LUXURY HOTEL - RESIDENCES & VILLAS. 10/10/2014Documento confidencial © Kasâmia 20072 “Our vision is to be the leading serviced residence company with.

LUXURY HOTEL - RESIDENCES & VILLAS

11/04/23 Documento confidencial © Kasâmia 2007 2

““Our vision is to be the leading serviced residence company with a Our vision is to be the leading serviced residence company with a

global brand, products and services that set new industry global brand, products and services that set new industry

benchmarks.”benchmarks.” Jean-Robert Reznik, chairman


Welcome

One, two or three bedroom luxury suites

For short or extended stays

For business, relocation or leisure

In urban centres, on a white sandy beach or on a golf course…

Kasâmia invites you to a new brand of luxury business and

leisure residence hotels unlike anything else available,

providing the personality and style of a boutique hotel with the

reliability, comprehensive business and leisure services

you expect.

The only fully integrated luxury condo hotel chainThe only fully integrated luxury condo hotel chain

The Kasâmia Choice


Kasâmia is a global luxury lifestyle brand, founded in 2005 in direct response to a growing demand from property developers for professional, and above all innovative, management partners for hospitality projects. Kasâmia’s expertise in tourism and hospitality is invaluable to the real estate sector and the company works alongside architects and interior designers to make sure that the finished product is appealing to even the most demanding end user.

Kasâmia’s objective is to revolutionise the residence hotel market and make it exciting and enticing to both investors and overnight guests alike. Competitive pricing, stylish interior designs, five star facilities and services plus larger square metre sizes than hotel rooms are just some of Kasâmia’s standard ingredients.

Kasâmia has developed an unrivalled distribution network, both online and on the high street, to maximise occupancy rates, offers an extremely favourable revenue split with suite owners and routinely reinvests 4% of annual sales back into maintaining and preserving the asset.

Kasâmia’s apartment sales teams are represented on all major markets in the world, providing a direct insight on demand and enabling Kasâmia to adapt its sales packages rapidly. Kasâmia is developing worldwide, with 12 residences in development located in Europe, Asia and America Kasâmia aims to open 50 residences in the next five years in prime resort destinations and major city centres, preserving the same principles of excellence in terms of site selection, design and services.

About Us


Serviced ResidencesServiced Residences

“Europe is in a midst of a hotel transaction boom, with over Eur 16 billion of hotel real estate transacted in 2005. The high level of interest shown by existing and new entrants to the market has given rise to more innovative hotel investment structures.” Mark Wynne-Smith, CEO Europe for the Jones Lang LaSalle Hotels.Based on the increase in demand for Condohotels and serviced residences in Europe and positioning itself as one of the first operators in Europe, Kasâmia provides the investors with an extensive range of high quality to luxury products.

The Kasâmia formulas are very advantageous to the investors :

purchase of an asset, instead of the classical fractional ownership

higher income

benefit of use

high liquidity

higher potential of asset valuation

constant maintenance of the asset

Kasâmia develops a product that enables the investor to be part of the hotel industry through a low initial investment value and furthermore to benefit directly from the hotel’s management profitability program.

Having no administrative responsibility over their investment and being assured that it can be re-sold at any time (high liquidity), the investors will have access to several financial benefits while they enjoy their asset.

Why Kasâmia


is much more than modern luxurious residences, tailored-made

to their clients needs. Through a young and dynamic team and headed by its

president – with more than 38 years of experience, Kasâmia offers unique garanties

for the investors and clients.

The 5 Kasâmia pillars : a chain with innovative advantagesThe 5 Kasâmia pillars : a chain with innovative advantages

Profitability Use Security Transparence Maintenance

Kasâmia makes a difference


Kasâmia makes a difference – Profitability

Paying only for what is consumed and never

for general expenses will result in a more

competitive pricing.

GuestsGuests

Access to more than 6.000 travel agencies

and to a database of more than 18 million

british tourists will assure a maximization of

profitability.

InvestorsInvestors

Our experience enables a cost minimization

and profit maximization through assisting the

developers in each phase of their projects’

consturction.

DevelopersDevelopers


Kasâmia makes a difference – Use

Our serviced residences result from a large experience in the hotel

sector that will increase their comfort. GuestsGuests

Each investor has the right to 8 weeks annually without

additional charges.InvestorsInvestors

To the developers aiming to keep the common areas under their

management and ownership, we offer attractive commercial

solutions



Kasâmia makes a difference – Security

The mix of tourism experience and joint ventures with leading developers will make our serviced residences a desirable place to stay at.

GuestsGuests

Through our alliances wih leading developers, our projects assure maximum security to the investors.

