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Press Room

20TH SEPTEMBER 2007  (EN DE)

GERMANY: GOLDEN TULIP WELCOMES HOTEL IN BAD REINCHENHALL

GERMANY: GOLDEN TULIP WELCOMES HOTEL IN BAD REINCHENHALLGolden Tulip Hospitality Group welcomes 11th hotel to its management portfolio in Germany and 65th worldwide.

Amersfoort (NL)/Lausanne (CH), 20 September 2007- Golden Tulip Hospitality and EuroTrade Hotels B.V. sign lease agreement for Golden Tulip Bad Reinchenhall effective as per August 1st 2007.

The Golden Tulip Bad Reinchenhall is located one hour drive from Munich and 15 minutes driving from Salzburg airport. The hotel offers full service first class with 83 guest rooms, meeting rooms for up to 200 people and a restaurant and bar.

The Golden Tulip Bad Reinchenhall will offer 83 modern and spacious guestrooms catering both the needs of business and leisure travelers. The hotel will be fully implemented with Golden Tulip’s design room concept, a brand new BRANCHE Restaurant, Bar & Lounge as well as Golden Tulip’s unique meeting concept “Let’s Meet Again”.

Harry Blik, Director of EuroTrade Hotels Europe III B.V. comments: “It is with great excitement that we embark into this project, we are confident that Golden Tulip’s international recognition and successful formulas will bring business and brand awareness to this hotel.”

H.W.R. Kennedie, President & C.E.O. of Golden Tulip Hospitality Group adds: “Golden Tulip is delighted with this new addition to its German hotel portfolio. We are confident that Golden Tulip will provide this new hotel the necessary tools and services to enter the German hospitality industry successfully together with an international recognition.”

Earlier this summer Israeli firm Eurotrade Real Estate International and Golden Tulip Hospitality entered into an agreement in which Eurotrade would acquire hotels in Europe, the USA and Asia and Golden Tulip would operate them. The partnership aims to have a portfolio of approximately 25 hotels within the next three years.

With the addition of the Golden Tulip Bad Reinchenhall the current hotel portfolio in Germany comprises of 17 franchised and managed hotels in 13 cities.

About EuroTrade
EuroTrade Hotels BV is a fully owned subsidiary of Eurotrade real Estate International (YNB) Ltd, ("ETRE") an Israeli corporation which its securities are publicly traded at the Tel Aviv Stock Exchange. ETRE focuses on acquiring and adding value to its income producing assets portfolio in Europe mainly. ETRE is managed by Amit Biel as Chairman and Boaz Kamar as CEO.
ETRE strategy is to invest in long term leased asset which reflect low risk with adequate return and potential upside. Its portfolio of 50,000 Sq meter characterized by low risk to its investment and yielding around 8% net (NOI).

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 1957
Fax: +41 21 641 1945
Email:alexandra.alexandropoulou@goldentulip.com

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