100 Park Avenue | 16th Floor | New York, NY 10017

411 Theodore Fremd Avenue | Suite 206 South | Rye, NY 10580

(212) 937-1042

Boutique Real Estate Advisors, LLC / Boutique Club International, LLC (“Boutique”)

is an exclusive real estate advisor that works with owners and developers of distinctive,

luxury properties to create full service lifestyle real estate products that preserve the

authenticity of each property while maximizing its value.

We provide assistance in raising capital, creative design, development, marketing and sales, operations, highest and best use real estate, public relations, and related development services for luxury lifestyle projects.

The scope and capabilities provided by Boutique are distinct for each project, developer and owner. This bespoke service drives each aspect of our approach and the manner with which we incorporate the benefits of shared ownership and whole

ownership formats into mixed use, resort and residential lifestyle projects.

In approaching each project, our focus is twofold: to make sure the project is viable in the marketplace, and that the services promised are delivered at the highest quality levels.

Boutique was co-founded in 2003 by Jay DiGiulio, who remains the sole

principal of the company, and his former partner. Boutique is an international

advising group specializing in working with owners in the design, development,

sales and marketing of distinctive resort projects. Another thriving aspect of the

business is to assist owners with raising capital for their projects through our

various relationships with investors.

Boutique has combined a collection of unique elements that make its projects

the finest in the market, including spectacular, one-of-a-kind destinations,

deliberately exclusive elements of ownership and membership comprising

successful, like-minded people. Focused on unparalleled service, and beautifully

developed residences that members, owners and their families can enjoy for

generations, Boutique excels at assisting developers and owners with the

integration of shared ownership, whole ownership and private club membership

programming into mixed-use, resort and residential lifestyle projects.

In approaching each project, Boutique’s focus is two-fold: first, to ensure that the

project is viable in the marketplace and second, that the services promised by

Boutique are delivered within the budget approved by the owner. With this

approach, Boutique has built strong relationships with a core group of successful

and renowned developers and industry professionals.

Boutique has deep luxury brand experience and has enjoyed working with Ritz

Carlton, St. Regis, Four Seasons, W Hotels, Westin, Marriott, Hilton and Hyatt.

Additionally, Boutique has teamed with and provided real estate solution

services to some of the best independent and institutional resort hospitality

talent in the world, including: Columbia Sussex, André Balazs, Spano Partners

Holdings, Scout Real Estate Capital, Caribbean Property Group, Gardiner &

Theobald, Peter Marino, DE Shaw, Hart Howerton, Perkins Eastman, Peter de

Savary and Arnold Palmer.

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Boutique has expertise across the transactional spectrum. The list below includes current and past projects:

GOLF: Orlando Arnold Palmer Properties – hospitality and real estate

opportunities worldwide

Puerto Rico Dorado Beach Resort, Trump International Golf Club &

Residences, Ritz Carlton Golf Club & Spa

Mexico El Anhelo, East Cape, Los Cabos (Arnold Palmer Design)

MARINA: British Virgin Islands Bitter End Yacht Club, Island Global Yachting

Mexico El Anhelo, East Cape, Los Cabos

RESORT/WATERFRONT: Anguilla Rendezvous Bay, KU Hotel

St-Barth Isle De France

St. Maarten Dawn Beach Club, Blue Pelican Club

Dominican Republic Balcones del Atlantico

Harbour Island, Bahamas Pink Sands Resort

Mexico JW Marriott, Casa del Mar

Nantucket Harbor House

Martha’s Vineyard Harbor View Hotel

Bermuda Sonesta

Costa Rica Si Como No

Grenada Mount Cinnamon Resort & Beach Club

URBAN/LIFESTYLE: New York City 7-15 West 44th St. Project, Highline, Roger Williams, Hilton

Club, Gotham Hotel, Franklin Hotel, Mansfield Hotel

Boston Custom House

Newport Vanderbilt Hall

Toronto Deerhurst, Horseshoe Resort, Port McNicoll, Pantages

Hotel, Cosmopolitan Hotel

SUSTAINABLE: Anguilla Rendezvous Bay, Little Bay

UNIQUE: Tuscany Castiglion del Bosco

Connecticut The Falls at Franklin Hills, Waterford Group – Mystic

Pennsylvania Split Rock Golf Club & Resort, Mountain Laurel Resort & Spa

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Each of Boutique’s projects has a real estate or

membership club component and we have

developed and executed sales and marketing

platforms for whole ownership, fractional, shared

ownership and membership products – often

combining one or more of these products for a

particular project and always integrating the sales

and marketing execution with the development

and operating components of the project.

Since our focus is entirely client and project based,

we maintain a very lean management team and

overhead operation. We staff for each particular

project and do so in a manner that allows us to

select the best talent at the best possible cost for

our client. This way, our client can be confident

that the team selected for the project is focused

only on that project and that there are no

unnecessary personnel or overhead costs.

Ultimately, this also provides our clients with

better staffing control. The principals of Boutique

remain responsible for overseeing the project

team on a daily basis and for all reporting to the

client.

