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Press Room

20 FEBRUARY 2009  (EN NL)

GOLDEN TULIP HOSPITALITY GROUP SIGNS DEVELOPMENT AGREEMENT TO LAUNCH GOLDEN TULIP RUSSIA

GOLDEN TULIP HOSPITALITY GROUP SIGNS DEVELOPMENT AGREEMENT TO LAUNCH GOLDEN TULIP RUSSIALausanne (CH), 20th February 2009 – Golden Tulip Hospitality Group, has signed a development and representation agreement with IFK Hotel Management, a Moscow-based hotel management company.

Golden Tulip proudly announces the recently signed development & representation agreement with the Russian hotel management company, IFK Hotel management. This agreement enables the Golden Tulip Hospitality Group to continue its growth by entering the promising Russian market.

IFK Hotel Management is a professional company specializing in hotel and (hospitality related) property management in Russia. As official representative of Golden Tulip Hospitality Group, IFK hotel management will bring forward the brands Tulip Inn, Golden Tulip, Royal Tulip, George & CO and BRANCHE Restaurant, Bar & Lounge.

Hans Kennedie, President & C.E.O. of Golden Tulip Hospitality Group comments: “We are very pleased to announce Golden Tulip’s first entry into the Russian Federation and the co-operation with IFK Hotel Management. The years of experience on the Russian hospitality market of Mr. Izmaylov and his management team will be of high value for the global development of the Golden Tulip portfolio.”

Marsel Izmaylov, CEO of IFK Hotel Management, adds: “Golden Tulip’s brand recognition and its proven success track record gives us the necessary tools to develop new projects in this region. I am delighted to be a partner of Golden Tulip Hospitality Group and intend to put Golden Tulip’s brand into leadership positions in the Russian market. I am sure we can bring “local flavours” to almost half a century hospitality traditions of Golden Tulip.”.

About IFK Hotel Management
IFK Hotel Management is an independent company specializing in the professional management of hotels and hotel complexes located in the territory of the Russian Federation. For more information on Golden Tulip’s new Russian partner, please check: www.ifk-hm.com.

Golden Tulip Hospitality Group
Ms. Iris van de Beek
Corporate Communications
Avenue de Gratta-Paille 2
1000 Lausanne - Switzerland
Tel: +41 21 510 1512
Fax: +41 21 510 1599
E-Mail: iris.vandebeek@goldentulip.com
Web: www.goldentulip.com
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