The Condo Boutique Hotel Palacio for Investors: Location:

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1 The Condo Boutique Hotel Palacio for Investors: The concept of the condo hotel is relatively new and should not be confused with time-sharing but should be thought of more like purchasing a second home or a vacation retreat. At this time, the Condo Hotel Palacio is the only hotel offering this investment opportunity in Santo Domingo's Colonial District. With the condo hotel concept, the hotel condos are sold to individuals who may then use the property whenever they wish. When not using the condo, the owner has the option of renting the property out using the hotel's rental program for whatever time the owner specifies. This can be either for a short-term or for long-term rental. The unit will be under hotel administration and the hotel will oversee maintenance and upkeep, market the unit, provide housekeeping and concierge services, and operate the front desk. Rental revenues, in general, are divided 60:40 between the owner and the hotel. This, however, is negotiable depending on length of rental time or other circumstances. If a condo owner wishes to rent out the property without hotel management, this can be done. However, one then loses the benefits of having onsite professional management dealing with renters. Location: The Boutique Hotel Palacio is located in the historical Colonial District of Santo Domingo, capital of the Dominican Republic and oldest city in the Western Hemisphere. Its quiet elegance and Spanish colonial décor have made The Palacio Hotel a favorite for travelers and members of various diplomatic missions and foreign embassies. Here in the kilometer square Colonial District are numerous structures dating back to the 1500s when Santo Domingo was the commercial and cultural hub of Spain in the New World. The Colonial District is bordered on the south by the Caribbean Sea and the Ozama River on its eastern perimeter. The principal shopping street of the district, El Conde, runs the entire length of the colonial area from west to east and is only a few feet from the Hotel Palacio. The beaches of Boca Chica and Juan Dolio are 30 minutes away and the luxury resorts of La Romana and Punta Cana some two hours. Home - About - Prices - Plans - FAQ - Contact - Download the brochure Powered by: SSDGM

2 The Condo Hotel Palacio's Design: The Condo Palacio Hotel is composed of three adjoining sections. The first section dates from In 2004 an addition of four floors and 33 rooms was completed. At the present time, another addition of four floors is under construction. The structure from 1800 will remain solely as a hotel and its units are not for sale. The décor throughout all three structures is in keeping with the Spanish colonial heritage of the Colonial District. In the addition of 2004, there is a large terrazzo and bar. A small pool and gymnasium are located on the 3rd floor. Two elevators and a generator serve the building. Many of the rooms have connecting doors or a connection can be made if desired. Ownership of connecting units offers certain advantages. Apart from increased space, either one or both units could be rented out. Prices of the units are determined by size and location. In the addition of 2004, a unit of sq. ft. (25.30 sq. meters) is $98,470. Units here are also available with areas of up to 700 sq. ft. (65.5 sq. meters). In the building now being constructed, the investor has considerable flexibility in that until March 2006 he can specify the desired area of the unit and other modifications. Investors will not be restricted as to the number of units they may own. For additional information regarding investing in the Condo Boutique Hotel Palacio, please contact our manager or by at: hotelpalacio@firstcaribbeanhotels.com Yours truly, The Management of the Boutique Hotel Palacio Home - About - Prices - Plans - FAQ - Contact - Download the brochure Powered by: SSDGM

3 Price list for apartment units in the Boutique Hotel Palacio:» Second floor: Unit 6 and 7 selling together only Each unit has his own title of property Ceiling height in the room: feet Ceiling height in the bathroom: 8.10 feet Total sq. feet 633,39 221, US$ Unit 8 and 9 selling together only Each unit has his own title of property Ceiling height in the room: feet Ceiling height in the bathroom: 8.10 feet Total sq. feet 686,48 Terrace in front of unit 9: sq. Feet 247, US$» Third floor: Unit 17 and 18 selling together only Each unit has his own title of property Ceiling height in the room: feet Ceiling height in the bathroom: 8.20 Total sq. Feet:633,39 255, US$ Unit 19 and 20 selling together only Each unit has his own title of property Ceiling height in the bathroom: 8.20 Ceiling height in the room: feet Total sq. feet: 686,48 264,150.oo US$ One bathroom of each double unit can be changed to a kitchen.» Fourth floor: Unit 26 Ceiling height in the room: feet Ceiling height in the bathroom: 9.30 feet Total sq. feet: sq. feet Terrace: sq. Feet 229, US$ Unit 27 and 28 selling together only Each unit has his own title of property Ceiling height in the room: feet Ceiling height in the bathroom: 8.20 Total sq. feet: 686,48 290, US$ One bathroom of each double unit can be changed to a kitchen. One bathroom of each double unit can be changed to a kitchen. Unit 15 Room inclined ceiling height: to feet Bath room Ceiling height 8.50 feet Total sq. feet: , US$ Unit 16 Room inclined ceiling height: to feet Bath room Ceiling height 8.50 feet Total sq. feet: , US$ Price list for apartment units in the Boutique Hotel Palacio:» Block B under construction

