Inc. (NYSE: MAR)

About Dolphin Capital Investors Ltd.
Dolphin ( is a leading global investor in the residential
resort sector in emerging markets and one of the largest real estate
investment companies quoted on AIM of the London Stock Exchange in terms of
net assets. Dolphin seeks to generate strong capital growth for its
shareholders by acquiring large seafront sites of striking natural beauty in
the eastern Mediterranean, Caribbean and Latin America and developing
sophisticated leisure-integrated residential resorts. Since its inception in
2005, Dolphin has raised approximately US$1.3 billion of equity, has become
one of the largest private seafront landowners in Greece and Cyprus and has
partnered with some of the world's most recognised architects, golf course
designers and hotel operators. Dolphin's portfolio is currently spread over
approximately 63 million m^2 of prime coastal developable land and comprises
14 large-scale, leisure-integrated residential resorts under development in
Greece, Cyprus, Croatia, Turkey, the Dominican Republic and Panama. (AIM: DCI)

About Grupo Eleta
Grupo Eleta was founded by Fernando Eleta A., a renowned Panamanian
businessman with extensive local and international business experience.
Fernando, educated in Stanford and MIT, served as Secretary of Treasury,
Minister of Foreign Affairs, founding governor of the Interamerican
Development Bank (IDB), diplomat and also throughout his life was an active
entrepreneur and founder of several associations and many civic institutions.
Grupo Eleta employs more than 1,500 individuals and its primary holdings
include interests in telecommunications, energy, tourism and real estate
ventures The group is headed by CEO Guillermo de Saint Malo Eleta and also has
investments in banking, insurance, coffee production and export, thoroughbred
racehorse breeding, and animal feed manufacturing.

SOURCE The Ritz-Carlton Hotel Company, L.L.C.

Contact: Verona Carter, Area Director of Public Relations, Caribbean & Mexico,
Tel: (786) 470-3434,
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