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Italian Real Estate Company, Statuto Group, Transforming Milan's
Grand Hotel Duomo Hotel to the InterContinental Milan
Grand Hotel Duomo
 
MILAN, Italy, June 1, 2007 -- InterContinental Hotels Group (IHG), the owner of the InterContinental Hotels & Resorts brand, announced today the signing of a management agreement with Statuto Group for the new InterContinental Milan Grand Hotel Duomo.
 
Set on Milan’s spectacular Piazza Duomo, in a building dating back to 1860 that was originally built entirely from marble, the InterContinental Milan Grand Hotel Duomo is scheduled to open in 2008 after a significant renovation. 
 
IHG is working closely with Statuto Group to transform the existing building - the Grand Hotel Duomo – into one of Europe’s finest hotels, and to further establish the InterContinental hotel brand as a benchmark of quality and luxury in Europe and around the world.
 
The Grand Hotel Duomo first opened as a luxury property in 1950 and has welcomed guests including The Beatles, Ernest Hemingway and Giacomo Puccini. Featuring 137 contemporary and stylish guest rooms, including 17 suites, the hotel will offer the facilities and luxury associated with the InterContinental brand and, in doing so, will appeal to both leisure and business travellers visiting the city. 
 
Featuring a new top floor signature restaurant - with a soon-to-be named leading chef - boasting fabulous views across the square, a spa and health club, as well as three meeting rooms for corporate clients, the renovation and re-design will work to complement Milan’s vibrancy and will continue a long tradition of quality and excellence to become a true landmark destination in the city.
 
Dominating the north side of the Piazza Duomo, with an impressive terrace and unrivalled views of Milan’s Cathedral, the property will be perfectly placed for guests eager to discover the city’s history and culture.  Nearby highlights include the world-famous La Scala opera house and an array of boutiques and fashion houses, while corporate clientele will benefit from its location close to the city’s financial district, just 20 minutes from Milan Linate airport and good connections to Milan’s underground system. 
 
Jennifer Fox, Chief Operating Officer, InterContinental Hotels & Resorts, Europe, commented:  “This is a major project for us; Italy is an extremely important destination for InterContinental Hotels & Resorts and we are absolutely delighted we have managed to secure such a great location to further our brand presence in the country. We believe that this new property will continue to strengthen our position in a market to which we are committed and we are extremely proud to be working with Statuto Group on the development.”  
 
Giuseppe Statuto, Chairman of Statuto Group, added: “We are delighted to be working with InterContinental on this exciting development.  Milan is a hugely popular leisure and business destination and we believe that our development plans for the InterContinental Milan Grand Hotel Duomo will ensure we lead the field in five-star accommodation.”
 
About Statuto Group
Mr. Giuseppe Statuto, owner of Statuto Group, is one of the most prominent private real estate investors in Italy, with the objective of an international expansion, presently just started in London. The overall business strategy is to consolidate the investments in prime locations of the most important destinations and markets worldwide. Mr. Statuto's main activities are related to residential real estate development, private management, and the luxury hotels segment. Statuto Group's hotel portfolio includes some of the most prestigious worldwide landmarks, such as the Hotel Danieli in Venice, a Luxury Collection Hotel, the Four Seasons Hotel Milan and the Crowne Plaza London - The City. The Group has important relationships with prime international luxury hotel companies (Starwood, Four Seasons, InterContinental), in order to guarantee each property has the highest quality, reflects the best performance, and increases in asset value. 

InterContinental Hotels Group PLC (IHG) of the United Kingdom [LON:IHG, NYSE:IHG (ADRs)] is the world's largest hotel group by number of rooms.  IHG owns, manages, leases or franchises, through various subsidiaries, over 3,700 hotels and more than 558,000 guest rooms in nearly 100 countries and territories around the world. IHG owns a portfolio of well recognised and respected hotel brands including InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites® and Hotel Indigo®, and also manages the world's largest hotel loyalty programme, Priority Club® Rewards, with over 33 million members worldwide. IHG's portfolio within Italy numbered 52 properties as of 31 March 2007, comprising one InterContinental, five Crowne Plaza, 32 Holiday Inn and 14 Express by Holiday Inn hotels.

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Contact:

 IHG
www.ihg.com

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Also See: Deal of the Year Awards Winners Announced at the International Hotel Investment Forum in Berlin, Germany / March 2007
Starwood to Sell Historic Hotel Danieli in Venice for Approximately $244 million; Retains Long-term Management Agreement / May 2005
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