4 » Second floor: All Ceiling height in the rooms: feet / 3.54 mtr Ceiling height in the bathrooms: 8.10 feet/ 2.52 mtr Unit 10 Total sq. Feet: / 37,76 mtr. 141, US$ Unit 11 Total sq. Feet: 365,19 / 33,94 mtr. 129, US$ Unit 12 Total sq. feet: 291,05 / 27,05 mtr 102, US$ Unit 13 Total sq. feet: / 25,72 mtr. 97, US$ Unit 14 Total sq. feet: / 28,99 mtr 110, US$» Third floor: All Ceiling height in the rooms: feet / 3.54 mtr Ceiling height in the bathrooms: 8.10 feet/ 2.52 Unit 21 Total sq. Feet: / 37,49 mtr 155,433 US$ Unit 22 Total sq. Feet: / 43,05 mtr 178,465 US$ Unit 23 Total sq. feet: / 37,13 mtr 153,940 US$ Unit 24 Total sq. Feet: 373,56 / 34,75 mtr 144,073 US$» Fourth floor: All Ceiling height in the rooms: feet / 3.54 mtr Ceiling height in the bathrooms: 8.10 feet/ 2.52 mtr Unit 29 Total sq. Feet: 403,01 / 37,49 mtr 170,991 US$ Unit 30 Total sq. Feet: / 43,05 mtr 196,351 US$ Unit 32 Total sq. Feet: 373,56 / 34,75 mtr 158,494 US$ Unit 31 + Mesanine Unid 31Total sq. feet: / 37,13 mtr 169,349 US$ Mesanine Total sq. Feet / 49,0 mtr 224,629 US$ Unit 25 Total sq. feet: 339,04 / 31,51 mtr 116, US$ Unit 33 Total sq. feet: / 35,09 mtr 129, US$ * Prices valid until Monthly Maintenance for Apartment Units Include: Cleaning of common area, Electricity of common area, Security, Trash, Water ( hot and cold ) = US$ per mtr 2 de Living area = US$ per mtr2 terrazzo and balcony Standard Room cleaning = 7.50 US$ per Cleaning Superior Room cleaning including curtains = US$ per Cleaning Rates valid until 12 / 2006 Electricity paid by meter - using the private home city / area rates per kilo + 5 % for diesel difference / generator. Hotel Garage per day = 5.00 US$ Hotel Garage per week = US$ Hotel Garage per month = US$ Hotel Garage Rates valid until Internet connection DSL (1) = US$ per month Hotel Cable TV = US$ per month Telephone ( via reception hotel line ) = US$ per month* Private Line from Hotel = US$ per month* * calls not included Local calls = 0.08 US$ per minute Long distance USA = 0.45 US$ per minute Long distance Europe = 0.95 US$ per minute Calling cards = 1 minute local flat rate.

5 Rates can change depending on any increases by telephone or cable company. Home - About - Prices - Plans - FAQ - Contact - Download the brochure Powered by: SSDGM

6 Plans:

7 Plans Block B - under construction:

8

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10 Boutique Hotel Palacio FAQs: The Condo Hotel concept is a relatively new investment strategy. Here are some of the questions most often asked. 1. What exactly is a Condo Hotel? 2. What benefits does the condo owner enjoy? 3. What is the responsibility of the condo hotel management? 4. How much revenue will the condo owner receive from the rental of the unit? 5. What percentage of rental revenues is received by the hotel for its administrative services? 6. What about Credit Card and Travel Agent commissions? 7. What is the owner's obligation to the hotel regarding owner occupancy of the unit? 8. Can condo owners rent the unit out themselves and keep all of the income from the rental? 9. Will the hotel guarantee rental of the condo under the rental plan? 1) What exactly is a Condo Hotel? In the Condo Hotel, units are sold to the individual investors who may use their units whenever they wish. When not staying in the unit themselves, the owners can use the hotel rental plan in which the hotel will manage the unit while providing housekeeping, maintenance, and other services. Revenues received from this plan are divided between the owner and the hotel. 2) What benefits does the condo owner enjoy? Ownership of a condo unit permits the owner to enjoy a trouble-free vacation home. When renting out the property, the hotel management oversees maintenance, upkeep, and housekeeping. As a condo owner, you can sell the property at anytime you wish. A condo hotel is both a vacation home and an investment having the potential for appreciation. 3) What is the responsibility of the condo hotel management? Hotel management will market the unit, operate the front desk and take reservations, oversee maintenance of the property and provide those amenities expected in a hotel such as housekeeping and concierge. 4) How much revenue will the condo owner receive from the rental of the unit? The owner will receive 60% of the rental revenues. There is some flexibility here depending on the length of the rental and/or other circumstances. 5) What percentage of rental revenues is received by the hotel for its administrative services? The hotel receives 40% of rental income for its management services. 6) What about Credit Card and Travel Agent commissions? These are divided 50/50 between the owner and the hotel. 7) What is the owner's obligation to the hotel regarding owner occupancy of the unit? The hotel and owner will agree on notice requirements regarding the time period in which the owner wants the hotel to manage rental of the unit. 8) Can condo owners rent the unit out themselves and keep all of the income from the rental? Yes. However, the disadvantage is that they then lose the benefits of hotel management of their unit. Participation in the rental program usually gives the owner increased rental income as use is made of the hotel's international affiliations, advertising, its expertise in management, and its reservation system. 9) Will the hotel guarantee rental of the condo under the rental plan? No, it will not. To do so would possibly be in violation of federal or state law. The Boutique Hotel Palacio emphasizes the attraction of the location, the benefits to the investor of its rental plan, and its expertise in hotel management. One should think of the purchase of a condo unit as similar to that of a vacation home. If it is a building of quality in a desirable location, it is probable that it will appreciate over time. An additional benefit is the revenue derived from participation in the rental program. This material is given for informative purposes and is not legally binding. All information is subject to change.

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12 Contact:» Address : Calle Duarte 106 esq. Salome Ureña, Ciudad Colonial, Santo Domingo Republica Dominicana, Tel.: ( 809 ) Fax : » hotelpalacio@verizon.net.do hotelpalacio@firstcaribbeanhotels.com Home - About - Prices - Plans - FAQ - Contact - Download the brochure Powered by: SSDGM