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Steigenberger Hotels AG Appoints Puneet Chhatwal as
Chief Executive Officer Effective January 1 , 2013

FRANKFURT, Germany, September 24, 2012
- The Supervisory Board of Steigenberger Hotels AG has appointed Puneet Chhatwal as new Chief Executive Officer (CEO) of the Management Board. From January 1 , 2013 onwards and together with Chief Financial Officer (CFO) Matthias Heck , Chhatwal will hold responsibility for the hotel business based in Frankfurt/Main.

Steigenberger Hotels AG is very pleased to announce Puneet Chhatwal (48), who has deep and long term international experience in hotel management, as its CEO.

Having completed a Bachelor's Degree at the University of Delhi and a diploma in Food Service and Hotel Management, Chhatwal started his career with the India Tourism Development Corporation. After several operational positions in India, he studied at IMHI (ESSEC), Paris and earned a Master's Degree in 1991 in International Hospitality Management. In 2012, he completed the Advanced Management Program (AMP) at INSEAD Business School in Fontainebleau. Chhatwal is a Fellow of the Institute of Hospitality (FIH).

After gaining valuable insights and experience in hotel consulting and project development, Chhatwal joined Carlson Hotels Worldwide in 1998, where he was responsible for the development of the group's brands in Europe, the Middle East and Africa. Since 2002, he has been responsible for Corporate Business Development at the Rezidor Hotel Group in Brussels. As Chief Development Officer (CDO) he became a member of the Executive Committee in 2007. During his tenure at Rezidor, the group grew from 150 to the current level of 435 hotels, with brands such as Radisson Blu, Park Inn by Radisson, Hotel Missoni and Regent.

"With his worldwide experience in top international hotel development and management, Puneet Chhatwal will give decisive stimuli for growth of Steigenberger and systematic orientation of operating management to achieve the goals of our corporate strategy", said Dr. Ralf Corsten, Chairman of the Supervisory Board of Steigenberger Hotels AG.

About Steigenberger Hotels AG

Steigenberger Hotels AG is one of Europe's leading hotel companies. Its head office is based in Frankfurt/Main, and the group operates 80 hotels in Germany, Austria, Switzerland, the Netherlands and Egypt. The umbrella organisation Steigenberger Hotel Group comprises the two brands Steigenberger Hotels and Resorts (47 individual first-class and deluxe hotels) and InterCityHotel (33 midrange hotels located directly at transport hubs such as railway stations and airports). Steigenberger Hotels AG has been in the sole ownership of Hamed El Chiaty since 2009.

Steigenberger Hotel Group
Corporate Communications
Angelika Heyer
Tel: +49-69-665-64-422
Fax: +49-69-665-64-424

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Also See: Steigenberger Hotel Group to Open the 440-room Steigenberger Airport Hotel Amsterdam at Schiphol International Airport Through a Re-branding of the Dorint Hotel Amsterdam-Airport / August 2012

New 340-room Steigenberger Hotel to be Built Near the German Chancellery in Berlin / November 2011

Steigenberger Grandhotel and Spa on the Baltic Island of Usedom Opens / May 2011

Spiridon Sarantopoulos is Appointed Director of the Steigenberger Grandhotel Petersberg Near Bonn, Germany / March 2011

Steigenberger Hotels Appoints Andreas Schuster as the new COO / Dec 2010

Steigenberger Hotels New Majority Shareholder, Travco Group, Focusing on the Expansion of the Brands Steigenberger Hotels and Resorts and InterCityHotel / Sept 2009

Egypt’s Tourist Conglomerate, Travco Group, Acquires Germany’s Family Owned Hotel Group, Steigenberger / August 2009

Steigenberger Hotel Group Hopes to Sharpen the Brand Profile; Dynamic Approach to the Future / December 2008

Spiridon Sarantopoulos appointed General Manager of the Steigenberger Frankfurter Hof, Frankfurt/Main, Germany / June 2008

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