The Sydell Group has moved to new offices at 41 Madison Avenue, 25th floor, New York, NY. Sydell will continue to manage day-to-day affairs on behalf of GFI Development Company with respect to The Ace Hotel New York, The Ace Hotel & Swim Club in Palm Springs and The NoMad Hotel. GFI Development Company will continue to manage the 470 Vanderbilt Avenue project and 144 North 8 Street project with assistance from Sydell.

Sydell recently formed a venture with Ron Burkle's Yucaipa Companies to acquire lifestyle hotels. We are pleased to share our new website with you which will provide insight into our new venture (www.sydellgroup.com).

We look forward to seeing you soon.

Andrew E. Zobler

Chief Executive Officer

SYDELL GROUP LTD.

Please note our new contact information:

Josh Babbitt: (646) 202-2663, jbabbitt@sydellgroup.com 

Jeremy Behmoaras: (646) 202-2665, jbehmoaras@sydellgroup.com 

Tanner Campbell: (646) 202-2667, tcampbell@sydellgroup.com

Luis Fabara: (649) 432-9958, lfabara@sydellgroup.com

Jake Lamstein: (212) 796-1500 x122, jlamstein@sydellgroup.com

Matt Livian: (646) 202-2662, mlivian@sydellgroup.com 

Jeremy Selman: (646) 202-2661, jselman@sydellgroup.com 

Alexis Senatore: (646) 202-2666, asenatore@sydellgroup.com

Mark Steenson: (646) 202-2664, msteenson@sydellgroup.com 

Andrew Zobler: (646) 202-2660, azobler@sydellgroup.com