Movenpick Hotels & Resorts Seals Colombo Management Contract Deal Marks Swiss Chain's First Property in Sri Lanka and Further Strengthens its Asian Profile

DUBAI, UAE, December 13, 2010 - Movenpick Hotels & Resorts has secured a management agreement
to operate the Movenpick Hotel Colombo, a 180-room property in Sri Lanka,
which is expected to open by mid 2013.

The upscale property, located next to Liberty Plaza in the heart of the
city, will occupy half an acre in the prime downtown district, surrounded by
commercial businesses, high-end residences and prestigious restaurants.

The 19-floor hotel - being designed with sustainable build and
operating requirements - will feature contemporary architecture and room
sizes vary from 36sqm for standard rooms up to 70sqm for a suite.

Alongside one speciality restaurant will be an all-day dining
venue, rooftop bar and nightclub, and guests will be able to unwind in the
fitness centre, spa and pool and receive 24-hour room service, while
executives will be able to avail of the Boardroom and Business Centre.

Andreas Mattmuller, Chief Operating Officer of Movenpick
Hotels & Resorts, Middle East & Asia, said the company is very excited about
opening in Colombo, which is in line with its development strategy to secure
projects in key Asian markets.

"It's a great opportunity to expand our presence in such an
emerging travel destination," he said. "It dovetails perfectly with our
commitment to international expansion and will strengthen our brand portfolio
in Asia."

He added that Movenpick Hotels & Resorts look forward to
working with owners SoftLogic Holdings in establishing and growing the
business.

Ashok Pathirage, Chairman of SoftLogic Holdings, said: "We
were keen to work with a globally recognised brand and Movenpick Hotels &
Resorts meets our criteria perfectly. I am sure with their world-renowned
levels of service and large client base, they will be a successful addition
to the Colombo hospitality scene."

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 (existing and under construction) to 100 by the year end
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%).

    For further information:
    Movenpick 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@moevenpick.com

www.moevenpick-hotels.com

For further information: Movenpick 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