Press Room

23RD MAY 2006


GOLDEN TULIP ADDS, IN LAGOS, NIGERIA, A SECOND HOTEL UNDER MANAGEMENT IN THE WEST AFRICAN REGIONGolden Tulip Hospitality Group to operate first hotel in Nigeria; the Golden Tulip Princess Emotan

Amersfoort (NL)/Lausanne (CH), 23 May 2006 – Golden Tulip Hospitality is proud to announce the signing of a management agreement for Golden Tulip Princess Emotan effective as per January 1st 2007.

The Golden Tulip Princess Emotan will be operated by Golden Tulip West Africa Ltd., a joint venture between Lionstone Ltd. and Golden Tulip.

Golden Tulip Princess Emotan will be a Superior First-Class International African-Style Business Hotel with 54 superior guestrooms and centrally located in the business district of Apapa, a suburb of Lagos City and the International Airport. 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, an a la carte restaurant, and a pool bar.

Mr. Innocent Ovbagbedia, Director of Golden Tulip Princess Emotan comments: “We are delighted to sign a management agreement with Golden Tulip West Africa. The combination of the international Standards and Golden Tulip’s commitment to the local flavours were decisive in our decision to have Golden Tulip operate our property. The hotel is currently under construction and will be completed by the end of the year.

Mr. Amaechi Ndili, Chairman of Golden Tulip West Africa stated: The signing of the Golden Tulip Princess Emotan marks for us the first hotel to be operated in Lagos, Nigeria. The objective of Golden Tulip West Africa is to add several Superior First Class Hotels across the Western Region of Africa, from Senegal to Angola. Today, Golden Tulip West Africa will count already two hotels, the Golden Tulip Accra in Ghana and now the Golden Tulip Princess Emotan in Lagos.

Mr. Hans Kennedie, President & CEO of Golden Tulip Hospitality, adds: “We are extremely pleased that we have been able to secure our first hotel in Lagos. Nigeria and Lagos in particular, are very much engaged in an economic and social development reform program. Golden Tulip is pleased that through this hotel we will be playing an important role in this market. It also marks the success of our global expansion strategy through regional joint ventures. Golden Tulip West Africa will soon be announcing further expansions.”

Golden Tulip’s portfolio in the African Continent comprises of 11 hotels in Egypt, Morocco, Ghana, Tanzania and Tunisia.

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
Tel: +41 21 641 1947
Fax: +41 21 641 1945

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