NOVEMBER 19, 2007. Golden Tulip announced the opening of its first hotel in India, Golden Tulip Jaipur, located in the city of Jaipur, which is also known as the Pink City.

The Hotel is located in the heart of Jaipur, in the close proximity to business, commercial and shopping areas. Golden Tulip Jaipur offers guests 108 luxurious rooms, a business centre suitable for meetings and conferences, a bar and a restaurant. Further facilities include a relaxation area on the roof top with panoramic view and a swimming pool.

Golden Tulip Jaipur is the first of six Golden Tulip hotels to be opened in the next year in India. Since the opening of a development office in New Delhi in May last year, Golden Tulip Hotels, Inns & Resorts is aiming at expanding its Indian portfolio. The Company has already signed new hotels currently being built in Goa, Bangalore, Hyderabad & Vizag and is looking for partners and sites to jointly develop hotels primarily in all state capitals and holiday locations in India as well as in Nepal, Pakistan, Bangladesh, Sri Lanka, Maldives & Seychelles.

Mr. Hans Kennedie, President & CEO of Golden Tulip Hospitality, comments: 'I am thrilled with the new adventure our company has embarked on. This is a great challenge but a company in the scale of Golden Tulip is more than able to deliver.'

Mr. Vimal J Singh, Senior Vice President and Managing Director, South Asia for Golden Tulip Hotels, Inns & Resorts, said: 'One of our group companies Ager Hotels Group Ltd will be investing in over USD 200 million in equity to achieve our expansion plans in the region the next 3-5 years .We have already invested over USD 30 million in the six hotels currently under construction in India.'