InvestorsInvestors

Our exclusive partnerships provide us access to a database of 6 million prospects interested in investing in a second home.



Online reports : http://www.kasamia.com/onwerscorner

real estate market analysis

tourism trends

Kasâmia management performance

financial reports

dividend distribution

Kasâmia makes a difference – Transparence

We apply a transparent pricing policy which will ensure client satisfaction.

GuestsGuests

Our clients are also investing in a business and so all required information is at all times accessible online.

InvestorsInvestors

Following the confidence deposited on us by the developers we apply a complete transparent policy in profit statements, available at all times.

DevelopeDevelope

rsrs


Tailored to your needs, Looking out for your investment

Kasâmia makes a difference – Maintenance

Due to the maintenance policy of Kasâmia, clients will enjoy a high level of quality and comfort in our serviced residences.

GuestsGuests

To ensure the asset preservation, we apply 4% of the sales volume to FFE expenses.

InvestorsInvestors

The high levels of maintenance support will be an added-value for the developers’ brand image.

DeveloperDeveloper

ss

Kasâmia Design & Concept


Kasâmia furniture results from the perfect combination of design, comfort and luxury.

Minimum levels of furniture will result in the maximization of useful areas.

Kasâmia Interior Decor


Kasâmia à la Carte Services

Sales & Rentals

Room service

Booking services

Phone & Internet

Laundry

Pet Care

Make-Up & Facial Care

Car & Chauffeur ..

Insurance

In room Spa

BabySitting

Cleaning

Your wishes are our commandYour wishes are our command

Kasâmia creates a Concierge Key Desk Allocating all types of facilities using our “a la carte” services, whereby the clients are, only charged for what they use, and not for all that we offer.

Kasâmia Solutions

multi channel distribution


Distribution Force – GDS / IDS

Through an exclusive partnership with Amadeus (providing a client database of around 81.600 travel agencies), Kasâmia has access to the four existing GDS systems – enabling a total coverage of this reservation tool

GDS – Global Distribution Systems

IDS – Internet Distribution Systems

Kasâmia, aware that more and more clients reserve their vacations online, has signed agreements with more than 50 professional reservations websites, that account for more than 50% of the worldwide online reservation industry, such as:

•AAV Tours LLC•AB Plus Travel•Check-In.com•ASE Online Booking Service•Adavnced Reservation Systems•Agoda•Alliance Reservation Systems•EBookers

•Hotel Provider•Last Minute•Online Hotels•Opodo•Orbitz•Travel Web• .. • ..

•Arakea•Best Day Travel•BookIt•Classic Travel Service•CRS Hotels•Dan Travel•Destination Partners•Direct Hotels

•Expedia.com•Expotel•EZ Rez•GHRS•Hotel Key•GM Tour & Travel•Guest Click•Hotel Beds

http://www.amadeus.com/amadeus/x4846.html

http://www.sabretravelnetwork.com/

http://www.worldspan.com/index.asp


Distribution Force – Travel Agencies / Tour Operators

Created in 1999 by Jean-Robert Reznik and Philippe Demonchy, Alliance T aims to consolidate the distribution channels in the main European tourism markets.

Kasâmia – through an exclusive contract with Alliance T, establish direct access to more than 5.600 travel agencies spread among more than 10 European countries.

TA – Travel Agencies

TO – Tour Operators

travel agencies

Belgica174 España

1232

Francia976

Italia103

RTK (Tui)3075

Portugal90

Present in Belgium, France, Luxembourg, Germany, The Netherlands, Italy, Switzerland, Slovenia and Austria

Kasâmia, aiming to cover all kinds of reservation channels, has signed exclusive agreements with leading European Tour Operators targeting outgoing markets through only their luxury brochures.

http://www.world-of-tui.com/en/

Investing in the Kasâmia Concept

Profitability & Rights of Use


Kasâmia proposes to its investors a very attractive profitability program, based upon its distribution force (more than 5.600 travel agencies in Europe) – which will secure maximum levels of occupation rates.

This will generate a sales volume (turnover) from which the following expenses will be deducted…

- brand fees: 1.5%- management fees: 5.0%- FF&E: 4%- running cost (wages, stock, electricity …),

… leaving a Gross Operating Profit (GOP) out of which 10% will be served to the management company in order to insure convergence of interest between the owners and Kasâmia, leaving a residual of 90% to be split between the owners (pool division at pro rata).

Additionally, as a consequence of our on our “A la carte” key desk policy, most of the service offered in Kasâmia residences are subcontracted, enabling a strong fix costs minimization. Thus, we anticipate that the profit rate over costs will be around 50% - 55%.

