Development

Planet Hollywood Towers by Westgate to Break Ground Thursday, Jan. 19

The Skyline Altering $750 Million 50-Story Tower is Latest Addition to the Sizzling Harmon Corridor and is Next Step in Planet Hollywood Brand Expansion

Planet Hollywood David A. Siegel, founder, president and CEO of Westgate Resorts, the world's largest privately held timeshare company, and Robert Earl, co-chairman of Planet Hollywood Resort & Casino, will break ground today on a 50-story luxury vacation ownership and condominium tower directly connected to the Planet Hollywood Resort & Casino complex on the world-famous Las Vegas Strip. The partnership brings together two recognized industry leaders committed to providing the highest quality vacation experiences to their guests.

The $750 million development will include more than 1,200 units, ranging in size from one to four bedrooms, increasing the hotel room inventory for the resort by 2,800 rooms. The top four stories of the Towers will be comprised of 28 luxury condominiums ranging in size from 4,000 square feet to 10,000 square feet, with prices starting at $4 million. The vision for the new Towers was to create a look that was both sleek and glamorous. The color palette is in keeping with the Planet Hollywood brand using red and blue accents to set off the soaring glass building.

The Towers, which will be located on the southeast corner of the complex, at the corner of Harmon Avenue and Audrey, is being designed by Gerald B. Koi, architect of the firm Morris Architects. The casual yet sophisticated interiors are being created by DiLeonardo International Inc., recognized worldwide for its achievements and innovations in the hospitality industry. Overseeing the construction is Bovis Lend Lease Americas, one of this country's largest construction managers.

"Planet Hollywood Towers by Westgate will dramatically alter the Las Vegas skyline. Its majestic lines will add grace to the Harmon Avenue corridor and I am especially proud that our development is located steps away from the Las Vegas Strip," said Siegel. "When completed in 2007, this will be the world's first vacation ownership resort directly connected to a major resort hotel and casino complex, complete with over 12 restaurants and luxury resort amenities, as well as a full-service shopping mall with over 140 stores. We believe that this fully self-contained resort environment will provide our 350,000 timeshare owners vacation experiences unavailable anywhere else in the world."

"I am thrilled that we are here to celebrate the groundbreaking of the Planet Hollywood Towers by Westgate. Westgate Resorts is one of the largest and most successful vacation ownership companies in the world, and this incredible building will dramatically increase guest traffic, room count and the overall Planet Hollywood Resort & Casino experience. I could not be more pleased to be working with David Siegel, a pioneer and visionary in the tourism industry," said Earl. "The development of this plot of land, coupled with the complete redesign of our facade and casino, and the agreement with the shopping mall on enhanced entrances, including access to the Planet Hollywood Towers by Westgate, has created a seamless and completely integrated resort complex. I would like to thank David Edelstein and Boulevard Invests for working diligently with us on integrating our collective properties."

Other unique features of the Planet Hollywood Towers by Westgate include:

-- Gross area of more than 3.2 million square feet including 2.3 million square feet of living space

-- 14,000-square-foot lobby and check-in area

-- 35,000 square feet of meeting and convention space, supplementing the resort's meeting space

-- 16,000 square feet of eclectic dining

-- 3,100-square-foot fitness center

-- 16,000-square-foot sales area

Outside amenities include a 40,000-square-foot elevated outdoor recreational pool area on the second level, and an exclusive 46th floor penthouse pool.



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