Carlson Hotels premiers Radisson Blu in the U.S.

Minneapolis, MN | May 12, 2010

Carlson Hotels, one of the world's leading hotel companies, today announced that it has signed a landmark agreement to develop the first Radisson Blu hotel in the United States. This USD 125 million development in Chicago is scheduled to open in the fall of 2011. It marks the company's most important investment so far as part of Carlson Hotels' Ambition 2015 growth strategy.

"Our ambition is to establish flagship hotels in major cities in the U.S., and the Radisson Blu Aqua Hotel is a major step towards realizing that goal," said Hubert Joly, president and chief executive officer, Carlson.

Ambition 2015 is fueled by an investment program of up to USD 1.5 billion focused on positioning Radisson in North America as a powerful, globally consistent first-class brand. Recognized around the world for its contemporary design, Radisson Blu delivers upper-upscale hospitality.

A joint venture between Carlson Hotels and Aqua at Lakeshore East LLC owner and developer, Magellan Development Group, Chicago's Radisson Blu Aqua Hotel will be located on 18 floors of the 81-story tower. The mixed-use residential property received the 2009 Skyscraper of the Year Award for its fascinating shape, the appearance of which changes dramatically depending on the perspective.

"This venture is part of the moves we are making to align our U.S. brand with our global standards," said Thorsten Kirschke, executive vice president and chief operating officer, Carlson Hotels, The Americas.

About Carlson
Carlson is a privately held, global hospitality and travel company headquartered in Minneapolis, Minn. Carlson encompasses more than 1,060 hotels, including Radisson®, Country Inns & Suites By CarlsonSM, Park Inn®, Park Plaza® and Regent®; more than 1,000 restaurants, including T.G.I. Friday's® and Pick Up Stix®; and a majority stake in Carlson Wagonlit Travel®, the global leader in business travel management. Carlson operates in more than 150 countries and its brands employ about 150,000 people. http://www.carlson.com

About Magellan Development
Magellan Development is a Chicago real estate development company; they are responsible for the Lakeshore East community in downtown Chicago along with numerous properties in the River North and Gold Coast regions. www.magellandevelopment.com

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