Park Plaza Hotels Announce the Signing of a Key Covenant with the City of Amsterday (The Netherlands)

Amsterdam | July 03, 2009

Park Plaza Hotels has today reached an agreement with the City of Amsterdam to develop an art'otel in the city's iconic former 'Kadaster' office.

Such plans for art'otel amsterdam include some 100 guest rooms, an art café and a ground-floor and basement public space dedicated to showcasing cultural and social activities.

The signing of the covenant enables Park Plaza Hotels to apply for all necessary planning permissions, with the hotel scheduled to open early 2011, in tandem with a huge city regeneration project that includes the local area surrounding the famous Kadaster building.

The iconic building, situated in prime position opposite the city's Central Station, first opened its doors in 1920 and served initially as the head office of the Koninklijke Hollandsche Lloyd (shipping company). For the past several decades the city's land registry office ('Kadaster') was the sole tenant of the building, until they relocated in 2004.

Boris Ivesha, President & CEO of Park Plaza Hotels comments: "To develop our first art'otel in Amsterdam, where we have a strong performance record in our two Park Plaza branded properties is an exciting evolution and we are confident of its appeal. With art'otel amsterdam, we bring a modern, contemporary and edgy hotel addition to the city's accommodation offering, presenting guests who have a passion for art and travel the unique opportunity to literally sleep in an art gallery."

This milestone development is announced at a time of aggressive expansion for Park Plaza Hotels' lifestyle art'otel brand, with developments confirmed in cosmopolitan destinations such as Cologne and Marrakech (both opening late 2009), and London in 2012, since full ownership of the brand was granted in 2007.

art'otel sits within US hospitality giant Carlson Hotels Worldwide's global Park Plaza Hotels & Resorts brand, linked to the powerful reservation portal Curtis-C, strong partner network and award-winning marketing programmes.

For more information on art'otels, visit artotels.com

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Notes to Editors:
Park Plaza Hotels Limited is owner, operator and franchisor of hotels in Europe, the Middle East and Africa. The majority of the group's hotels operate under the Park Plaza Hotels & Resorts brand (part of Carlson Hotels Worldwide), over which the Group has exclusive rights in 56 countries in EMEA, or art'otel, a brand which the company fully owns. Park Plaza Hotels also manages the luxury all-suite Plaza on the River - Club and Residence, London.

Through it strategic partnership with Carlson, one of the world's largest travel and hospitality companies, Park Plaza Hotels has access to Carlson's powerful reservation and distribution system, airline partnerships with 21 airlines, loyalty programmes such as goldpointsplusSM for guests and Look To Book® for travel agents and cross-selling opportunities.

There are currently 38 hotels and aparthotels and over 7,000 rooms in the Group's portfolio. By the end of 2012, the Group's committed projects and territorial franchise agreements are expected to increase the number of rooms to over 13,000.

Projects under development include Park Plaza Marrakech (2009), art'otel marrakech (2009), art'otel cologne (2009), Park Plaza Nuremberg (2010), Park Plaza Westminster Bridge London (2010), art'otel amsterdam (2011) and art'otel london hoxton (2012).

Park Plaza Hotels' shares are admitted for trading on London's AIM Stock Market.

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