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Company News
June 01, 2011

IGY Marinas Signs Management Agreement with Marina Papagayo

FORT LAUDERDALE, FL; COSTA RICA – JUNE 1st, 2011 – IGY Marinas announces the addition of Marina Papagayo to its global network of premier yachting destinations. Marina Papagayo, located on the north Pacific coast of Costa Rica is part of the acclaimed five-star residential resort community of Peninsula Papagayo. This state-of-the-art, full-service marina offers a wide array of nautical services along with award-winning accommodations and amenities at the Four Seasons Resort Costa Rica, including an Arnold Palmer Golf Course, spa, and multiple dining options. This exotic, yet accessible escape is situated just 20 minutes from Liberia International Airport offering daily and frequent services from major US gateway cities.

Island Global Yachting will provide marketing and branding services as part of the agreement, with Marina Papagayo being branded as “an IGY destination”. IGY Marinas will also be delivering staff training and operational support through the acclaimed IGY University, a program tailored to the specific needs of marina staff that provides all the knowledge needed to operate a world-class marina.

As part of the IGY network, Marina Papagayo may be added to the IGY Anchor Pass program, where yachts can dock throughout IGY’s Caribbean network of six locations for 365 days a year, for one fixed fee. As an IGY destination, Marina Papagayo will also be part of the IGY Anchor Club, the industry’s leading loyalty program for captains of vessels over 80 feet, in which redeemable points are accrued for stays at select IGY locations. Members choose rewards from an online catalog containing a full array of gifts ranging from jewelry and electronics, to vessel services and clothing.

IGY Marinas President Tom Mukamal said, “We are very excited that Marina Papagayo has chosen to join our growing collection of unique marina and yachting lifestyle destinations. We are flattered that the team at Marina Papagayo has entrusted the IGY brand with such a unique asset and we intend to create tangible results for the owners and work with the team at Papagayo to deliver the product that our customers have come to expect from IGY. The inclusion of Marina Papagayo into the IGY network gives us the opportunity to present more variety to our customers, as Central and South America continue to emerge as top yachting, sport fishing and eco-tourist destinations. The location of Marina Papagayo expands IGY’s reach on the Pacific coast, thereby offering more amenities and range to boaters and yachtsmen alike.” The agreement solidifies IGY’s position as a premier provider of marina services, resting alongside one of the strongest global names in hospitality. “With great enthusiasm, we look forward to bringing a high-value experience to our customers and welcoming them to Marina Papagayo.”

About Marina Papagayo

The state-of-the-art, full-service marina offers 180 slips capable of accommodating all types of vessels from sportfishers to mega yachts up to 220 feet. The marina offers private concierge service to ensure guests take full advantage of their surroundings, whether on land or on the water. Vessel services include fuel, electricity, water, pump-out, laundry facilities, security and emergency services. Top provisioning is brought straight to the vessel. The Marina Centre facility offers a chandlery, Dive Bar, a business center and a lounge with TV and pool table. A pool and sun deck with beautiful views of the marina round out the amenities. As an all-encompassing destination, the property will include an Andaz resort by Hyatt, slated to open in 2013 featuring a variety of amenities including a spa, gourmet restaurants, a beach club and fitness center. The Marina Village will also feature additional retail shops, restaurants and entertainment. Please visit www.marinapapagayo.com for further details.

About IGY

With yachting destinations spanning the Americas, IGY has redefined the luxury marina experience. Founded in 2005, IGY focuses on acquiring, managing, and servicing luxury-yacht marinas and lifestyle destinations. Headquartered in Fort Lauderdale, Florida, IGY also has offices in New York, NY and St. Thomas, USVI. Island Global Yachting marinas operate under the signature Yacht Haven Grande collection and the IGY series brands. IGY’s network of properties is setting new standards for service and quality in nautical tourism throughout the world. The company now offers an unprecedented collection of 12 marinas in the Caribbean, Pacific and the Americas, all catering to a variety of vessel types including sportfishers, cruisers, sailing & motor yachts, as well as being exclusive home ports for some of the world’s largest megayachts. IGY also participates in 9 of the world’s biggest and best sportfishing tournaments, making our marinas in Cabo San Lucas, Mexico, St. Thomas USVI, and Palmas Del Mar, Puerto Rico highly sought-after angler destinations. IGY is an affiliate of Island Capital Group LLC, a real estate merchant banking firm led and founded by Andrew Farkas, former chairman of Insignia Financial Group. For more information, please visit www.igymarinas.com or www.islecap.com.