InterContinental to Rebrand Kobe Hotel

. October 14, 2008

NOVEMBER 20,2006. Kobe's well established Shinkobe Oriental Hotel, is to be re-branded as the Crowne Plaza Kobe.

The hotel will continue to be managed by Panorama Hospitality and will initially operate under a franchise agreement with InterContinental Hotels Group commencing on December 15, 2006. The high profile hotel has undergone a comprehensive renovation program with an emphasis on guestrooms, restaurants and public areas.

The re-branding to Crowne Plaza will complete the hotel's rebirth as an upscale international hotel.

"Our Japan strategy is based on partnering with quality owners like Morgan Stanley and developing exceptional hotels located in key cities to drive growth of the brand throughout Japan. Kobe is known as a fashionable and historic port city for domestic Japanese travel but it also attracts a large number of international travelers, creating potential for both the hotel and the Crowne Plaza brand" said Paul Kitamura, Vice President - Japan, Inter Continental Hotels Group.

Panorama Hospitality President, Robert Wilson said "We look forward to working with InterContinental Hotels Group and having access to their resources. We believe this conversion to Crowne Plaza will significantly enhance the recognition of this hotel and enable it to attract more visitors from around the world. We can now offer a new, international hotel experience for customers and guest in this appealing city, Kobe."

InterContinental has been awarded the title of the World's Leading Hotel Brand in 2006 by the World Travel Awards.

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