InterContinental Hotels Group today announced its plans to extend its
leadership in luxurious accommodations to target the meetings market in
Thailand with the development of Crowne Plaza Sukhumvit Bangkok. The new
build hotel will be opened in January 2006 and is owned by Grande Asset
Development Co Ltd.

"With Bangkok as one of Asia's key gateway cities and conference venues,
the meetings market holds great potential and is a revenue generator for
the hospitality industry in Thailand," said Khun Pongpahn Sampawakoop,
Managing Director, Grande Asset Development Co Ltd. "Through our
partnership with InterContinental Hotels Group, we can now leverage its
depth of management experience, expertise, specialised resources and
brand strength to deliver a compelling meetings product to capture a
growing share of this market. As the place to meet, the proposed Crowne
Plaza Sukhumvit Bangkok is uniquely positioned with a suite of
differentiated business offerings that meet the needs of both meeting
planners as well as business travellers and convention participants."

Khun Suradej Narula, Managing Director, Grande Asset Development Co Ltd,
added, "As a hotel owner, our main priority is to drive profitability
and increase room occupancy in our properties. With 10 million guests
staying at InterContinental Hotels Group's hotels per year, the group
offers us a much expanded audience that we can target to drive returns
to the hotel. In addition, our hotel can now benefit from
InterContinental Hotels Group's extensive global distribution network
and pool of 18 million Priority Club Rewards members globally - one of
the largest loyalty programmes in the hotel industry".

A. Patrick Imbardelli, Managing Director, InterContinental Hotels Group
Asia Pacific said, "We are delighted to have the privilege of partnering
with the Narula family and Khun Pongpahm Sampawakoop. Both bring a
wealth of experience in successful hotel developments in the country and
will significantly contribute to ensure that the proposed Crowne Plaza
Sukhumvit Bangkok will become a choice brand with its unique business
offerings specifically tailored to international business travellers."

"We are very excited about the proposed Crowne Plaza Sukhumvit Bangkok
as this will be our sixth and latest addition to our brand portfolio in
Thailand. This is a strong testament to our commitment to Thailand as we
will continue to roll out our strategic growth plans in this key growth
market. The InterContinental Hotels Group is indeed on the move in Asia
Pacific, seizing opportunities to build value for our partners and to
enhance our offerings to our valued customers," he added.

The proposed Crowne Plaza Sukhumvit Bangkok boasts 400 guest rooms and
is strategically located in the heart of Bangkok's retail and commercial
district. It is conveniently situated close to Queen Sirikit Convention
Centre, a popular venue for conferences in the city and is minutes away
from the Bangkok Transit System (BTS). The proposed hotel will include
premium restaurants, bars, banquet and conference facilities, as well as
a health club and spa.