Swissotel Signs Management Contract with Litolier Group for Flagship Project in India

300-room Swissotel Grand Mumbai is Scheduled to Open in 2014

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. April 03, 2012

ZURICH - April 2, 2012 - Having successfully opened its first hotel in India - Swissotel Kolkata - in July 2010, Swissotel Hotels & Resorts, the international hotel group of Swiss origin signed a management contract for a flagship project in India: Swissotel Grand Mumbai. This is in addition to one more hotel under development for the brand in Bangalore.

Located on Andheri Kurla Road in the heart of the new business district in the north of Mumbai, the new Swissotel Grand Mumbai will offer a total of 300 guest rooms, executive rooms and suites. The hotel's conference and banqueting facilities will occupy a total area of around 1600m² including the main ballroom measuring 500m2 alone. The hotel will also have a sanctuary for relaxation and rejuvenation - the Pürovel Spa & Sport center.

The hotel is in close proximity to a number of new grade A offices occupied by numerous multinational companies. The Andheri Kurla area, which has approximately 20% of Mumbai's commercial office space supply, also features new shops and restaurants as well as a new metro line. Swissotel Grand Mumbai is strategically situated in this prominent business district of the city with easy access to the international airport, which is undergoing major redevelopment, and the rapidly expanding suburbs that are benefiting from improving transport connectivity. The five-star business hotel is due to open in 2014.

"This exciting project at the heart of Mumbai's commercial centre will drive forward our expansion in the highly promising Indian market,” commented Meinhard Huck, President Swissotel Hotels & Resorts. “India is the world's second-largest nation and the numbers involved are huge. India is set to become the world's third-largest economy by 2020 and consumer demand, particularly in the cities, is continually rising. A robust domestic tourism industry coupled with the increasing global nature of Indian businesses is boosting business travel and providing a very healthy platform for the growth of the hospitality industry. Amid this environment we see considerable potential for our hotel group and are pleased to be working with a renowned partner, the Litolier Group, which appreciates our Swiss values.“ HVS, a global services and consulting organisation focused on the hospitality industry served as advisor to the Litolier Group during the operator search and management contract negotiations.

Mumbai is the commercial and entertainment capital of India, it is also one of the world's top 10 centres of commerce in terms of global financial flow, generating 70 per cent of maritime trade in India and 70 per cent of capital transactions to India's economy. Mumbai is home to financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, the SEBI and the corporate headquarters of numerous Indian companies and multinational corporations.

About Swissotel Hotels and Resorts
Swissotel Hotels and Resorts (www.swissotel.com) is an award winning and distinctive group of deluxe hotels, combining renowned Swiss hospitality with contemporary design, personalised service, charm and efficiency. Located in popular gateway destinations and city centres, the hotels provide convenient access to business and shopping districts. The group's Swiss heritage ensures organisational competence, attention to detail, safety and a superlative guest experience.

The international hotel chain is owned by FRHI Holdings Limited, a leading global hotel company with 101 hotels and resorts worldwide under the Raffles, Fairmont and Swissotel brands. The company also manages Fairmont and Raffled branded Residences, Estates and luxury private residence club properties.

Hotels under development: Makkah/Saudi-Arabia (2012), Dresden/Germany (2012), Kiev/Ukraine (2012), Bangalore/India (2013), Odessa/Ukraine (2013) and Sochi/Russia (2013).