Rezidor and Andermatt Swiss Alps announce the Radisson Blu Resort, Andermatt, Switzerland

Brussels, Belgium | July 19, 2010

The Rezidor Hotel Group, one of the fastest growing hotel companies worldwide, announces their 8th property in Switzerland: The Radisson Blu Resort, Andermatt featuring 240 rooms is scheduled to open its doors in 2013. It will be part of the project “Andermatt Swiss Alps”, a master development overseen by Orascom Development Holding AG and including six new hotels in the 4- and 5-star sector, some 490 apartments in 42 buildings and 25-30 villas. An 18-hole championship golf course and sport & commercial areas will complement the project which will turn Andermatt in an exclusive year-round holiday destination. For Andermatt Swiss Alps, Radisson Blu is the second hotel cooperation.

“Rezidor is expanding its young, contemporary and successful resort portfolio which now features 45 properties with more than 10,700 rooms in operation and under development across Europe, Middle East and Africa”, comments Kurt Ritter, President & CEO of Rezidor. “Andermatt as a well-established winter sport destination is a perfect fit for us – we are looking forward to also building up the summer business together with our partners”, continues Ritter.

"We are proud that we could convince a well known chain like Radisson Blu of our year-round destination Andermatt Swiss Alps”, says Gérard Jenni, Managing Director of Andermatt Swiss Alps AG, building company and 100%-owner of the new Radisson Blu Resort. “The broad experience of our attractive business partner will certainly also guide our congress hotel in Andermatt to success”, adds Jenni.

Andermatt lies at the foot of the Gotthard Massif in Switzerland. Its ski facilities, renowned for excellent snow falls, will be upgraded and modernized resulting in 130 km of varying ranges of ski slopes to suit all levels. When slopes, golf and recreation no longer beckon, Andermatt is the ideal starting point for a variety of excursions. Lucerne and the Lake of Lucerne; the elegant metropolis of Zurich; Berne and its historic old town (UNESCO World heritage site); and the neighbouring canton of Ticino with its Mediterranean flair are only some of the famous sights of Switzerland.

Radisson Blu (formerly: Radisson SAS) is Rezidor’s First Class- and full service core hotel brand. It has expanded naturally from its Scandinavian home base. Ranging from small boutique hotels to city landmark hotels, from ultra-modern “new breed” properties to great classics, you will find Radisson Blu hotels in world capitals, city centers, leisure resorts and airports too. They are designed to be different, consistent by standard, highly equipped and individual by choice.

Radisson Blu aims to be a market leader by combining its unique and stylish approach to hotel hardware with its “Yes I Can!” spirit of hospitality on the software side. It has a long history of industry leading, innovative thinking designed to meet the very specific needs of guests. These innovations include not only “Yes I Can!” but also concept rooms and design systems, its 100% Guest Satisfaction Guarantee, its One Touch Service, its Easy Connect approach to IT where broadband internet access is free in all areas of the hotel, its Super Breakfast with Grab & Run option, its partnership with Nespresso and its commitment to Meeting & Events service standards.

Facts and figures
The Radisson Blu Resort, Andermatt will be designed by the architects Burkhalter Sumi (Zurich). In two buildings with wooden façades it will comprise 240 keys – regular guest rooms as well as spacious apartments ranging from 1 to 3 bedrooms. In addition to a restaurant and bar, 1,700 m2 of conference space is planned making the Radisson Blu a must-see meeting destination which will also feature a multi-functional concert hall for up to 700 guests. A spa with an indoor swimming pool, retail shops, game room and children’s club are also foreseen.

For further information please contact
Christiane Reiter, The Rezidor Hotel Group, Director Corporate Communication
32 2 702 9331, christiane.reiter@rezidor.com

Renu Snehi, The Rezidor Hotel Group, Director Corporate Communication
32 2 702 9241, renu.snehi@rezidor.com

Mamdouh Abdel Wahab, Director Investor Relations, ORASCOM DEVELOPMENT HOLDING AG
20123153200; mabdelwahab@orascomdh.com

Ursi Ineichen, Head Corporate Communication Andermatt Swiss Alps AG
41 41 874 17 81; ursi.ineichen@andermatt-swissalps.ch

About The Rezidor Hotel Group

The Rezidor Hotel Group is one of the fastest growing hotel companies in the world. The group features a portfolio of more than 400 hotels in operation and under development with more than 86,300 rooms in over 60 countries.

Rezidor operates the brands Radisson Blu Hotels & Resorts, Regent Hotels & Resorts, Park Inn and Country Inns & Suites in Europe, Middle East and Africa, along with the goldpoints plusSM loyalty programme for frequent hotel guests. Under a worldwide licence agreement with the iconic Italian fashion house Missoni, Rezidor also operates and develops the new lifestyle brand Hotel Missoni.

In November 2006, Rezidor was listed on the Stockholm Stock Exchange. Carlson Companies is the main shareholder.

The Corporate Office of the Rezidor Hotel Group is based in Brussels, Belgium.

For more information on Rezidor, visit www.rezidor.com

About Andermatt Swiss Alps AG

Andermatt Swiss Alps AG is a wholly owned subsidiary of the Swiss Exchange SIX traded Orascom Development Holding AG. Andermatt Swiss Alps AG is developing an integrated holiday destination in the Swiss mountain village of Andermatt.

For more information, visit www.andermatt-swissalps.ch

About Orascom

Orascom Development Holding AG (Orascom Development) is a leading developer of fully integrated towns that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. Orascom Development’s diversified portfolio of projects is spread over nine jurisdictions, with primary focus on touristic towns and recently affordable housing.

For more information, visit www.orascomdh.com

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