Kerzner International Limited marked the Americas launch of the One&Only
brand today with the official debut of Los Cabos` renowned Palmilla as the
One&Only Palmilla. One&Only Palmilla marks Kerzner`s entry into the Mexico
market, transforming one of the best known properties in the Los Cabos
region into an unparalleled six-star deluxe destination, a crowning gem in
the One&Only Resorts brand.

Kerzner, known worldwide for its ultra-luxurious hotels and resorts in
exotic locations, launched the One&Only brand in Europe in late 2002. The
brand portfolio currently includes One&Only Le Saint Geran and One&Only Le
Touessrok, both in Mauritius and consistently ranking among the top hotels
in the world; One&Only Kanuhura in the Maldives; One&Only Royal Mirage in
Dubai, and One&Only Ocean Club in The Bahamas, which became part of the
One&Only collection in 2003. As part of the continued effort to grow the
resort portfolio, Kerzner currently has One&Only properties under
development on the island of Kaafu Atoll in the Maldives, and in Capetown,
South Africa.
Created exclusively for the luxury resort market, One&Only properties are
set in some of the most beautiful locales in the world, each offering
guests a distinctive style and personality born of its local culture, yet
with a consistency of superlative service, genuine hospitality and a
lively energy.

“When it comes to developing new hotels, we do not apply a standard
formula,” said Kerzner International Chairman Sol Kerzner. “One&Only is a
guarantee that each of our hotels will provide a distinctive and unique
experience. At the same time, each hotel is underpinned by unbelievable
locations, design and attention to detail. One&Only Palmilla is in keeping
with our tradition of developing some of the finest properties in the
world. We believe that this resort, once experienced by travelers, will
serve as a second flagship for the One&Only brand, opening an untapped
market and providing a choice on both coasts of the Americas,” he added.

Kerzner acquired a 50% equity interest in 2002 and entered into a long-
term management contract in the One&Only Palmilla, which has been a
favorite retreat for Hollywood celebrities and luxury travelers alike
since it originally opened in 1956. The property was closed in April 2003,
in order to begin the renovation of the property.

“We are very excited about our first venture in Mexico and particularly
excited to be in Los Cabos, on one of the most amazing pieces of property
in the world,” commented Butch Kerzner. “We are pleased to bring the
One&Only concept to Mexico, and we believe that we can contribute to
Mexico`s growing tourism industry, which attracts approximately 20 million
visitors per year. Mexico is an ideal destination for our investment given
its proximity to the United States, its mature tourism infrastructure and
tradition and its established investment framework,” he added.

One&Only Palmilla is situated on a 250-acre portion of a 900-acre,
master-planned community that includes the resort, a 27-hole Jack Nicklaus
signature golf course, and eight residential communities set alongside
spectacular shoreline. The property underwent an extensive rebuilding and
renovation, which considerably upgraded the facilities and services to
welcome a new generation of travelers. Among the additions is a fine
dining restaurant, “C,” by acclaimed American chef Charlie Trotter, and
designed by internationally renowned interior designer/architect Adam
Tihany. One& Only Palmilla`s reconstruction brings the resort`s total
guest accommodations to 172—all with magnificent views of the Sea of
Cortez. Chef Trotter oversees the resort`s room service. The One&Only Spa
with 13 Baja-landscape-inspired private treatment villas also enhance the
One&Only Palmilla experience.

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