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 Panorama Hospitality K.K. Re-branding the Hotel Sunflower Sapporo
as a Ramada® Hotel
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TOKYO, December 14, 2005 – Panorama Hospitality K.K. today announced that the Hotel Sunflower Sapporo will be re-branded as a Ramada® hotel, a Cendant Hotel Group brand.  The hotel, which is managed and operated by Panorama Hospitality, will commence operations as the Ramada Sapporo on April 1, 2006 and will be operated under a franchise agreement with Ramada International.  The re-launch of the hotel as the Ramada Sapporo, follows the re-branding of the Toyo Hotel as the Ramada Osaka on Jan. 15, 2006. 

The hotel is currently being extensively renovated, including the lobby, restaurant and banquet areas, as part of the re-branding process.  In the newly renovated lobby area a new theme restaurant “MIDI NUI,” which provides a relaxed dinning experience, will open on Dec. 20, 2005.  The first “MIDI NUI” restaurant was opened at the Shin Kobe Oriental Hotel in 2000.   

"Underscoring our focus on Japan, the establishment of this new Ramada hotel in Sapporo is an important step for our business development,” said Reas Kondraschow, senior vice president & managing director, Cendant Hotel Group International, Inc.  “We are pleased to again be partnering with Panorama Hospitality, which shares our commitment to offering Ramada customers a high quality, good value hotel experience.” 

"The Ramada brand and access to the resources of Cendant Hotel Group International will add considerable value and profile to the centrally located hotel,” said Robert Wilson, president of Panorama Hospitality K.K.  “Sapporo is a key destination for domestic and international business travelers and tourists.  We believe that they will welcome the addition of such an internationally recognized brand to the city.”  

About Panorama Hospitality K.K.
Panorama Hospitality K.K. is a hotel management and consulting company, which manages and operates a portfolio of 13 hotels owned by Morgan Stanley’s real estate funds in Japan and the Asia Pacific region. The funds acquired the Toyo Hotel in September 2004. Panorama Hospitality K.K is a wholly owned subsidiary of the Morgan Stanley group. 

Morgan Stanley (NYSE: MWD) is a global financial services firm and a market leader in securities, investment management, and credit services. With more than 600 offices in 28 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations.

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Contact:

Panorama Hospitality K.K.
Minako Hoshino / Tel:813-4570-8210

Also See: Cendant Hotel Group Integrates with Former Ramada International Employees to Create New International Structure / December 2004
Morgan Stanley Creates Hotel Management Company, Panorama Hospitality K.K., to Manage 13 Hotels in Japan and Asia Pacific / September 2005

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