Rezidor Arrives in Ethiopia

New Radisson Hotel in Addis Ababa

. October 14, 2008

MAY 20, 2008. The Rezidor Hotel Group (STO:REZT) arrives in Ethiopia and announces a brand new Radisson hotel in the capital city Addis Ababa - the property will feature 209 rooms and open in Q4 2009.

'With this signing we are adding a new country to our portfolio and are now present in 52 countries across EMEA', comments Kurt Ritter, President & CEO of Rezidor. 'In the Middle East and Africa we are now having 47 hotels with almost 11,500 rooms in operation and under development.'

The new hotel owned by The Emerald Addis Hotels plc is perfectly located in the business and diplomatic centre of Addis Ababa in close proximity to the African Union Conference Centre. Modelled on the successful Radisson SAS EU Hotel, Brussels, which is located near the European Union, the Radisson Hotel Addis Ababa will include an all day restaurant, a bar lounge, meeting facilities, and a fitness & wellness centre.

Addis Ababa is a diverse and riotous capital city with almost 3 million people, roughly 80 different nationalities, and a multitude of religious and language groups. Nestled at the foot of Mount Entoto, the city was founded in the late 1800s by Ethiopian emperor Menelik II and was later occupied by the Italians during the second Italo-Abyssinian War. When Ethiopians regained control, Emperor Haile Selassie immediately set about rebuilding the capital and formed the Organization of African Unity, replaced by today's African Union, which has its headquarters in the city.

Addis Ababa is also home to the world-renown early hominid Lucy - her fossilised skeleton, as well as a replica, are housed in the Ethiopian National Museum. The city also boasts the largest open market in Africa (in the Merkato district), several interesting mosques and cathedrals, as well as the world's largest prefabricated building, Shengo Hall, and Menelik's Old Imperial Palace, which is the official seat of the Ethiopian government.

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