What is Posh? Posh Elegant, Fashionable, Stylishly Luxurious

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2 What is Posh? Posh Elegant, Fashionable, Stylishly Luxurious Posh is not like your normal hotel operations company. At Posh we treat each and every guest with a passion for service and an energetic spirit never before seen We are committed to excellence in all aspects of our operations, and we will prove that to each guest day each and every day.

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4 Scope of Work: Operations Operation and management plan Optimal Reservation System Implementation Guest Satisfaction reporting Secret Shopper Programs Annual Employee opinion surveys Risk Management Initiatives Month End Comparative reports Legal Management Pre-opening consulting Branding Analysis Concept Development Government Compliance Purchasing Inventory Management Crisis Management

5 Scope of Work: Sales & Marketing Weekly sales strategy Reward Programs Major Branding initiatives Market trending analysis Hotel segmentation reports Cross selling and lead referrals Advertising Direct Sales Sales Training

6 Scope of Work: Financial Revenue Management Profitability Assessment Monthly financial performance Daily, weekly, monthly, and annual budgets and forecasts Internal accounting audits Centralized revenue management Cash Flow analysis Operations budget

7 Scope of Work: Human Resources Recruitment Job Placement Employee Benefit Management Employee Training and development Health and Safety Education Disciplinary Procedures Employee Morale programs

8 Scope of Work: Technology E-commerce training Web site design and Management Search engine optimization Reservation systems Sales and marketing support Presentation Technology

9 Scope of Work: Food and Beverage Cost & Inventory Controls Concept development and branding Menu Planning & Design Purchasing Programs Promotion & Advertising Quality & Service Initiatives Sanitation Health & Safety Education

10 Personalization When a guest checks into any of our hotels they will be entered into The Posh Club This will keep track of preferences of each guest Personal Preferences Room Service Flowers Laundry Complaints/Comments Rewards The Posh Club will help the guests feel more comfortable, with personalized service and care It will help staff know what to provide specific guests and a way to help guests feel special

11 Posh Hotel Group The Bankhurst Group has assembled a senior management team of top hotel executives for the exciting new launch of Posh Hotel Group. Posh will be at your direct disposal focusing on the success of your property. With offices in Miami and Las Vegas, our team will have constant supervision of the property allowing them to locate and optimize revenue maximizing potential throughout the property Posh Hotel Group plans to target boutique, independent, and branded properties throughout North America, with initial emphasis on Florida and the Caribbean. Posh Hotel Group will be able to provide a full suite of operational, marketing and sales services, plus the added advantage of providing design, development and project management expertise.

12 Advantages Posh Hotel Group will act as the Owner s exclusive agent to oversee and direct the day to day operations of the property Posh Hotel Group will hire, train, and supervise hotel managers and other personnel; determining wage rates, employee benefits, and hotel labor policies in general.

13 Advantages Cont. Posh Hotel Group, through its aggressive growth and continued addition of properties across United States, will utilize shared services throughout the properties in the local market spreading the cost of senior management and services including Sales Team, Regional Revenue Management, Engineering Teams, and Regional Management.

14 Marketing Posh Hotel Group will handle any and all third party vendor contracts and relationships We will utilize economies of scale as we target and grow our presence in the South Florida market to leverage our relationships with Vendors to achieve below market pricing on necessary services and supplies for all of our properties

15 Marketing Cont. Posh Hotel Group will oversee and the sales and marketing, advertising, promotion, and publicity relating to the hotel utilizing our in house chief communications and marketing officer. The Bankhurst Group President of Partnerships and Acquisitions is one of the top sales and marketing professionals in the hospitality industry with over 30 years of experience holding top level positions in both branding and management companies such as St. Regis and Regent

16 Financial Reviews Posh Hotel Group will provide periodic meetings to review the financial performance, projections, and operating policies of the property. Revenue Management Profit Loss Statements Monthly Inspections Internal and External Audits

17 Summary Terms Term of Management Agreement 5 Years Management Fee A Basic Management Fee of 2% of Gross Revenues from the operation of the hotel. Posh Hotel Group will earn an Incentive Management Fee equal to 5% of Net Operating Income (Gross Revenues minus Operating Expenses and the Owner Priority) Annual Operating Projections At least 30 days prior to the beginning of each year, Posh Hotel Group will submit to Owner and Annual Operating Projection estimating gross revenue, department profits, expenses and operating profit for the coming fiscal year. The Operating Budget shall be approved jointly by the Owner and Management Company

18 Summary Terms Cont. Performance Termination After the first full year of operations, The Owner shall have the right to terminate the Management Agreement if for any two consecutive years Gross Operating Income is less than 80% of the amount in the Annual Operating Projections and such short fall is not due to circumstances outside the control of the Posh Hotel Group. Termination on Sale If the Management Agreement is terminated during its term for reasons other than Posh Hotel Group s default or Owner s exercise of the Performance Termination provision, the Posh Hotel Group will be paid a termination fee equal to the Management fee earned in the most recent twelve month period multiplied by three. All other terms of the Agreement shall be customary industry standards.

19 Posh Hotel Group Terms Posh Hotel Group is projecting the addition of 4 properties in 2011, 6 in 2012, and 8 in 2013 with a total of 18 properties by 2013 and continued growth thereafter. At these levels we will utilize economies of scale for buying supplies, vendor contracts, senior management team, as well as purchasing FF&E and OS&E. We will target properties that are existing branded and independent hotels both nationally and internationally. New Development Conversions, Rebranding, and Repositioning assets Bank Receiverships