Hotel Online  Special Report


 J&T Global Signs Starwood's Newly Acquired Brand Le Meridien
to Manage Planned Hotel in Prague, Czech Republic
WHITE PLAINS, N.Y. - Dec. 12, 2005 -- Starwood Hotels & Resorts Worldwide, Inc (NYSE: HOT) newest global hotel brand Le Meridien Hotels & Resorts, is planning to expand its presence in Central Europe following the signing of a management agreement for a new five-star hotel in Prague, capital city of the Czech Republic. The Le Royal Meridien Prague will be located in an existing building currently housing a banking operation and is situated in the old part of the town that dates back to the 11th century. The developers are J&T Global CZ,a.s. who are based in Prague, and the Belgian company Buelens Real Estate. 

When the redevelopment of the property is completed, the hotel, which is due to open early 2009, will have a minimum of 165 rooms, including 18 suites; meeting rooms; restaurant, bar and street cafe; a fitness club and parking facilities. 

Prague has been experiencing a cultural renaissance since the breakdown of the Communist regime in 1989 and is a picturesque "many-spired" city comprised of cobblestone streets, quaint and historic neighborhoods, and a diverse array of centuries-old architectural styles. The city teems with many new galleries, shops, restaurants, cafes and an eclectic mix of nightclubs and bars. 

"We are thrilled to be announcing a new Le Meridien hotel in Prague - especially as this is the first hotel signing for Le Meridien since they become part of Starwood Hotels & Resorts last month," said Michael Wale, Senior Vice President Le Meridien Operations. "I am sure this newest hotel in our European portfolio will quickly establish itself as one of the premier hotels in this part of the world." 

"This latest addition to the Le Meridien portfolio is an exciting and significant development for Starwood, in that it reflects our focus to grow our newest brand," said Roeland Vos, President, Starwood Hotels & Resorts Europe, Middle East & Africa. "Le Royal Meridien Prague increases Starwood's commitment to this area of Central Europe, while further expanding on the wonderful Le Meridien properties we can offer our guests around the world. We are delighted to be working with J&T Global and Belgian Buelens Real Estate on this new hotel and we hope this development is the beginning of a long term partnership with them both." 

Starwood's recent acquisition of the Le Meridien brand, comprising 130 hotels and resorts around the world, provides the hotel giant with a significant presence in Europe, Africa, Middle East and Asia Pacific. The addition of Le Royal Meridien Prague marks the company's first property in the Czech Republic and its bustling capital city. 

Le Meridien currently operates five hotels in Central Eastern Europe - Budapest, Warsaw, Vienna and two in Moscow. Le Meridien has a portfolio of 130 luxury and upscale hotels in 53 countries worldwide. The majority of its properties are located in the world's top cities and resorts throughout Europe, the Americas, Asia Pacific, Africa and the Middle East. 

Le Meridien Hotels & Resorts, with its portfolio of 130 luxury and upscale hotels in 53 countries worldwide, is owned by Starwood Hotels & Resorts Worldwide, Inc. Le Meridien enjoys a strategic alliance with JAL-owned Nikko Hotels, providing loyal guests access to an additional 52 properties around the world. 

Starwood Hotels & Resorts 

J&T Global 
J&T Group develops its main activities and services in the field of corporate investments, property development, private banking, commerce and provision for service on public markets. In next five years the group intends to invest at least 25 billion of Czech crowns in the area of property development. The most substantial projects are the development of multifunctional projects in Bratislava - River Park, Zuckermandel, the surroundings of the former Presscenter, the investment into the development of High Tatras and development of industrial and logistics parks - logistics park near Volkswagen's factory in Bratislava and supplier park for PSA Peugeot in Trnava. Recently J&T has completed the reconstruction of Crowne Plaza hotel in Bratislava, and plans the reconstruction of the Kempinski hotel River Park and Grand Hotel Kempinski High Tatras among others. 

Buelens Real Estate 

This press release contains forward-looking statements within the meaning of federal securities regulations.  


Le Meridien Hotels & Resorts
Kim Stringer 
Tel: +44 (0)20 7150 7737

Also See: Mandarin Oriental Hotel Group Will Manage a New Hotel Under Development in Prague, Czech Republic / December 2004
MaMaison Residences, a Subsidiary of Luxembourg-based Orco Property Group, Opens the Pachtuv Palace in Prague, Czech Republic / October 2004

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