Golden Tulip has been awarded the management contract, for a new hotel in the Ghanaian city Kumasi, the property will feature 160 rooms and is scheduled to open December 2007 -

The Golden Tulip Kumasi City will consist of 160 rooms, suites and apartments, a large conference & function room with capacity up to 500 persons, several meeting areas, a bar lounge, a restaurant and extensive leisure facilities. The hotel is set in spacious grounds with surrounding tropical gardens ideal for both business and leisure guests, and will be fully operated by Golden Tulip Hospitality Management Ltd.

Mr. A.M. Karmus, Managing Director of Glahco comments: "We are delighted to sign a second management agreement with Golden Tulip Hospitality Management. In today's climate, there is a strong need for rationalizing hotel operations and with the international recognition of Golden Tulip, I feel the Golden Tulip Kumasi City will be in a good hands to continue delivering positive returns and subsequently increase its property value:"

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

Mr. H. Friese, Vice President West Africa of Golden Tulip Hospitality Group adds: "After fifteen years of successful operations in Accra we are delighted with the extension of our operation in the important city of Kumasi with the Golden Tulip Kumasi City. The business climate in Ghana has proven to be fruitful and stabile and we look forward to receiving our first guests and to introduce our products and services in Kumasi."

With the addition of the Golden Tulip Kumasi City, Golden Tulip's portfolio in the African Continent comprises of 11 hotels in Ghana, Tanzania, Egypt, Morocco and Tunisia.