Expanding operations in the Swiss market aims to reinforce the brand's international recognition.

Golden Tulip Hospitality Group signs Letter of Intent for Tulip Inn Etoy in Switzerland with Société Immobilière Littoral Parc SA.

Tulip Inn Etoy will be located in Littoral Parc, 20 minute drive from Lausanne and 30 minute drive from Geneva International Airoport. Littoral Parc is in the heart of the canton of Vaud, an area currently popular among many international businesses, with high expectations to prospect in the near future.

The development project of this 70.000 m2 area is consisted of an already constructed small shopping centre, an 80-room home for senior people, four office buildings totaling for 20.000m2 as well as the Tulip Inn. The construction of the hotel is bound to start in July 2008.

The three-star Tulip Inn Etoy will be comprised of 100 rooms and a BRANCHE Restaurant, Bar & Lounge. In addition, Simply Meet, the Golden Tulip meeting concept, featuring three conference rooms each with a seating up to 20 people and with a possibility of connecting the rooms, will be available as well as indoor and outdoor parking amenities.

Hans Kennedie, President and CEO of Golden Tulip Hospitality Group comments: "With great joy Golden Tulip starts expanding its operations in the Swiss market. We have confidence that we can provide this new hotel the necessary tools and services to enter the Swiss hospitality industry successfully as well as to reinforce Golden Tulip's international recognition."

José Silva, the Chairman of the Board of Directors of Société Immobilière Littoral Parc SA continues: "Our company is very happy that the hotel will be operated by an international, experienced and professional company like Golden Tulip. We can now focus on the development of over 20'000 m2 of offices in the area."

With the addition of the Tulip Inn Etoy, the Golden Tulip Hospitality Group's portfolio will consist of a total of 784 hotels.