Agreement signed with Shanghai Eastern Airline for a 283 rooms Hotel, which will be called the Shanghai Eastern Airline Hotel.

Golden Tulip is proud to announce its first hotel in China; the Golden Tulip Shanghai Riverside. The Swiss-Dutch based hotel company will assume management as per the 1st of April, 2007.

GAO Jiankang, Chairman of Board of Directors of Shanghai Eastern Airline Hospitality Co., states: "It is with great enthusiasm that we embark into this partnership with Golden Tulip. We believe that Golden Tulip has outstanding tools, systems and services to turn the hotel around into a leading preferred hotel in an international level whilst maintaining its local flavours. This will enable the hotel to achieve worldwide recognition and high revenues."

Hans Kennedie, president and C.E.O. of Golden Tulip Hospitality, comments: "We are delighted and very excited to welcome the first hotel in China. It is our goal to have a Chinese network of 200 hotels across the country in the medium to long term and we are proud to be able to enter with such a landmark property."

The Golden Tulip Shanghai Riverside is a 4-star superior first class hotel located in the north of the city. The hotel is of only on walking distance away from the Zhengping Road station of Metro line No.3(the Pearl Rail Line) and Metro line No.4 which connecting Puxi to Pudong, and it is also close to the Zhengping exit of elevated highway. The hotel is a 10 minute drive away from the railway station, 15 minutes from Hongqiao Airport and 45 minutes from Pudong Airport. Golden Tulip Shanghai Riverside has 283 guestrooms and suites. All rooms are equipped with ADSL, data port, satellite TV, mini bar and IDD.

Further hotel facilities include:

• Conference area and business centre
• Sauna and beauty salon
• Entertainment area (Chess, karaoke, cards)

Shanghai is a large and rapidly developing city, but also has a long and majestic history. You should not miss visiting the exhilarating skyscrapers and modern parks of Pudong, taking a walk along the historical Bund or shopping for bargains on Nanjing road or in the many markets such as Huaihai road market. Yuyuan gardens are considered as part of the cultural heart of Shanghai, with wonderful architecture and all the snack food and bazar atmosphere you could want. Whether you're in Shanghai for business or pleasure, make sure you visit a few of the charming places the "Pearl of the East" has to offer.