Greenwood Development Corporation, owner and operator of the world-class Palmetto Dunes Resort on Hilton Head Island, S.C., announced today that it will officially launch a vacation rental program and will also assume control over the resort's welcome and reception center, conference facility management and special event operations.

"We've made the decision to add these services to our already rich menu of resort offerings in order to provide our guests with a full-service resort experience and to deliver all of their vacation and retreat needs," said Bret Martin, Greenwood's Vice President, Resort Operations.

"We're strategically responding to a more discriminating market demand for a single source offering a complete Hilton Head experience. The best competition is trying to accomplish the same objectives. To remain competitive at the highest possible level, we must provide a resort experience which matches or exceeds the best resorts on the East coast."

Martin indicated that the number of vacation rental properties available directly through Palmetto Dunes Resort will be limited at first in order to ensure high-quality service to guests and owners alike. "In the next few months," he said, "we will begin to contact owners of selected rental properties in Palmetto Dunes to join Palmetto Dunes Resort's vacation rental program."

Palmetto Dunes is currently booking vacation rentals for 2008 and scheduling special events, weddings and conferences at the resort's award-winning facilities. Beginning in January of 2008, Greenwood will officially operate the welcome and reception center and all conference and event venues previously leased and operated by third parties under the Palmetto Dunes Resort name.

Greenwood plans to grow Palmetto Dunes's vacation rental, conference and event business over time with the goal of becoming Hilton Head Island's preferred vacation and event resource. "We intend to provide a world class resort experience for our guests," said Martin, "and to keep them coming back to enjoy the ultimate Hilton Head Island experience."

Palmetto Dunes Resort already enjoys a top-notch reputation as a quality resort destination and was recently ranked the No. 1 family resort in the world by Travel + Leisure Family magazine.



This stellar resort includes three world-renowned championship golf courses, the award-winning Palmetto Dunes Tennis Center the 175-slip Shelter Cove Marina, as well as Palmetto Dunes Outfitters, a popular outdoor adventure center featuring everything from bike rentals to kayak excursions. Shelter Cove Harbour's popular waterfront retail destination, two conference centers and many other amenities and services serve as highlights of Greenwood's Palmetto Dunes Resort holdings on Hilton Head Island.

With this announcement, Greenwood will effectively create a Palmetto Dunes-owned and operated accommodations and event management company that will ensure consistency of quality throughout the resort, from vacation packages to meetings and conferences to wedding planning. This decision also underscores Greenwood's commitment to maximizing Palmetto Dunes's potential impact on the lucrative leisure travel and convention market.

"An important component of our strategy is control of the Palmetto Dunes brand," explained Martin. "In the past we have created relationships with third parties as our primary accommodations and event partners. Although we will continue to foster relationships with third-party providers, our primary accommodations focus will be with our own resort-branded accommodations. This will allow us to build additional recognition of the Palmetto Dunes Resort brand on both a regional and a national basis." For reservations, event or catering information, please call 843-785-1138 or visit www.palmettodunes.com.

About Palmetto Dunes Resort

A 2,000+ acre resort stretching from three miles of prime Atlantic Ocean beach to Shelter Cove Harbour 's "sheltered" inlet adjoining the Intracoastal Waterway on Hilton Head Island, S.C. Palmetto Dunes is consistently recognized among the world's finest resorts. The resort features three worldclass golf courses, an award-winning tennis center, plus an 11 mile inland salt-water lagoon system for kayaking and fishing. The resort also features a popular marina and Outfitters bike and adventure shop, along with one of the best beaches on the Eastern seaboard. Shelter Cove Harbour & Marina , one of the finest ports of call on the East Coast, is the largest deep-water marina on Hilton Head Island. Shelter Cove features an impressive line-up of unique apparel and gift shops, restaurants and art galleries in a one-of a kind Mediterranean setting. In addition, Shelter Cove is home to a full variety of charters, nature cruises, dolphin tours, sport crabbing and fishing. Shelter Cove is located mid-island on the western side of Route 278 at the entrance to Palmetto Dunes Resort. For more information, please visit www.palmettodunes.com.