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Qualia Development and Louvre Hotels Group Sign Agreement
for the Development of Golden Tulip Across Poland

7 Projects Planned for a Total of 1,000 Rooms to Open Between 2012 and 2016

Warsaw, Paris, 16 January 2012
-­‐ Qualia Development, a subsidiary of Poland’s largest bank PKO Bank Polski, and Louvre Hotels Group, a major player in the hotel sector, today announced the signature of a strategic franchise partnership to develop mid and upscale hotels and serviced residences across Poland.

With this agreement, Qualia Development, supported during negotiations by Horwath HTL consultants, will develop seven projects, representing a total of about 1,000 rooms. These establishments, that are expected to open one after another between 2012 and 2016, will be under Louvre Hotel Group’s iconic brands Golden Tulip (4 stars) and Royal Tulip (5 stars).

One hotel will be located in Warsaw next to the airport and major business district. Except from this one, that targets business customers, the other establishments will be mostly condo hotels projects located in popular Polish tourist destinations. Four projects will be located on the Baltic cost (the first destination for holidays for Poles) and another one in Zakopane, in the Tatras mountain (the second most popular leisure destination of the country). The last one will be in the notable spa town Duszniki-­‐Zdro.j

The first project to be opened will be located in the city of Międzyzdroje, a major seaside tourist destination in Poland located only 20 kilometers from Germany. The Golden Tulip Międzyzdroje Residence will be opened in June 2012 and will enjoy a great location about 100meters from the beach and close to the folkloric city center and its famous 395-­‐ meters long pier.

The projects in Międzyzdroje is financed by PKO Bank Polski and the hotel will be managed by a management company part of the group.

For Leszek Piotr Nałęcz, Chief Executive Officer of Qualia Development “The signature of the strategic franchise partnership with Louvre Hotels Group is for us a major milestone in the launch of our hospitality activity. The portfolio of 7 hotels and serviced residences realised with Louvre Hotels are all based on assets already secured by us or by our shareholder PKO Bank Polski Pierre-­‐Frédéric Roulot, Chairman of Louvre Hotels Group, stated: “We welcome this partnership that will enable Louvre Hotels Group to actively participate in the tourism sector in Poland. Louvre Hotels Group is determined to pursue its expansion in the Eastern European market, where we plan to have a portfolio of 40 hotels in 2015."

About Louvre Hotels Group

Following their respective purchase by Starwood Capital in 2005 and 2009, the alliance between Louvre Hôtels and Golden Tulip became Louvre Hotels Group in April 2011, making it a leader in the global hospitality market with more than1,000 hotels in 40 countries ranging from 1 to 5 stars. The Group, established in 1976, now counts 6 brands: Première Classe, Campanile, Kyriad, Tulip Inn, Golden Tulip and Royal Tulip Luxury Hotels.

About Qualia Development
Qualia Development, is part of PKO Bank Polski Group the largest bank in Poland. Qualia Development is one of the biggest residential developer in the country. Since the beginning of its developer activity, Qualia Development already sold more than 3,000 apartments all over Poland.


Louvre Hotels Group Press  Contacts
Camille Sassi
01 42 91 47 40

Olivia Meyer
01 42 91 49 7

Qualia Devlopment Press Contact
Monika Śliwa
+48 22 378 98 00

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Also See: Louvre Hotels Group Actively Pursues its Development in France; Opening 28 New Hotels in France in 2011 / January 2012

Building on the Fact that France is the Number One Destination for Chinese Tourists Visiting the European Union, Louvre Hotels Group Enters Partnership with Jin Jiang Inn Co.; Covering 15 Campanile Hotels and 15 Jin Jiang Inn Hotels the Alliance Includes Sharing of Websites, Reservation Channels and Management Experience / November 2011

Golden Tulip Opens its Second Property in Prague, Czech Republic with the Management Contract for the 61-key Hotel Savoy / November 2011

Louvre Hotels Group Continues International Growth; Eastern Europe a Key Component / October 2011

Louvre Hotels Group to Expand in Central and Eastern Europe Aiming to Open 28 Hotels Before 2012 and Work Toward 100 Hotels per Year within Five Years / October 2011

Louvre Hotels Group Strengthens its Presence in France and Internationally with the Opening of 42 New Hotels in 2011 / September 2011

The Golden Tulip Warsaw in Poland Undergoing Renovation of Public Spaces to be Completed in September 2011 / August 2011

Louvre Hotels Group Continues Development of Golden Tulip and Tulip Inn With the Brand Transition of Three Fully-Owned Hotels / June 2011

Louvre Hotels and Golden Tulip Launch New Entity, Louvre Hotels Group, with a Portfolio of 7 Distinctive Brands with over 1,000 Hotels in 40 Countries / April 2011

Brazil Hospitality Group Acquires Brascan Imobiliaria Hotelaria e Turismo S.A., Sole Owner of the Hotel Intercontinental in Rio de Janeiro: Ends Year with 38 Hotels in Portfolio with Plans to Add 1,500 Rooms During 2011 / December 2010

Starwood Capital Acquiring Golden Tulip Hospitality; the Golden Tulip Brands to be Integrated with Starwood Capital's Budget Hotel Division - Louvre Hotels / June 2009

Starwood Capital Group Acquiring Controlling Interest in Groupe Taittinger, Societe Du Louvre, Europe's Second Largest Hotel Network / July 2005

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