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Karmar, S.A. Signs Franchise Agreement with InterContinental Hotels to
Open the Crowne Plaza Asuncion in Paraguay

MIAMI, Fla. (April 15, 2005) -- InterContinental Hotels Group (IHG) (LSE:IHG) (NYSE:IHG) (ADRs), one of the world's largest and most global hotel companies, has signed a franchise agreement with Karmar, S.A. to open the Crowne Plaza Asuncion in Paraguay's capital.

"When this Crowne Plaza opens in July, IHG will add Paraguay to our long list of global destinations," says Alvaro Diago, area president, InterContinental Hotels Group Latin America. "IHG will now have representation in almost every key city in Central and South America."

The Crowne Plaza Asuncion, owned by Karmar, S.A., and whose major shareholder is Osvaldo Dominguez Dibb, is located in Asuncion's historic district. The hotel will have 74 guestrooms and consist of two towers. The first tower, formerly the "Hotel Estella Italia" building which was totally renovated will have 28 guestrooms. The newly built second tower will have 46 guestrooms.

Founded in 1537 on hills along the Paraguay River, Asuncion's colonial past is reflected in the Palacio de Gobierno, just a few blocks from the new IHG property. With a population of 600,000, Asuncion is the shopping, financial and business center for the Spanish-speaking nation, which lies between Brazil, Bolivia and Argentina.

Other cultural attractions include a Spanish-era cathedral and archeological museum. Many visitors enjoy sipping terrere, a local drink, and "people-watching" from the city's many outdoor cafes. Other popular activities include visiting Asuncion's botanical gardens, which feature more than 100 species of tropical plants, and enjoying a scenic cruise on the Paraguay River. For visitors, Paraguay's national parks, Jesuit missions and the Chaco wilderness plain are among the major attractions.

The Crowne Plaza Asuncion hotel amenities will include an outdoor pool and fitness center, a lobby bar with outdoor cafe seating that will be open to the public and two Crowne Club floors.

"We are extremely proud of this announcement," said Diago. "We have set our goals for growth, so this is a great milestone for us, as one of our goals is to continue extending our properties in new territory."

Recently, IHG opened a Crowne Plaza property in Curitiba, Brazil; and converted a Holiday Inn Hotel & Suites into a Crowne Plaza in Panama City, Panama. In addition the Crowne Plaza in Buenos Aires, Argentina was completely renovated. In June, the Crowne Plaza Guatemala will be opening as well.

As part of the InterContinental Hotels Group global portfolio, Crowne Plaza Hotels & Resorts has more than 200 hotels in 48 countries, and are located in major urban centers, gateway cities and resort destinations.


Also See: LaSalle Investment Management Giving the Karon Villa Phuket Beach Resort a US$20 million refurbishment, Appoints InterContinental Hotel Group to Manage as a Crowne Plaza Hotel / May 2004

Rollout of Crowne Plaza's Holistic Approach to the Entire Sleep Environment Completed / October 2004

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