Rueda di Prensa

Rif Resort N.V

Marriott Hotel
22 di Sptmber 2015

Company L

Offer by this company was:

At Seller's option (a)
$15,000,000 or (b) $16,500,000
with $14,000,00 at closing and
2,500,000 on April 15, 2016

Company G

Offer by this company was:

$14,500,000

Company O

Offer by this company was:

$14,000,000

Total Capitalization
Company L
$50-$55 million, varying depending upon
Seller's choice of acquisition price

Company G
$19,5 million initial. $40 million total
Company O
$47,639,940

Summary of capital
plan
Company L
*Addition of 100 guestrooms
*Beach repair
*Additional parking and access
points
*Detailed project costs will be
developed post closing

Summary of capital
plan
Company G

*Full renovation of the Property's

guest rooms, bathrooms, public
spaces and address deferred
maintenance
*Implementation of a Club
Program/ Club Lounge, expansion of
the existing Emerald Lounge and
build out of dedicated Grab and Go
and retail outlets

Summary of capital
plan
Company O

*Addition of 48 guestrooms

Capital Plan time line

Company L

*Design and development process

to commence immediately upon
closing of the deal
*Renovations to be completed by
2015/2016 winter season,
*Detailed timeline provided via
email

Capital Plan time line

Company G

*24-30 months with the

majority of the renovation work
taking place within the first 1824 months.

Capital Plan time line

Company O

*Hotel will close for

approximately 14 months
during renovations.
*Full timeline provided

Employment Overview
Company L

*Renovation and expansion of

hotel expected to employ 250
workers
*Completed hotel expected to
employ 500

Employment Overview
Company G

*Outside of casino operation, does not

expect to materially alter the number of
FTE's
*With regard to the Casino operation, it is G
preference to remove Marriott as operator
and bring in a 3rd party operator to take
over the outlet. This would result in
termination of all employees allocated to the
casino and G would not be certain as to the
hiring process of the new 3rd party operator.

Employment Overview
Company O

*After full renovation, Hotel will

employ 215 hotel employees and
41 casino employees (256 total
employees)

*Full breakdown provided.

Letter of Marriott Confirming approval as buyer

Company L
Yes
Company G
Yes
Company O
In the progress of obtaining

Proof of Funds

Company L
Yes CITI bank
Company G
Company G would like to discuss
Company O
None Submitted

Besluit raad van minister

Winning bid goes to:

Company O

Marriott FF&E escrow

In millions

Contribution to Date
Expenditures
(14,019)
Disposals
175
Interest
329
Closing
1,989

15,507

Thank you