Pphe Hotel Regulatory News (PPH)

6 Mar 2008 11:15

Park Plaza Hotels Limited06 March 2008 6 March 2008 Park Plaza Hotels Limited ("Park Plaza" or "the Group") Franchise Agreement for art'otel, Marrakech Park Plaza Hotels Limited, owner and operator of full-service four-star deluxehotels and trendy boutique hotels in Europe and the Middle East, is pleased toannounce that it has extended its franchise agreement with Global V HospitalityInc, to include a new art'otel in Marrakech. The 70 room hotel, which is owned by Mr. Benbarka, Moroccan hotel developer andacclaimed film maker, is already under construction and due to open mid 2009.It will have a function space, traditional Moroccan restaurant, Piano Bar, roofterrace with swimming pool and private onsite parking. Guests of the hotel willalso have access to a fitness centre, discotheque and bowling alley in theleisure complex situated next to the hotel. Global V Hospitality has been granted exclusive development rights, under aterritorial sub-licence agreement, to use the Group's Park Plaza brand inMorocco, Egypt and the Gulf States. Expansion of the Company's portfoliothrough franchise arrangements allows the Group to build its brand with minimalcapital investment and risk. The Group will receive a royalty fee in respect of the new hotel, as well asfees for services such as marketing connected with the brands (calculated as apercentage of gross room revenues). The hotel will be operated by a localsubsidiary of Global V Hospitality Inc and is the first art'otel to open inNorth Africa. Boris Ivesha, Chief Executive Officer of Park Plaza Hotels Ltd, commented: "Marrakech is a vibrant destination that fits perfectly with the dynamics of theart'otel concept. The city attracts a buoyant mix of leisure and businessvisitors and we are thrilled to be expanding our portfolio with this new, uniqueaccommodation choice that blends contemporary design and modern art withfacilities to suit all." www.parkplazahotels.net Enquiries: Park Plaza Hotels 020 7034 4800Boris Ivesha, Chief Executive Officer Hudson Sandler 020 7796 4133Jessica Rouleau Notes to Editors Park Plaza Hotels Limited is owner, operator and franchisor of hotels in Europe,the Middle East and Africa. The Group operates under two brands: Park PlazaHotels & Resorts (part of Carlson Hotels Worldwide), over which the Group hasexclusive rights in 56 countries in EMEA and art'otel, a brand to which theGroup has exclusive worldwide rights. Park Plaza Hotels also manages the luxuryall-suite Plaza on the River - Club and Residence, London. Through it strategic partnership with Carlson, one of the world's largest traveland hospitality companies, Park Plaza Hotels has access to Carlson's powerfulreservation and distribution system, airline partnerships with 19 airlines,loyalty programmes such as goldpointsplusSM for guests and Look To Book(R) fortravel agents, and cross-selling opportunities. There are currently 26 properties and over 4,700 rooms in the Group's portfolio.By 2010, the Group's committed projects and territorial franchise agreementsare expected to increase the number of rooms to over 8,000. Projects already under development include Park Plaza Marrakech (2009), ParkPlaza Nuremberg (2009), art'otel cologne (2009) and Park Plaza WestminsterBridge, London (2010). Park Plaza Hotels floated on London's AIM Stock Market in July 2007. Global V Hospitality Inc. Global V Hospitality Inc. is a full service hospitality management andconsulting firm specializing in hotels, resorts, and conference centres in NorthAmerica and EMEA. Global V Hospitality Inc. was launched in 1987 and hasdeveloped and operated hotels and resorts in the US, Canada, Japan and EMEA. Itcurrently operates 12 hotels with a head office in Toronto and regional officesin Casablanca and Cairo. This information is provided by RNS The company news service from the London Stock Exchange