Grand Hôtel Stockholm Enters Franchise Agreement with InterContinental

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. October 14, 2008

JULY 12, 2007. IHG, the owner of the InterContinental Hotels & Resorts brand, today announced the signing of an agreement with Grand H^otel Stockholm to become a franchisee of InterContinental effective January 1, 2008. Located at the S"odra Blasieholmshammen, in a building dating back to 1874, the hotel is rich in history and tradition and occupies a prime position on the city's waterfront.

The Grand H^otel Stockholm has been a luxury hotel for 133 years and has hosted an impressive list of Nobel Prize laureates, royalty, heads of state and artists. The hotel features 376 stylish guest rooms, including 40 suites and the top-floor Princess Lilian and Flag Suites, offering panoramic views across the city. All individually designed, each room has its own distinctive character and history. The hotel will offer the facilities and luxury associated with the InterContinental brand and, in doing so, will appeal to both leisure and business travelers visiting the city.

The hotel features two premier restaurants - the Veranda Restaurant and Restaurant Mathias Dahlgren, as well as the Cadier Bar - all of which boast fabulous views across Stockholm. In addition to a spa and health club, the hotel offers 24-hour conference and meeting venues and continues its long tradition of quality and excellence as a true landmark destination in Stockholm.

The announcement of the Grand H^otel InterContinental Stockholm continues what has been a period of unprecedented growth for the InterContinental brand. This includes the recent opening of flagship properties - the InterContinental Boston and InterContinental London Park Lane, as well as IHG's first InterContinental hotel in Los Angeles. The brand will continue its global expansion throughout 2007, including three new openings planned in China, as well as the opening of the InterContinental Dubai Festival City.

Jennifer Fox, Chief Operating Officer, InterContinental Hotels & Resorts Europe, commented: "This is a fantastic addition to our portfolio; we are delighted we have secured such a great location to further our brand presence in Europe. We believe that this new property will continue to strengthen our position in a market to which we are committed and we are extremely proud to be working on this development, with more exciting developments being planned. Stockholm is a hugely popular leisure and business destination and we believe that our development plans for the Grand H^otel InterContinental Stockholm will ensure that we lead the field in five-star accommodation."

Nils Axing, CEO and Managing Director of the Grand H^otel Stockholm, continues: "We are delighted to reinforce our brand by joining one of the leading distribution systems and loyalty programs in the industry. We very much look forward to further strengthening our international presence."

Morgan Stanley, global investment bank, advised the Grand H^otel Stockholm as exclusive financial adviser and the international law firm Sidley Austin acted as legal counsel.