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Press Room

3RD MAY 2006  (EN NL FR IT)

GOLDEN TULIP OPENS DEVELOPMENT OFFICE IN INDIA

GOLDEN TULIP OPENS DEVELOPMENT OFFICE IN INDIAGolden Tulip Hospitality Group enters the Sub Indian Continent by signing a joint venture agreement with Leland Group.

Golden Tulip Hospitality Group is proud to announce the opening of a development office in New Delhi - India. Golden Tulip Southern Asia, a joint venture between Golden Tulip and the Leyland Group will focus on developing and servicing hotels in the Indian Sub Continent focusing primarily in India, Pakistan, Bhutan, Bangladesh and Sri Lanka.

Golden Tulip Southern Asia aims to establish Golden Tulip Hotels, Inns & Resorts as a leading hotel chain in the four and three star hotel sector in the Sub-Indian Continent. The office will furthermore develop the necessary infrastructure to provide maximum support to its franchisees and owners. Golden Tulip Southern Asia aims to achieve a portfolio of 40 hotels in a five year period by both converting existing hotels into Golden Tulips and Tulip Inns as well as developing new hotels.

Leyland Group is a diversified real estate and hospitality investment, development and management company based in New York. The group brings an extensive experienced development team with established relationships with developers and hotel owners. Mr. Vimal J. Singh, Executive Vice President of Leyland Group joins Golden Tulip as the Managing Director and Senior Vice President of Golden Tulip Southern Asia. Bringing along more than twenty five years of experience in real estate and hospitality industries, Mr. Singh previously was the Managing Director and founder of HI Hotels India, a joint venture with Holiday Inn Worldwide to develop Holiday Inns in India. This venture developed 14 hotels in India and Nepal. He was also a Principal with a hospitality investment banking firms, Wilder Group and Helmsely Spear in New York.

Hans Kennedie, President & CEO of Golden Tulip Hospitality Group states: “I am very pleased with the opening of Golden Tulip Southern Asia office. Our aim is to establish a strong position in the Indian Sub-Continent through the development of franchise and management agreements for existing and new hotels. I am confident that with the combination of the Leyland Group’s experience and the full roll out of our management and franchise formulas we will achieve the targets set.”

Vimal Singh, Senior Vice President & Managing Director for Southern Asia
adds: “We enter with great enthusiasm into this business adventure. Golden Tulip’s brand recognition and its proven success track record gives us the necessary tools to develop new projects in this region. The opening of the office of Golden Tulip Southern Asia is the initial step to a fruitful cooperation between Golden Tulip and Leyland Group.”

Golden Tulip Southern Asia Office:
Mr. Vimal J. Singh
Senior Vice President and Managing Director
172 Golf Links
New Delhi, India 110003
E-mail: vimal.singh@goldentulip.com


About Golden Tulip Hospitality Group

Golden Tulip Hospitality Group (www.goldentulip.com), with its head office Lausanne, Switzerland, is a worldwide hospitality company with more than 780 hotels, 76.000 rooms in more than 50 countries. The Golden Tulip Hospitality Group franchises and manages hotels in Europe, the Middle East & Africa, the Asian Pacific Region and the Americas. In 2007, Hotels Magazine has ranked this company the 18th largest hotel chain.

As a multi-brand hospitality firm, the Golden Tulip Hospitality Group offers services in the three, four and five star categories. The three-star concept is the Tulip Inn for the limited-service first-class category, the four-star category falls under the Golden Tulip brand for the Superior First-Class business and Resort hotels and the recently introduced five-star concept Royal Tulip. In addition Golden Tulip offers its services through its commercial alliance with TOP International, a German based hotel consortium.

In the fall of 2006, Golden Tulip introduced BRANCHE, Restaurant, Bar and Lounge. This is a free standing restaurant chain, which will have establishments in most Golden Tulip Hotels and Tulip Inns operated by Golden Tulip. (For more information please visit www.brancherestaurants.com)


For more information, please contact:

Golden Tulip Hospitality Group
Alexandra Alexandropoulou
Corporate Communications Manager
World Trade Center
Avenue de Gratta - Paille 2
1000 Lausanne 30 Grey
Switzerland
Tel: +41 21 641 1947
Fax: +41 21 641 1945
Email:alexandra.alexandropoulou@goldentulip.com

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