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Capabilities and services include:

Complete Project programming, including recommended components and length of all real estate interests tobe sold

Fit, finish and FF&E requirements for each unit

Amenity Requirements (Public Space and units), including public space allocation and location

Additional Amenity Requirements and Possibilities (e.g. Concierge Service, Automobile Use and relatedprivileges)

Back of House Requirements and Recommendations (including any requirements for exchange programpurposes)

Establishment of reporting requirements, form reports and programming

Coordination of the Marketing and Sales Plan with the hotel operator

Coordination with the hotel operator with respect to budget and related operations matters

All aspects of financing programs for purchasers of Ownership Interests

Selection of project team members as requested by Owner, including public relations, creative design, interiordesign, project management, media relations, media purchase, website design, database development andlegal and assist owner, if requested with negotiation of applicable contracts for the Project

Establish meeting and reporting schedule for the Project Team, including coordination of deliverables

Generally assist owner with oversight and integration of Project Team and attend all Project meetings

In addition to the foregoing, Boutique creates and delivers detailed Marketing and Sales Plans and Marketing and SalesBudgets. These plans usually address the following components:

Start-up Budget with priorities and Timelines

Pricing of real estate and/or club interests

Purchase incentive allocations

Identification of all potential key markets and customer channels for the Project

Designing programs to exploit key markets and customer channels

Financing terms and options for prospective purchasers or members, including discussion/negotiation withprospective lenders

Location of on-site and off-site sales centers and preview galleries

Sales center and preview gallery design

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Collateral sales material – concept and development

Public Relations and Media – use of internet and social media platforms and article and advertisingplacement and timing

Website design

Full audit of existing sales process and staff, and appropriate follow up and recommendations

Sales staff recruitment , hiring, training and reporting, including commission structure

Projected annual fees for owners and club members

Integration with hospitality operations

Selection of exchange company and assistance with affiliation documents

Preparation of Sales Documents

Assistance with Registration Matters

Local “partnerships” as sales generators

Definition and Management of all strategic partners and alliances for lead generation and sales distribution

Coordination with local, US and international brokers and establishment of broker programs

Detailed Budgets and Timelines for complete sellout

Sales Reporting – design procedure and format

Boutique is responsible directly for all aspects of executing the Marketing and Sales Plan through the commencement ofsales at the Project. Thereafter, Boutique coordinates with and oversee the owner’s onsite sales team and the ProjectTeam to ensure that the Marketing and Sales Plan continues to be executed as envisioned until sales and the salesprocess are stabilized to the satisfaction of owner.

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Shared Ownership HOA Experience & Timeshare Owner’s Associations

Boutique has experience in all aspects of Home Owners Associations, Member Based SharedOwnership Management and Oversight:

Timeshare Governing Documents – Timeshare Declaration, Articles of Incorporation,Bylaws, Rules & Regulations

Owners Association Board of Directors – Size, Tenure, Nominations, Board Structureand Officer Responsibilities, Committees, Budget, Communications

Association Meetings – Oversight and Coordination of Annual and QuarterlyMeetings

Proxies for Non Attendees – Management of Proxy and Quorum Process

Owners Maintenance Fees

Direction for Annual maintenance fee and annual assessment.

Board guidance for Adoption and corrections of the annual Operating Budget.

Budget preparations and reserve allocations

Oversight and guidance for fixed and variable expenses

Collections and owner use guidelines.

Annual Budgets – Review, Creation, Annual Operating Budget, Reserve Account,Special Assessments

Pertinent Projects and Experience:

Marriott's Custom House, Boston MA – Creation and management of the HOA for4,000 members of a 40 year right to use product.

Marriott's Cyprus Harbor and Grand Vista Resorts, Orlando FL – Management ofHOA for 12,000 owners and 4 boards for phased development.

Sheraton's Vistana Village, Orlando FL – Creation and Management of HOA for 8,000plus owners on two boards.

Hilton Grand Vacations, New York, NY – Creation and Management of MemberAssociation for 3,500 members.

Dawn Beach Club, St Maarten, N.A. – Creation and management of MemberAssociation for 6,500 international members.

The Captains Cottages at Harbor View, Edgartown MA – Oversight and Creation ofHOA for 18 whole ownership condominiums.

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Our clients come to us only through referrals and we only accept a

limited number of engagements at one time. Our true strength lies in

the breadth of real transactional experience that our principals bring

to each project and the fact that both senior principals of Boutique

are directly involved with every client and every engagement and are

always accessible. Also, we have been principals and managers of

hospitality and resort assets as well as consultants so we understand

financial discipline and the absolute requirements of monitoring and

controlling timelines, deliverables and expenses. We have worked on

unbranded and branded projects that range in size from a 12 unit

urban asset to a 1,000 acre luxury destination resort.

While some other sales and marketing groups appear to approach

projects in a limited, narrowly focused, “this is how we always do it”

manner, we are exactly the opposite. Since we have experience

across every aspect of a transaction (except actual development) we

approach projects with a wide and creative perspective and with the

intention of being involved and adding value in all disciplines. For

example, in most club projects, we not only established the sales and

marketing platform, but are also directly responsible for assisting the

sponsor in:

(a) selecting, organizing and managing the entire creative

team – including negotiation of specific contracts,

(b) organizing and coordinating amenities for club/project

programming; and

(c) developing the actual membership and club programming

documents.

