Singapore, April 22, 2003 � In a major boost to its long-established presence in Thailand, InterContinental Hotels Group (IHG) today announced that it will assume the management of two hotels in central Bangkok, to join its InterContinental and Holiday Inn brands as InterContinental Bangkok and Holiday Inn Bangkok. 

IHG will commence management of both hotels from July 2003. The 381-room Le Royal Meridien Bangkok will then be rebranded to become InterContinental Bangkok. The second hotel with 377 rooms, Le Meridien President Bangkok, will undergo a US$13 million renovation and reopen as Holiday Inn Bangkok in early 2005.
 

The deal marks the start of a long term relationship between IHG, President Hotel and Tower (PHT) and the Srivikorn and Charoen-rajapark family group of Thailand. It continues IHG�s heritage of lasting associations with prominent Thai partners, notably the 40-year Siam InterContinental Bangkok partnership that was finalised last year with the closure of that hotel for site redevelopment.  Chalermbhand Srivikorn, Chairman of PHT said �After a long period of very

Le Méridien President 971 Ploenchit Road Bangkok, Thailand

A. Patrick Imbardelli, Managing Director, InterContinental Hotels Group Asia Pacific said, �We are honoured and proud to have secured a long term relationship with the Srivikorn and Charoen-rajapark families and are delighted to be adding these two important properties to our portfolio. The PHT properties enjoy an imposing presence in the heart of Bangkok, while the owning families have a very strong track record of successful, long term ventures in hotels, property and other sectors. Through our collaboration with PHT, we can again offer our guests superb InterContinental accommodation in Bangkok and begin a renovation programme that will lead to an exemplary Holiday Inn hotel�.

The InterContinental Bangkok and Holiday Inn Bangkok are located in Bangkok�s central business district and are ideally situated for both business and leisure travellers. The two new hotels will further enhance the wide range of destinations and experiences IHG offers its guests travelling to or within Thailand, and will further extend IHG�s industry leadership in Asia Pacific.

The two new hotels will add to IHG�s established portfolio in Thailand, which includes Crowne Plaza Bangkok, Holiday Inn Resort Phi Phi Island and Holiday Inn Resort Phuket.

InterContinental Hotels Group PLC of the United Kingdom, owns, manages, leases or franchises more than 3,300 hotels and 515,000 guest rooms in nearly 100 countries and territories around the world (www.ichotelsgroup.com). The Group owns a portfolio of well recognised and respected hotel brands including InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn, Express by Holiday Inn and Staybridge Suites, and also has a controlling interest in Britvic, the second largest soft drinks manufacturer in the UK.