Solare to Manage the Niigata Washington Hotel

Will Rebrand to Chisun

. October 14, 2008

TPKYO, Japan, March 27, 2007. Effective August 1, 2007 Solare Hotels & Resorts Co. Ltd. will manage the Chisun Hotel & Conference Center Niigata which until March 31, 2007 had been operating as the Niigata Washington Hotel.

Following a change in the ownership of the hotel Solare Hotels & Resorts won the contract to manage the hotel which will commence operation upon completion of a large-scale three-month renovation and total refurbishment of banquet & meeting rooms, guestrooms, interiors, carpets, hotel restaurant and lobby.

The Chisun Hotel & Conference Center Niigata will become Solare's second property in Niigata prefecture, following from its upscale full service brand Lois ir Hotel Joetsu, (formerly known as the Joetsu Manten Hotel).

Linked directly to the Joetsu Shinkansen Niigata Station, the Chisun Hotel & Conference Center Niigata is conveniently located as a gateway to the largest city along the coast of the Japan Sea.

Says A.G. Virili, Solare Hotels & Resorts CEO; "The Chisun Hotel & Conference Center Niigata forms another integral link in our mission to achieve 18,000 rooms by 2010 and provides our guests visiting the region with expanded opportunities to experience our quality of service that we are both reputed for and take great pride in. The launch of this new hotel in the region further strengthens Solare's presence and represents a strong base for future growth. We expect to see more hotel development in the region along the coast of the Japan Sea."

The new Chisun Hotel & Conference Center Niigata dovetails in with Solare's strategy to further develop MICE services and packages for small to medium size meetings, conferences and banquet business, as well as supporting the accommodation needs of business and leisure travelers.

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