Duration of Kasâmia management contracts normally vary from 10 to 15 years, with a minimum period of 6 years renewable.

Investor’s Profitability


Kasâmia Advantages for investors

Cost reduction based on our “a la carte” services where guests only pay for what they consume and not for what we offer.

Reduction of permanent personnel as they are subcontracted based on services requests.

Maximization of hotel capacities and constant search of unnecessary expenditures reduction.

Optimization of personnel work on a motivation and constant training basis.

Use of efficient consumption and high technology hotel machinery.

To ensure asset preservation, a 4% on the production is kept as FF&E reserve to reduce owners financial participation

Kasâmia, as management company, will apply its experience and techniques for obtaining the highest effectiveness and profitability in all our residences.

Actions as follows will make the difference in the Kasâmia management:


Investor’s Rights of Use & return on investment

2 seasons: High (15 june – july – august – 15 sept. – Easter – Christmas) – weekly value: 2Medium (rest of the year) – weekly value: 1

The investors may choose their rights of use from 3 packages and must notify their annual reservations before October 15:

a) 6 weeks (2 in high season + 4 in medium season) b) 7 weeks (1 in high season + 6 in medium season) c) 8 weeks (8 in medium season)

How to calculate one’s profitability share

(sales price)

= profitability ratio*

(sales volume)

* From where its profitability rate will be calculated

Profitability bonuses:

Investors who do not exercise their rights of use will benefit from the following bonus:

a number of points will be calculated for each investor by multiplying the number of free weeks by the correspondant weekly value.

e.g.

1 week in high season + 2 weeks in medium season = 4.5 points

a) A cumulative weekly value will be established from all owners (pool) and the number of points of each owner will be divided by the pool value.

b) The GOP value generated by the pool will be then calculated

(a) x (b) = Profitability bonus

How to calculate one’s profitability rate

(profitability ratio) x (GOP) = profitability rate


Up front commission, rising based on sales achieved.

Excellent annual commissions based on objectives.

An investment vehicle offering your clients capital growth with a yearly income.

For your clients, the resort is also an ideal holiday retreat with extensive facilities and five star concierge.

Kasâmia is headed up by Jean Robert Reznik, former CEO of Club Med and Accor.

Portugal provides political and economical stability for a sound investment

Your clients get in at the beginning of what is booming US product here in Europe.

Reasons why the investment is attractive for IFA’s:

Kasâmia products for IFA’s

Chairman & General Management


Unique experience combining both real estate development and the hospitality / service industry

•Club Med, resorts (founder, CEO of Club Med Asia Pacific, deputy CEO of Club Med Inc., CEO of Club Med Europe, Africa and Middle East). In these capacities, he directly managed the real estate development activity.

•Club Hotel-Maeva, real estate and serviced residences (CEO)

•Jet Tour, tour operator and hotels (CEO)

•Accor Asia Pacific, 250 hotels & resorts in five years, listed on the Sydney Stock exchange (founder, board member)

•Accor Leisure and Tourism 300 hotels & resorts, tour operators (founder, CEO)

•Thalassa International leading thalassotherapie & spa hotel chain (CEO)

•Carlson Wagons Lits Leisure, travel agencies (CEO, board member)

•initiated and arranged Accor's acquisition of Go Voyages, the current success story in France's travel industry

•initiated and arranged the sale of Viajes Ecuador and Tiempo Libre to Viajes Halcon (Globalia)

•Alliance.T, central buyer for 6,000 travel agents in Europe for the Selectour, CWLT, RTK, Fnac Voyages, Wasteels, etc… (founder, chairman)

•Kasâmia, Luxury residences with five star hotel services (founder, chairman)…/…

Chairman’s Track Record

Jean - Robert ReznikJean - Robert Reznik


…/…

• RISMA investment fund (founder, CEO): – leading hotel group in Morocco– cash flow positive since Year 1– May 2006 IPO on the Casablanca stock exchange: 25 times oversubscribed (most successful IPO ever

in Morocco), valuation multiplier for initial investors of 4.2x in less than 6 years.

• Founder of tourism real estate investment funds on the same model as RISMA: STI in Tunisia (9 hotels), MACOR in Egypt (25 hotels, market leader)

• Pioneered leading tourism destinations (Phuket, Bali, Dominican Republic, Morocco, Tunisia, Egypt, Mauritius…), sustainable development oriented projects creating value for investors, customers and local governments:

– Consultant to governments for the creation of new tourism destinations (Punta Cana in the Dominican Republic, the East Coast of Malaysia, Nusa Dua in Indonesia, Mauritius, Morocco, etc…)

– Negotiated favorable legal and tax environments with local authorities to facilitate investors' control and ensure profitability

• Consultant to MITI (Japan): "Silver Columbia" project (accommodation and services for Japanese retirees in lower cost countries)

• Partnership with Harvard Medical School on housing and healthcare solutions for retirees

• Honors: – "Chevalier de la Légion d'Honneur", awarded by the French Minister of Finance,– "Chevalier du Ouissam Alaoui", awarded by the Moroccan Minister of Finance and Economy.

