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Raffles International Concludes Management Contract
of Swissotel Boston But Continues to Manage Hotels
in Host Marriott Portfolio
CHICAGO, April 28, 2003 - Raffles International Limited has announced today the finalization of terms for handover of Swissotel Boston to Host Marriott on 25 June, 2003. However, the Group will continue to manage three other Swissotels in North America, namely Swissotel Atlanta, Swissotel Chicago and Swissotel The Drake, New York; and Swissotel Lima, Peru and Swissotel Quito, Ecuador in South America. Further, the company will maintain its important relationship with Host Marriott, the owner of the North 
Host Marriott Corporation Converting Boston Swissotel to Hyatt 

BETHESDA, Md., April 28, 2003 - Host Marriott Corporation (NYSE: HMT) today announced that its 500-room Swissotel in Boston will be re-flagged to a Hyatt Regency, effective June 26, 2003, building on its relationship with this world-class operator.  Christopher J. Nassetta, president and chief executive officer stated, "We believe that the broader brand name recognition and resources of Hyatt, including the strength of Hyatt's national sales organization, central reservation system and guest loyalty programs, are expected to further enhance operations and drive profitability at the hotel in the long term."

American hotels and work together to explore future expansion of the Swissotel brand in The Americas.

Senior Vice President Operations, The Americas, Mr. Thomas Klein, said, "We've had many great successes in Boston during our time there. Our team, headed by David Gibbons as General Manager, have made an indelible imprint on the city that will long be remembered."

David Gibbons will be relocated to the company's prestigious Swissotel New York, The Drake as General Manager once the management contract ends.

Raffles International's hotels and resorts are marketed under a two-tiered brand structure. The "Raffles brand" hotels distinguish themselves by the highest standards of products and services available in major cities on an international level. The "Swissotel" hotels offer quality accommodation and the full range of modern facilities and amenities expected by today's discerning traveller, with an emphasis on quality and comfort. Many hotels in the Raffles International portfolio have been voted top hotels in the world.  These include the legendary Raffles Hotel, Singapore, Raffles Brown's Hotel, London, Raffles Hotel Vier Jahreszeiten, Hamburg, Raffles L'Ermitage Beverly Hills, California and Le Montreux Palace, Montreux.

Raffles International Hotels & Resorts is the hotel management subsidiary of Raffles Holdings Limited. Raffles Holdings Limited's portfolio comprises hotels and resorts representing the Raffles and Swissotel brands in major destinations across Asia, Australia, Europe, North America and South America. Raffles Holdings is a subsidiary of CapitaLand Limited. 


 
Contact:
Raffles International Hotels & Resorts
Thomas A. Klein
Senior Vice President, Operations
The Americas, +1-312-565-8247
[email protected]
http://www.raffles.com


 
Also See: Raffles Renames Four Landmark Hotels; Appoints Yvette Thuering General Manager at Raffles Brown's Hotel, London / March 2002
Raffles Holdings Limited Enters Agreement to Acquire Swissotels for Approximately US $240.0 million; Includes Management Contracts for 23 Hotels / April 2001 


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