THL announces major expansion in Australia

Tourism, Hotels & Leisure Limited (THL) today announced five new major hotel signings in Australia and Thailand, including the launch of a new deluxe hotel brand – Grand Pacific Suites & Resorts – into the Australasian marketplace.

In a joint statement by THL’s Managing Directors and CEOs – Simon Wan and Nigel Corne – the five new hotel agreements will increase the Sydney-based global accommodation management company’s brand portfolio to 57 properties throughout Australasia, with further plans for continuing expansion in the region.

Simon Wan, Joint Managing Director & CEO – THL said ”The new signings are evidence of the company’s faith and commitment in the Australian economy and are a reflection of THL’s dynamic growth and continued expansion in the Australasian hospitality sector.

The five new hotel agreements are located in key metropolitan locations and popular regional tourism hubs in Victoria, Queensland and Thailand.

Over the past 18 months, THL has acquired several new hotel brands and the new Grand Pacific brand will be positioned as the deluxe flagship brand in the Asia Pacific market. Grand Pacific Suites & Resorts will provide contemporary, spacious hotel suites, all with open-plan living areas of a luxury standard that will set a new benchmark in the region”.

Today’s announcement follows the cross shareholding agreement entered into between THL and Golden Tulip announced in January this year, that saw THL take a 30% equity stake in Golden Tulip and Golden Tulip take a 19.9% stake in THL.

“Through THL’s strategic partnership with Netherlands-based global hotel operator Golden Tulip Hotels, Inns and Resorts, we are the exclusive development partner for the new Golden Tulip brands in Asia Pacific and negotiations for several additional properties under these brands are also nearing finalisation” added Nigel Corne.

The five new signings scheduled for progressive launches from February 2006 are:-

Tulip Inn Cosmopolitan St. Kilda, VICTORIA
Superior First Class (86 rooms) property re-branding in February 2006
Located in Melbourne’s vibrant beachside entertainment precinct

Golden Tulip Melbourne, VICTORIA
Moderate Deluxe (280 rooms) property in the prime business precinct of Melbourne,
Victoria
Scheduled to open in early 2006 to coincide with the Commonwealth Games

Grand Pacific Sovereign Resort, THAILAND
Deluxe (244 rooms) resort opening in May 2006
Located in famous regal summer vacation beach area south of Bangkok

Pacific International Suites Warrnambool, VICTORIA
Moderate Deluxe (75 rooms) property opening in November 2006
Located in Victoria’s famous Great Ocean Road coastal town

Grand Pacific Resort Port Douglas, QLD
Deluxe (180 rooms) resort opening late 2007
Superbly designed destination resort located in world renowned tropical coast of Far North Queensland

Based on the number of hotel rooms in its global network the combined THL and Golden Tulip group is now the 14th largest hotel network in the world, with more than 500 hotels in 350 destinations, throughout 42 countries, worldwide.

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