Chairman’s Track Record


Gregory Reznikenglish, french, spanish

Alexis Leroyenglish, french, spanish

Previously

South-West Partners (co-founder, CEO): Real Estate and Tourism consulting firm, specialized in the implantation of companies in Spain establishing expansion strategies for clients such as Accor Hotels, Pierre et Vacances also a strong client base of Real Estate developers local and international. In this process SWP has build strong ties with institutions such as CaixaHolding & CEOSA in Spain.

Corcoran Real Estate New York Residential and real estate development.

Hospitality Industry Held several positions in different hotels chains as General manager, Food & Beverage Manager, assistant GM.

Education

Fordham University New York Business Administration

French Baccalaureat Economics

Previously

South-West Partners (co-founder, CEO): Real Estate and Tourism consulting firm, specialized in the implantation of companies in Spain establishing expansion strategies for clients such as Accor Hotels, Pierre et Vacances also a strong client base of Real Estate developers local and international. In this process SWP has build strong ties with institutions such as CaixaHolding & CEOSA in Spain.

Clarence (founder, CEO): live-stock brokerage management company

Honors

Decorated with the “Médaille de la Défense Nationale”

Education

Université d’Assass Law

French Baccalaureat Economics

General Management

The Resort

A…

… Residence


Sesimbra Bay Beach & Spa

Awake your senses at Kasâmia’s Sesimbra Bay Beach & Spa Resort, the charm of an authentic Portuguese village, 30 minutes away from Lisbon International Airport.

The ideal place for your family vacation or romantic weekends – Indulge to a world of water care with Kasâmia Spa exclusive treatments or lay back and relax next to the pool.

Enjoy from your suite dramatic views of the Atlantic, take a stroll down to the beach and come night time relax in our Tapas & Martini lounge or have a romantic dinner at the neighbor Sesimbra Village.

The Concierge is here to cater to any request you may have..

Sesimbra Bay Beach & SpaSesimbra Bay Beach & Spa


Reception & Lounge at Sesimbra Bay

24 Hour Reception24 Hour Reception Kasâmia à la carte services

Shuttle ServiceShuttle Service Kasâmia transportation to Lisbon centre, Lisbon International Airport and golf courses

The Lounge The Lounge pool table, wide screen TV, game tables

The KioskThe Kiosk gourmet snacks, drinks, newspapers, magazines and essentials

The Business CornerThe Business Corner secretarial services, wifi and laptop access

Sesimbra Bay Beach & Spa features an upscale reception & lounge combining:

• The perfect design• Lighting intensity• State-of-the-art décor• Comfort• À la carte services

..when not in their accommodations, guests will surely be found here.


À la carte services

Sesimbra Bay Beach & Spa Concierge key desk, far from being a regular hotel recepetion, offers much more….

Enjoy your stay as much as possible, relax…and let us do the rest, from booking a country side horse ride to food delivered right at your door, pass through our Concierge Key Desk and find out all that we can do to make your stay as pleasant as we can.

Our friendly staff will be glad to attend you personally, in your language, from our reception, anytime, 24 hours a day, 7 days a week,or by phone or Internet.

Key holding Fill in the fridgeBabysittingMaintenanceFood delivery

services services

Your wishes are our command

Gifts & FlowersGolf & Restaurants bookingsCelebrations & CateringSports teachersNail & Beauty treatment

Pet ServicesLaundryHair DressingTravel BookingsRent-a-car

Range of services is subject to changes by Kasâmia depending on demand


Unique Kasâmia Spa

services rendered..services rendered..

interior swimming pool aquatic massages, oxygenation, vitality treatmentsshowers rain-walk, contrast spray, cyclonic treatmentpediluvium feet-care, surface and immersion treatmentsthermal contrast finnish sauna, turkish bath, roman spa, ice caverelaxation areas heated teak benches, music therapy, chromotherapyzen lounge massage parlour, fruit bar, beauty therapy rooms

featuring..featuring..

the private mini-spa in-room spa care bringing guests’ relaxation to a new level

(exclusive for Sesimbra Bay guests)

