GOLDEN TULIP TAKES OVER THE GOLDEN TULIP PATERSWOLDE-GRONINGEN IN THE NETHERLANDSGolden Tulip Hospitality and The Westermeijer Group reinforce their cooperation through the signing of the third lease agreement in
The Netherlands. Golden Tulip Hospitality now manages 10 hotels in The Netherlands and 48 worldwide.

Amersfoort (NL)/Lausanne (CH), 12 September 2006 – Golden Tulip is proud to announce the expansion of its management portfolio with the Golden Tulip Paterswolde-Groningen. The Westermeijer Group has purchased the real estate from Koop Holding Europe B.V. Golden Tulip will be operating the hotel under a long term lease agreement.

The Golden Tulip Paterswolde-Groningen has been with Golden Tulip under a franchise agreement for over 6 years. The hotel has become the 10th hotel operated by Golden Tulip in the Netherlands and the 48th worldwide.

This renowned hospitable and luxurious hotel has been in the North of the Netherlands since 1888. The hotel is uniquely situated on the banks of the lake Paterswolde, whilst the lively city of Groningen and the wooded province of Drenthe are just a stone’s throw away. The hotel is the ideal base for business meetings and training sessions, as well as for family parties or relaxing weekend trips.

Golden Tulip currently franchises and manages over 72 hotels in the Netherlands.

Mr. Johan Westermeijer, shareholder of the Westermeijer Group, states: “I am very pleased to sign the third agreement with Golden Tulip Hospitality. In today’s climate, there is a strong need for rationalizing hotel operations and with the strong presence the Golden Tulip brand has in the Netherlands, I feel this acquisition will be in good hands to continue delivering positive returns and subsequently increase its property value.”

Mr. Hans Kennedie, Managing Director & CEO of Golden Tulip Hospitality, adds: “Golden Tulip is proud of this new addition to its hotel operated portfolio. The Golden Tulip Paterswolde-Groningen is the tenth hotel that we operate in The Netherlands. I am confident that with the complete implementation of our business formula the hotel will continue to position itself highly in the Dutch hospitality world.”

About the Westermeijer Group:

The Westermeijer Group (www.westermeijer.nl) is an independent family business that has more than 35 year experience in the area of commercial real estate. Through means of a successful integrated service the Westermeijer Group adds to this branch added value to her customers’ circle that consists of national as well as international institutional and private investors, owners and users of real estate.

In the area of commercial real estate the Westermeijer Group has in more than 35 years built up a careful relation network with institutional and private investors. Furthermore the Westermeijer Group has among others acquired and renovated strikingly old office buildings. Brilliant examples of these are ‘The White House' and the 'Hulstkamp -building' in Rotterdam, the tax office 'Westpoint' in Apeldoorn, the ‘Dutch Bank' across the north end Palace in the Hague and the 'Vesta building' in Arnhem (head office Westermeijer Group).

The investment portfolio of the Westermeijer Group consists for the largest part of office buildings (a.o. “Vesta-building” in Arnhem, “Westpoint-complex” in Schiedam, “Westpoint-complex” in Apeldoorn), business/office spaces (a.o. “Keurenplein-complex” in Amsterdam, “Ericsson-complex” in Stein, “Rabobank-complex” in Nuth), stores and shopping centers. Furthermore large house-construction projects, apartments complex (a.o. 1.660 appartments in Germany), hotels (a.o. “Golden Tulip Wageningen” in Wageningen, “Golden Tulip Winterswijk” in Winterswijk, “Golden Tulip Paterswolde” in Paterswolde-Groningen) and large-scale recreation projects (a.o. Country Estate “Hunzebergen” in Exloo) make part of the Westermeijer Group self managed investment portfolio.

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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