Golden Tulip And Inter Ikea Systems Holding B.V. Sign Letter Of Intent For A 140 Room Tulip Inn In Delft, The Netherlands

Golden Tulip Hospitality and Inter IKEA Systems B.V. together announce their intent for the joint development of a Tulip Inn next to the IKEA Concept Center in Delft, The Netherlands.

The hotel’s exterior and interior is being jointly developed by a team of experts from both companies using the stylish Golden Tulip and IKEA designs, including some of the latest IKEA furniture suitable for the hotel sector.

The IKEA Concept Center consists of all the parts of Inter IKEA Systems B.V. in Delft, including the IKEA Pilot Store and the IKEA Business College. This is a learning center for all IKEA retailers from all over the world. This creates a strong demand for appropriate hotel accommodations to meet their needs. For this reason, Inter IKEA Systems B.V. has been considering this hotel idea for several years and is now in co-operation with Golden Tulip to realise it next to the IKEA Concept Center in Delft along highway A13, between The Hague and Rotterdam.

The owner of the hotel will be Inter IKEA Systems Holding B.V. The operation of the 140 room Tulip Inn will be done by Golden Tulip operating division on a long-term lease basis.

The Tulip Inn Delft is expected to open at the end of 2007. The hotel will offer its guests 140 fully equipped rooms, a variety of conference rooms, sauna, fitness and relaxation facilities as well as a lounge/bar and a restaurant.

Thomas Bergström, Chairman and CEO of Inter IKEA Systems B.V. says, “Golden Tulip is an international hotel chain with a good reputation. We are looking forward to this co-operation between our companies to design and establish a hotel under the Tulip Inn brand. I am pleased to be able to offer our students at the IKEA Business College and other guests a staying and living option close to our IKEA Concept Center.”

Hans Kennedie, President and CEO of Golden Tulip Hospitality Group adds, “We are looking forward to this agreement and we consider it to be a valuable addition to our hotel management portfolio. I am confident that with the combination of the tools and services we provide and the international recognition of the IKEA brand, the Tulip Inn Delft will be successfully launched and operated reaching high turnover and international recognition. Needless to say it is Golden Tulip’s ambition to further this initiative and to look at more strategic co-operation possibilities with IKEA designs and locations.”

About Inter IKEA Systems B.V.
Inter IKEA Systems B.V. is the owner and worldwide franchisor of the IKEA Concept.
Today, there are 231 IKEA stores in 33 countries and territories. The INGKA Group owns and operates 204 IKEA stores in 24 countries and franchisees outside the INGKA Group own and operate 27 IKEA stores in 15 countries. The IKEA catalogue is the most important IKEA marketing channel. Last year 161 million copies were printed in 34 editions.
Since its founding in 1943, the IKEA business idea is to offer a wide range of well-designed functional home furnishing products at prices so low that as many people as possible will be able to afford them. The IKEA organization is recognized as a socially responsible company, and continuously supports initiatives that benefit causes such as children and the environment. To visit the IKEA web site, please go to http://www.IKEA.com

About the Golden Tulip Hospitality Group:

Golden Tulip Hospitality Group (www.goldentuliptop.com) with its head offices in Amersfoort, The Netherlands and Lausanne, Switzerland is a worldwide hospitality company with more than 500 hotels totalling approximately 47,000 rooms. The Golden Tulip Hospitality Group franchises and manages hotels in Europe, Middle East & Africa, Asia Pacific and the Americas. The company is ranked as the 18th largest hotel chain by Hotels Magazine.

As a multi-brand hospitality firm, the Golden Tulip Hospitality group offers services in the two, three and four star categories: on the two star side Golden Tulip has an alliance with the French hotel brand B&B, the three star concept is the Tulip Inn for the limited service first class category, the four star is under the Golden Tulip brand for the Superior First Class business and resort hotels, and in the suites and apartments Golden Tulip offers the Pacific International brand. The Pacific International brand is owned by Golden Tulip’s strategic shareholders the Australian company Tourism, Hotels, and Leisure (THL). Golden Tulip furthermore offers services through its commercial alliance with TOP International, a German based hotel consortium.

For more information, please contact:

Ms. Rocio Manzanares - Corporate Communication Manager
Golden Tulip Hotels, Inns & Resorts
Tel: +31 33 2544 828
Fax: +31 33 2544 816
E-Mail: press@goldentuliptop.com