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We have had the good fortune to have worked with some of the most distinguished individuals, entities and projects in

the hospitality/resort industry; such as:

André Balazs / André Balazs Properties

CPG / Dorado Beach Resort

Scout Real Estate Capital / Martha’s Vineyard-Bermuda-Hawaii

Gruppo Questro / Sanches-Navarro Family / Casa Del Mar, Cabo San Lucas

Spano Partners Holdings / JW Marriott Resort & Residences, Loreto, Baha Sur, Mexico

Karp Family / Nantucket

Bisono Family / Dominican Republic

Charles Blaichman / Highline-Various NY projects

Gardiner & Theobald / Several Projects

The Brandman Agency / Several Projects

Peter Marino / Rendezvous Bay

Alexandra Champalimaud / Harbor House

Christian Liaigre / Highline, Rendezvous Bay

AMGW Agency / Several Projects

Seventh Art Group / Several Projects

Perkins Eastman / Rendezvous Bay

Hart Howerton / Several Projects

BrightDoor Systems / NYC Urban Project

Trump Organization / Trump International Golf Club & Residences Puerto Rico at Coco Beach

Peter de Savary / The Private Residence Club at Mount Cinnamon Resort & Beach Club

Arnold Palmer Group / Bay Hill Club & Lodge, Other real estate opportunities

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Because of our unusually broad transactional experience, in almost every

instance, in addition to our role in developing and executing the sales and

marketing plan, we are tapped to assist our client in integrating all aspects

of the creative process for the project and to work directly with architects,

designers, creative agencies and project managers to ensure that the final

product matches both the vision of the owner and the demands and

desires of the marketplace.

We pride ourselves on working with selected creative agencies and

managing the entire creative process to establish the identity and

personality of a project and then developing and exhibiting that identity

and personality through the website, collateral materials, media and

public relations in the most compelling manner. Since the creative aspect

of any large project is fluid and often undergoes many metamorphoses, it

is critical for Boutique to constantly work with the owner and the creative

team to ensure continuity of messaging and responsiveness to the

marketplace.

Finally, we work with our clients throughout the project and beyond the

normal scope of a sales and marketing organization. We like to be part of a

project from inception until the vision for the project is achieved and sales

are completed.

In short, we believe that no other company can provide you with the

access to senior principals with the experience and commitment to

organize, integrate and drive all project disciplines on your behalf.

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Jay DiGiulio, Founder and President, has spent his entire 30-year career in the interval, fractional

ownership and real estate development industries, holding senior level executive positions with blue

chip companies like Hilton, Starwood and Marriott. Mr. DiGiulio was responsible for the marketing and

sales at Marriott’s Custom House in Boston and for the startup marketing and sales at The Hilton Club in

New York, each property its respective brand’s premier urban interval product. Mr. DiGiulio and his

teams have been personally responsible for industry revenues over $1 Billion. Mr. DiGiulio’s expertise

lies in execution strategy from design and product structure, recruitment and training of all personnel,

and platform formation and long-term planning.

Devin Wakeford, Vice President, spent three years working for the largest global commercial real

estate services company, CBRE Group, prior to joining Boutique in 2009. While at CBRE, Mr. Wakeford

was involved with several transactions for top tier clients such as UBS, A&E Television Networks,

Northwestern Mutual, and Lenovo (a division of IBM). Under his current role, Mr. Wakeford project

manages on several fronts and is tasked with market research, preparing financial models to determine

feasibility of projects, preparation of business plans regarding sales and marketing initiatives to

implement such plans, manage employees and operational aspects of projects. He has been involved

with overseeing significant projects located in New York City, Martha’s Vineyard MA, Connecticut,

Pennsylvania, Florida, Mexico and the Caribbean. Mr. Wakeford brings with him a formidable

experience as he oversees the day to day operations of the business, collect and report market data, all

while contributing to the company sales of the carefully selected projects.

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Following is a list of all past Boutique projects:

Highline, NYC

White Elephant Resort & Residences, Nantucket, MA

Vanderbilt Hall, Newport, RI

Casa del Mar, Cabo San Lucas

JW Marriott, Loreto, Mexico

Mayflower Hotel, Washington DC

Onyx, Las Vegas

Hilton Club, NYC

Marriott’s Custom House, Boston

Aruba Beach Club

Cotton Bay Resort, Eleuthera, Bahamas

St. Regis, Costa Rica

St. Regis, Bahia Beach, Puerto Rico

Four Seasons Jackson Hole, Residence Club, WY

Hyatt Vacation Club Beaver Creek, CO

Hyatt Vacation Club Breckenridge, CO

Intrawest’s Quarter Ownership, IQ, Copper Mt., CO

Sheraton Vistana Villages, Orlando, FL

St. Regis Temenos, Anguilla

St. Regis Deer Valley, UT

W South Beach

W Ft. Lauderdale

W Dallas

W Hollywood

Westin Roco Ki, Dominican Republic

Westin St. Martin

Westin Napa

Westin Snowmass

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