LAUSANNE, Switzerland, October 9, 2008. Golden Tulip Hospitality Group is proud to announce the signing of the agreement to operate the Tulip Inn Etoy. It is the group’s first managed hotel in Switzerland and it will open its doors during the first quarter of 2010.

Tulip Inn Etoy will be located in Littoral Parc and will comprise 100 rooms. Littoral Parc is situated 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. In addition to the Tulip Inn, the development project of this 70.000 m2 area consists of an already constructed small shopping centre, an 80-room home for senior people and four office buildings totaling 20.000m2. The construction of the hotel is bound to start in December 2008.

The hotel will be fully implemented with Golden Tulip’s additional services, such as BRANCHE Restaurant, Bar & Lounge and Simply Meet, Golden Tulip’s meeting concept. Three conference rooms will be available, each with a capacity up to 20 people and with the possibility of being connected to the others, as well as indoor and outdoor parking amenities.

Hans Kennedie, President & C.E.O. 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.