Released on: September 24, 2007, 1:35 am

Press Release Author: Golden Tulip Hotels, Inns and Resorts

Industry: Real Estate

Press Release Summary: Tulip announces its entry into a strategic investment
programme with Eurotrade, a private equity investment firm, for the composition of a
global real estate portfolio. A substantial contribution to the expansion of Golden
Tulip Hotels, Inns & Resorts is also in the planning.


Press Release Body: Amersfoort (NL)/Lausanne (CH), 20 September 2007 - Golden Tulip
announces its entry into a strategic investment programme with Eurotrade, a private
equity investment firm, for the composition of a global real estate portfolio. A
substantial contribution to the expansion of Golden Tulip Hotels, Inns & Resorts is
also in the planning.

The initial stage of equity investments will be allocated as follows:

Europe: 150 million Euros
US: 150 million US Dollars
China: 150 million Euros

Mr. Hans Kennedie, President & C.E.O. of Golden Tulip Hospitality Group, states: \"We
have entered a strategic agreement with EuroTrade in which EuroTrade will acquire
hotels and Golden Tulip will operate them. We are very pleased that we have now
concluded the first 3 acquisitions. These hotels complement our portfolio of 18
hotels in Germany and will trigger further acquisitions in the near future in
Europe, Asia and the United States\".

\"This agreement coincides with Eurotrade\'s wish to expand geographically,\" adds Boaz
Kamar, Chief Executive Officer of Euro-Trade Real Estate Company. \"We intend to work
with Golden Tulip on acquiring 25 additional hotels and resorts in Europe and the
US, over the next three years,\" he added.

The Eurotrade International Real Estate Company has already signed a multi- million
euro deals with the Golden Tulip Hospitality Group, giving the hotel chain a
15-years lease on the following hotels:

1. Golden Tulip Bad Reichenhall, a resort in the East German town of Bad
Reichenhall, outside Salzburg.
2. Golden Tulip Rüsselheim, a First Class Hotel on the outskirts of Frankfurt in
Russelsheim, located in a business district 8 minutes from the airport.
3. Tulip Inn Bad Nenndorf; located in Barsinghausen, a town in the district of
Hanover, in Lower Saxony, Germany.

With these additions the current hotel portfolio in the Germany comprises of 21
hotels with 2.400 rooms located in 15 cities.

Web Site: http://http://www.goldentulip.com/pressroom/news.aspx?id=235

Contact Details: Golden Tulip Hospitality Group
Ms. Rocio Manzanares -
Corporate Communication Manager
Tel: +31 33 2544 828
Fax: +31 33 2544 816
E-Mail: rocio.manzanares@goldentuliptop.com
Web: www.goldentulip.com