Acquisitions & Hotel Openings

Rezidor Announces Radisson Blu Ulaanbaatar, Mongolia

February 19, 2010 - Brussels-based hotel management company The Rezidor Hotel Group announces the development of its first property in Mongolia. Radisson Blu Hotel, Ulaanbaatar is scheduled to open winter 2011.

"We are delighted to enter Mongolia, which is a fascinating destination and the 61st country where Rezidor is present," commented Kurt Ritter, President & CEO of Rezidor.

"Our cooperation will strengthen the business of both our companies and bring a new clientele to Mongolia," added Jan Wigsten of "Nomadic Journeys," owner of the hotel.

The hotel will be located in the heart of Mongolia's capital city Ulaanbaatar. Within walking distance of Sukhbaatar Square and Peace Avenue, the hotel will be adjacent to the 100-year-old Choijin Lama Temple, which features the 18th-century gold-covered statue of Buddha Shayaryamuni. The Ministry of Foreign Affairs, the Opera House and the Museum of Natural History will also be in close proximity.

Radisson Blu Ulaanbaatar will offer 175 guestrooms, three restaurants including a Paulaner micro brewery, a wellness center and almost 5,000 square feet of conference and meeting space.

Known as the home of Genghis Khan and the Steppe grasslands, which extend into China and Russia, Mongolia's exotic terrain and rich history make it an emerging destination for US travelers. Tourist arrivals to the country have been growing at a compound annual rate of 15 percent since 2006.

Corporate travel also provides considerable growth opportunities, as Mongolia's mineral deposits make it a key exporter of commodities helping fuel the economic advancement of neighboring China. The country's economy recently transformed from being state-controlled to market-driven in 1996.

Radisson Blu Ulaanbaatar, Mongolia marks the latest in Rezidor's demonstrated commitment to development in emerging global markets. Mongolia's neighboring Russia & CIS have been a particular area of focus. In 2009, Rezidor opened its first hotel in Georgia, Radisson Blu Iveria Hotel Tbilisi, and announced its 40th development in Russia, the Radisson Blu Royal Moscow, opening summer 2010. Additional Rezidor developments in Russia & CIS include Radisson Blu Royal St. Petersburg and the Radisson Blu Lazurnaya, Sochi on the Black Sea coast.

For more information on Rezidor, visit www.rezidor.com. The Corporate Office of the Rezidor Hotel Group is based in Brussels, Belgium.

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