Health-care, beauty - care,interior harmony

Quality Guarantee


Sesimbra Bay: Profitability

These are no contractual results and are subject to amendments by Kasâmia

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7

STUDIOS 30 30 30 30 30 30 30

1 BED APARTMENTS 78 78 78 78 78 78 78

2 BED APARTMENTS 87 87 87 87 87 87 87

3 BED APARTMENTS 6 6 6 6 6 6 6

TOTAL APARTMENTS 201 201 201 201 201 201 201

OCCUPANCY STUDIOS 60.83 63.27 65.80 68.43 71.17 74.01 76.97

OCCUPANCY 1 BED 63.75 66.30 68.95 71.71 74.58 77.56 80.66

OCCUPANCY 2 BED 56.75 59.02 61.38 63.84 66.39 69.05 71.81

OCCUPANCY 3 BED 53.33 55.47 57.69 59.99 62.39 64.89 67.48

OCCUPANCY AVERAGE 59.97 62.37 64.87 67.46 70.16 72.97 75.89

STUDIOS OCCUPIED PER YEAR 6,667.50 6,927.70 7,204.81 7,493.00 7,792.72 8,104.43 8,428.61

1 BEDS OCCUPIED PER YEAR 18,166.20 18,875.61 19,630.63 20,415.86 21,232.49 22,081.79 22,965.07



TOTAL OCCUPIED APARTMENTS 44,052.15 45,759.83 47,590.22 49,493.83 51,473.59 53,532.53 55,673.83

AVERAGE PRICE STUDIO 84.58 88.81 93.25 97.92 102.81 107.95 113.35

AVERAGE PRICE 1 BED 97.50 102.38 107.49 112.87 118.51 124.44 130.66



AVERAGE PRICE 4 TYPES 105.91 111.20 116.76 122.60 128.73 135.17 141.93

INCOMES 5,174,185.98 5,643,501.39 6,162,703.52 6,729,672.25 7,348,802.09 8,024,891.89 8,763,181.94

TRANSFORMATION COSTS 177,262.78 191,499.75 207,126.13 224,027.62 242,308.27 262,080.63 283,466.41

POWER CONSUMPTION 229,071.18 247,469.17 267,662.65 289,503.92 313,127.44 338,678.64 366,314.82

INDIRECT COSTS 218,922.80 227,679.71 236,786.90 246,258.38 256,108.71 266,353.06 277,007.18

SALARIES 438,722.86 456,271.78 474,522.65 493,503.55 513,243.69 533,773.44 555,124.38

COMMUNITY CHARGES 289,440.00 301,017.60 313,058.30 325,580.64 338,603.86 352,148.02 366,233.94

4% FF&E (furniture, fixture & equipment) 206,967.44 225,740.06 246,508.14 269,186.89 293,952.08 320,995.68 350,527.28

TOTAL COST 1,560,387.06 1,649,678.06 1,745,664.77 1,848,061.00 1,957,344.07 2,074,029.46 2,198,674.00

30.16% 29.23% 28.33% 27.46% 26.63% 25.84% 25.09%

GROSS OPERATING PROFIT (GOP) 3,613,798.92 3,993,823.34 4,417,038.75 4,881,611.25 5,391,458.03 5,950,862.42 6,564,507.94

69.84% 70.77% 71.67% 72.54% 73.37% 74.16% 74.91%

GOP - MANG COSTS 2,916,096.94 3,227,613.41 3,574,759.15 3,956,021.43 4,374,640.09 4,834,158.21 5,338,450.32

% ON PRODUCTION 56.36% 57.19% 58.01% 58.78% 59.53% 60.24% 60.92%

OWNERS REVENUE 5.00% 5.00% 5.18% 5.73% 6.34% 7.01% 7.74%


Analysis – Golf Fields (In Proximity) Analysis – Golf Fields (In Proximity)

Two 18-hole championship coursesGolf schoolClub-HouseRestaurantSwimming PoolTenis

Aroeira

Quinta do Peru

Golf do Montado

One 18-hole championship course

One 18-hole championship course

Troia Golf One 18-hole championship courseDesigned by Robert Trent Jones Senior25th best European golf course (according to Golf World)

Golf Market analysis


Disclaimer

This presentation contains Non-Disclosure information and is subject to confidentiality. Without Kasâmia’s consent, its communication is Forbidden.

The information in this presentation may change and will be constantly updated. Kasâmia cannot be held responsible for any updates made.

LUXURY HOTEL - RESIDENCES & VILLAS

LUXURY HOTEL - RESIDENCES & VILLAS. 10/10/2014Documento confidencial © Kasâmia 20072 “Our vision is to be the leading serviced residence company with.

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