Landmark Phoenix Resort Undergoes Grand Enhancements: Pointe South Mountain Resort Becomes Arizona Grand Resort; $21 Million Gues

PHOENIX (Business Wire EON) November 15, 2007 -- Sam Grossman, founder of Grossman Company Properties, purchased Arizona Grand Resort in 2006 and immediately saw the potential for greatness. "If you've ever been to Arizona Grand, the first thing you notice is its amazing natural setting and the friendly staff," said Grossman. "Our rooms needed to reflect the beauty of that environment."

Immersing guests in the natural beauty of the property is also much on the mind of Richard Behr, Arizona Grand Resort's new Managing Director. Behr brings extensive luxury resort experience and a vision Grossman believes will make the renovated property not only "the friendliest resort in Arizona," but a can't-miss fun experience.

Says Behr: "We have more than 160 acres located at the doorstep of the South Mountain Preserve, a setting that gives our guests unlimited year-round choices. Whether they want to hike through the mountains, play golf, lounge by the pool, slide down an eight-story water slide at the Oasis Water Park, visit the spa or dine at one of our restaurants, we offer our guests a property unlike any other in the state. Each suite and every employee reflects what the state of Arizona and our resort has to offer." Behr was enlisted to extend the enhancement process beyond the physical renovations and additions.

"The little things can go a long way," said Behr. "We're making sure we address everything that will make our guests' stays fun and friendly."

In addition to guest suite room enhancements, 50 new one and two bedroom luxury villas will be added to the resort for purchase by potential investors. The Villas at Arizona Grand Resort feature luxury resort amenities along with resort, golf course and Oasis Water Park views. The Villas are currently available for purchase with a move in date scheduled for December 2008.

About Arizona Grand Resort

The 640-suite Arizona Grand Resort is located on 164 beautifully landscaped acres at the base of the spectacular South Mountain Preserve, six miles from Sky Harbor International Airport. Resort highlights include the seven-acre Oasis Water Park - named one of the Top 10 Theme Parks in the country by the Travel Channel - an award-winning 18-hole challenging golf course woven through the scenic Sonoran desert, five specially themed restaurants, the intimate Arizona Grand Athletic Club & Spa and 117,000 square feet of meeting and function space, including a 20,000-square-foot exhibit pavilion. More information is available at ArizonaGrandResort.com

About Grossman Company Properties

Grossman Company Properties (GCP), founded by Sam Grossman, is headquartered in Phoenix, and is one of the premier commercial and residential developers in the western United States. During the past 43 years, GCP has built, developed and managed more than 14 million square feet of high-quality properties including the Arizona Biltmore Resort and Spa, Biltmore Fashion Park, Phoenix Spectrum Mall, Park Central in Dallas, the Inn at Laguna Beach in California, Eagle River (mixed-use development) in Eagle, Idaho and the award-winning master planned community of Hidden Springs in Idaho.