Fairmont and Golden Land Real Estate Launch Development of 390-room Fairmont Suzhou in China

Set to Open in 2018

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. August 22, 2014

SUZHOU, CHINA - August 22, 2014 - Fairmont Hotels & Resorts, a luxury brand in the FRHI Hotels & Resorts (FRHI) portfolio, and Golden Land Real Estate today announced the development of a new hotel in Suzhou, Jiangsu Province, Eastern China. Fairmont Suzhou, scheduled to open in 2018, will join the company's growing portfolio of luxury hotels and residences in China.

Fairmont Suzhou will feature 390 luxury guestrooms, as well as five distinct dining outlets. The hotel will also house over 4,000 square meters (43,000 square feet) of banquet and event space. Leisure facilities will include a swimming pool and Willow Stream Spa, the company's branded spa product.

"Fairmont Suzhou marks another key milestone for the Fairmont brand as we continue a steady and strategic pace of expansion into key Chinese markets," said Jennifer Fox, president, FRHI international and president, Fairmont brand. "Not only is Suzhou one of the country's most popular travel destinations on a domestic level, it shows continued strong growth internationally and is increasingly attracting foreign investment. We look forward to providing a luxury base for those traveling to this vibrant city."

The hotel will be part of a mixed-use development that will also include office space and a retail podium, located close to the District Government, as well as office towers and other commercial and entertainment facilities. The complex will be located in Shishan, the business and financial core of Suzhou National New Hi-Tech Industrial Development Zone - Suzhou New District (SND), near the city's center. SND is a specially designated industrial zone with a focus on science and technology research and the development of high-tech industries. A growing number of Fortune 500 companies call the SND home, including Logitech, Canon and Motorola and it is a major hub for software, IT and electronic equipment manufacturing.

Suzhou is located in the center of the Yangtze River Delta, and is approximately 110 km (70 miles) east of Shanghai. The city's history dates back over 2,500 years, making it one of the oldest cities in the Yangtze Basin, where it has long been an important commercial and cultural center. It is currently the largest industrial city in China, but due to its mild climate and scenic setting, it also attracts a large number of visitors year-round. Famed for its elegant stone bridges, canals, flowing water and noteworthy architecture, Suzhou is often referred to as the "Venice of the East". The city also boasts the beautifully manicured Classical Gardens of Suzhou. Made up of eight of the finest gardens, out of more than 200 in the city, they span a period of almost 1,000 years and have been designated a UNESCO World Heritage Site. Other attractions include numerous pagodas, temples, historical districts and Tiger Hill, a popular tourist site which is said to resemble a crouching tiger, and is known for its natural beauty.

Suzhou is linked by six key expressways to major cities like Shanghai and Hangzhou and has high-speed railway connections to Nanjing and Beijing. The city is also expanding its metro system, which will include a proposed station under the Fairmont hotel. Suzhou is approximately 100 km (60 miles) from Shanghai Hongqiao Airport and 120 km (75 miles) from Shanghai Pudong International Airport.

Fairmont currently operates a number of properties in China, including Fairmont Beijing, Fairmont Peace Hotel in Shanghai, Kunshan's Fairmont Yangcheng Lake, and Fairmont Nanjing. The country continues to be a key growth market for the brand, with a number of new developments scheduled to open in the coming years, including projects in Chengdu (2015), Changsha (2017), Hangzhou (2018), Taiyuan (2019) and Nanning (2019).

About Fairmont Hotels & Resorts

Fairmont Hotels & Resorts connects guests to the very best of its destinations worldwide, reflecting each locale's energy, culture and history. Passionate travelers choose the luxury hotel brand for its ability to deliver memorable travel experiences, personalized and thoughtful service, and hotels that are one-of-a-kind. Serving as genuine gateways to their destinations, Fairmont hotels offer locally-inspired cuisine and spirited bars and lounges, distinctive design and decor, and a steadfast responsibility to environmental and social priorities. With more than 65 hotels globally, and many more in development, landmark hotels in the Fairmont collection include The Plaza in New York, London's The Savoy, Fairmont Peace Hotel in Shanghai and Quebec City's Fairmont Le Château Frontenac. Fairmont is owned by FRHI Hotels & Resorts, a leading global hotel company with over 110 hotels under the Fairmont, Raffles, and Swissotel brands. The company also manages Fairmont, Raffles and Swissotel branded luxury private residence clubs, whole-ownership residences and serviced residences properties. For more information or reservations, please visit fairmont.com.

About Golden Land Real Estate

Golden Land Real Estate was founded in Nanjing in 1994. The Group focuses on real estate development and funds management. Currently the group has 20 subsidiaries and a real estate development area of over three million square meters.