Movenpick Hotels & Resorts Announces Plans for Three New Projects in Thailand

The Swiss-based Company Plans to Open New Properties in Bangkok, Chiang Mai and Koh Samui and Operate Five Hotels in the Country by 2014

DUBAI, UAE, October 13, 2010 - Movenpick Hotels & Resorts announced today plans for three new
properties in Bangkok, Chiang Mai and Koh Samui during the next three years,
signalling a solid period of strategic Asian expansion for the Swiss-based
operator.

Building on the success of the Movenpick Resort and Spa Karon
Beach Phuket, its first Thai hotel which opened in 2006, the company has
signed a management agreement to operate the Movenpick Suriwongse Hotel
Chiang Mai, the Movenpick Resort & Spa Mae Nam Beach Koh Samui and the
Movenpick Hotel & Residences Bangkok.

"We are pleased to significantly expand our presence in such a
magnificent and flourishing country," said Andreas Mattmuller, Chief
Operating Officer of Movenpick Hotels & Resorts, Middle East & Asia.

Jean Gabriel Peres, President and CEO of Movenpick Hotels &
Resorts, added "Our expansion in Thailand supports our development strategy
by clusters, which has proven to be successful in many countries such as
Jordan Egypt, Germany and Switzerland."

Jumroen Chittaratsaenee, developer of the forthcoming upscale
properties, said: "I am delighted to have joined hands with Movenpick Hotels
& Resorts, a highly regarded international hotel management company with
recognized values for quality, reliability and care."

Kicking off the expansion will be the renovation of an
existing hotel in downtown Chiang Mai, which will be rebranded the Movenpick
Suriwongse Hotel Chiang Mai. The 286-room hotel is perfectly located on the
corner of Loikoh and Changklan Road, right at the heart of Chiang Mai's
landmark the "Night Bazaar". The hotel is a short distance from Chiang Mai
International Airport, the railway and bus station. It is due to open by mid
of 2011.

The hotel will feature innovative dining experiences, such as
a Thai-Italian Restaurant, an all-day dining venue and wine bar. Shops and a
wide range of wellness options, including a spa, pool and fitness centre will
be available.

The Movenpick Resort & Spa Mae Nam Beach Koh Samui coming up
on the beautiful northern shore of the island will feature 81 exclusive
villas with private pools offering stunning views across the Gulf of Thailand
and to Koh Pha-Ngan. The resort will appeal to high-end leisure travellers.

Contemporary dining outlets, an extensive organic garden with
a Thai restaurant and a signature spa will entice guests from around the
world. The resort is slated to be operational by the end of 2011.

The Movenpick Hotel & Residences Bangkok located in Phayathai
near the Victory Monument area, will feature 266 modern, spaciously appointed
rooms and suites, in addition to 100 residences. A convenient feature
includes an unparalleled collection of loft-style guest rooms. Due to open by
2014, it will offer a privileged location for business and leisure travellers
alike with easy access to the nearby sky train and the Airport Express link.
The hotel will be located close to the major downtown shopping areas.

Existing projects in the country include the upcoming
Movenpick White Sand Beach Resort, located in Jomtien, close to Pattaya, an
hour and a half drive from Bangkok.

Scheduled to open by 2013, the resort will offer a convenient
get-away to enjoy the outdoors with a magnificent lagoon pool, entertainment
for the family and a variety of tempting dining choices. The hotel will
attract domestic, intra-regional and international leisure travellers.
Extensive banqueting facilities and meeting rooms will be available to host
incentive groups and world-class conferences.

Furthermore, the Movenpick Residence Karon Beach Phuket has
recently introduced a new resort style residential development. The project
comprises of five low-rise buildings, each housing six contemporary
130-square metre two bedroom apartments. The butler-serviced apartments offer
a rich lifestyle and hassle-free beach home ownership with attractive
investment potential and management rent-out programmes.

Note to the editor: pictures available upon request

Movenpick Hotels & Resorts, an upscale hotel management
company with over 12,000 employees, is represented through over 90 hotels
existing or under construction in 26 countries with a concentration on its
core markets in Europe, Africa, the Middle East and Asia. The international
hotel group with roots in Switzerland is expanding and has a stated objective
of increasing its hotel portfolio to 100 by the year 2010. With two hotel
types, business and conference hotels, as well as holiday resorts, Movenpick
Hotels & Resorts has clearly positioned itself in the upscale segment and
stands for quality, reliability and care with a personal touch. The hotel
group is owned by Movenpick Holding (66.7%) and the Kingdom Group (33.3%).

www.moevenpick-hotels.com

For further information: Mövenpick Hotels & Resorts, Laura Perez, Director of Communications - ME, Shatha Tower, Floor 39, Office 3903, P.O.Box 500590, Dubai , UAE, Phone +971-4-367-1927, Fax +971-4-367-2688, laura.perez at moevenpick.com