ORLANDO, Fla. - July 23, 2002 - The Caribe Royale All-Suites Resort & Convention Center is looking beyond the currently soft economy with a solid investment in the future�a $30 million expansion to its Grand Caribe Convention Center that will more than double its meeting and convention space.

A 40,000-square-foot ballroom, the Grand Sierra, is the centerpiece of a project that will take the property from its current 65,000 square feet to more than 150,000 square feet of flexible meeting space.

Site preparation is complete, and construction is underway.  The schedule calls for completion in the fall of 2003.

�We�re optimistic about the meetings industry,� said General Manager Eric Rosenbaum.  �We�re expanding our capabilities to serve even more meetings while maintaining our resort atmosphere.  Planners and attendees alike enjoy our Caribbean design and feel.�

The Caribe Royale opened in 1996 with 1,218 guest suites arranged in three towers and 120 two-bedroom suites in four villa buildings.  It added the first phase of the Grand Caribe Convention Center in 1998 and with the expansion becomes Orlando�s fifth largest meetings resort.

�We have an extremely nice blend of meeting clients and true resort guests.  Expansion of the Grand Caribe Convention Center is a credit to the meetings market and to our belief in its strength in Central Florida,� said Scott Flexman, Director of Sales and Marketing. �The layout of our property, our full-service capabilities and the all-suites nature of our guestrooms make us very appealing to meeting planners.�

Concurrent with the convention center expansion is a major enhancement of Caribe Royale�s restaurant operations.  It is adding The Venetian Room, a fine-dining restaurant featuring a Northern Italian menu, and completely renovating its Tropicale Restaurant, which will expand its service to breakfast, lunch, and dinner. The Venetian Room and Tropicale projects will be completed this fall.

In addition to the 40,000-square-foot Grand Sierra Ballroom, the expansion includes 20 breakout rooms with 1,000 square feet each.  The Grand Sierra Ballroom can be configured to create spaces ranging from 2,300 square feet to the full 40,000 square feet, and the breakout rooms can be configured into spaces with up to 4,000 square feet.  A pre-function space of approximately 15,000 square feet serves the ballroom and meeting room area.

Existing facilities at Caribe Royale include the 26,000-square-foot Caribbean Ballroom, the 6,000-square-foot Martinique Ballroom, 16 breakout rooms and three executive boardrooms.

�Our 120 two-bedroom luxury villas are an additional asset.  Creative meeting planners have used the villas for training programs, product introductions and breakout sessions for small groups,� Flexman said.

The Caribe Royale expansion is designed by Helman Hurley Charvat Peacock/Architects, Inc. (HHCP), of Maitland, Fla.  Among HCCP�s design credits are the Orlando Science Center, three phases of the Orlando-Orange County Convention Center and Shamu Stadium at SeaWorld Orlando.

WELBRO Building Corp. in Maitland is the general contractor, and Peninsula Engineering, Inc., in Orlando is the mechanical, electrical, plumbing contractor.  Among WELBRO�s projects is the RDV Sportsplex in Orlando, site of the practice and training facilities for the NBA Orlando Magic and the WNBA Orlando Miracle.

Caribe Royale, an independently owned property, is in the Lake Buena Vista area of Orlando.  It is 12 miles from the Orlando International Airport and within five minutes of Walt Disney World and 10 minutes of SeaWorld Orlando and Universal Studios Florida.