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Press Room

17TH MAY 2006  (EN NL DE IT)

GOLDEN TULIP TAKES OVER THE MANAGEMENT OF GOLDEN TULIP ACCRA

GOLDEN TULIP TAKES OVER THE MANAGEMENT OF GOLDEN TULIP ACCRAGolden Tulip Hospitality Group to operate first hotel in the Western African Region and aims to grow substantially in the coming years.

Golden Tulip Hospitality is proud to announce the signing of a management agreement for Golden Tulip Accra effective as per July 2006.

The Golden Tulip Accra is owned by GLAHCO Hotels & Tourism Development Company Ltd. and has been with Golden Tulip under a franchise agreement since 1992.

Golden Tulip Accra is a first class African Style Business Hotel with 234 superior guestrooms and centrally located in the developing business district of Accra. The hotel is set in spacious grounds with surrounding tropical gardens ideal for both business and leisure guests. The hotel offers various business and relaxation facilities such as a Piano Lounge, the “Ahengua Grill” an a la carte restaurant, pool bar, meeting rooms for up to 300 delegates and a casino.

Mr. Ernest Asamoah, Executive Director of GLAHCO Hotels & Tourism Development Company Ltd. comments: “We are delighted to sign a management agreement with Golden Tulip Hospitality Management. In today’s climate, there is a strong need for rationalizing hotel operations and with the international recognition of Golden Tulip, I feel the Golden Tulip will be in a good hands to continue delivering positive returns and subsequently increase its property value:”

Hans Kennedie, Managing Director & CEO of Golden Tulip Hospitality, adds: “We are extremely pleased with the addition of Golden Tulip Accra to our Hotel Management portfolio. This hotel has been with Golden Tulip under a franchise agreement for over 14 years and we look forward in implementing our management formula to continue to position itself highly in the hospitality world.”

Golden Tulip’s portfolio in the African Continent comprises of 10 hotels in Egypt, Morocco, Ghana, Tanzania and Tunisia.

About GLAHCO Hotels & Tourism Development Company Limited


GLAHCO Hotels and Tourism Development Company is a subsidiary of Ghana Libyan Arab Holding Company a joint venture between the Governments of Ghana and Libya. The joint investment has other investments in agro business and real estate in Ghana.

GLAHCO Hotels & Tourism Development Company Limited owns Golden Tulip Accra and has since 1992 collaborated with Golden Tulip to operate the highly successful Golden Tulip Accra.

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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