Golden Tulip Expands In Thailand

BANGKOK, THAILAND - Global hospitality management conglomerate Golden Tulip has continued its strategic expansion into South-east Asia with the recent signing of two hotels in Thailand's popular resort destination of Pattaya.

Golden Tulip already boasts more than 213 hotels in 37 countries with 25,600 rooms and from the beginning of March the Royal Orchid Pattaya will be re-branded as the Golden Tulip Resort Pattaya and positioned as an ideal getaway destination for families and short break guests. The Erawan Hotel Pattaya will re-branded to the Golden Tulip Erawan Hotel showcasing superb facilities for meetings and incentives and leisure travellers.
Both Pattaya properties will undergo extensive renovations to bring them up to Golden Tulip operating standards and will officially re-open in early March. The two hotels were officially signed over to new management on February 3.

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Starwood Capital Completed Golden Tulip Acquisition

London, Paris, Rotterdam, July 31, 2009 - Starwood Capital, through an affiliate, announces today that it has completed the acquisition of Golden Tulip Hospitality BV’s Franchise business, its Development & Representation businesses, Joint Venture interests, and the brands, trademarks and intellectual property of Golden Tulip, Tulip Inn and its related brands.

Starwood Capital to buy most of Golden Tulip hotels

PARIS, July 7 (Reuters) - U.S. investment company Starwood Capital Group Global LP said it was buying around 240 of the 260 hotels run by loss-making hotel operator Golden Tulip for an undisclosed amount.
Golden Tulip Hospitality Group, which went into voluntary receivership earlier this year, had at one time been discussing a possible merger with Apollo Hotels & Resorts.

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http://www.reuters.com/article/marketsNews/idINL713921020090707?rpc=44

STARWOOD CAPITAL ENTERS EXCLUSIVITY TO ACQUIRE GOLDEN TULIP HOSPITALITY

London, Paris, Lausanne, June 12, 2009 - Golden Tulip Hospitality BV, in consultation with the Trustees, and an affiliate of Starwood Capital Group Global (which itself controls, through an affiliate, Louvre Hotels SAS) have agreed terms for an affiliate to acquire the Company’s Franchise business, its Development & Representation businesses, Joint Venture interests, and the brands, trademarks and intellectual property of Golden Tulip, Tulip Inn and its related brands.Subject to confirmatory due diligence the transaction is expected to complete by June 26th 2009.It is the intention of Starwood Capital Group to grow the Golden Tulip brands in existing and emerging markets, leveraging off the Louvre Hotels distribution platform through a strategic alliance between Louvre Hotels and the Golden Tulip businesses.

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http://corporate.goldentulip.com/pressroom/news.aspx?id=276&NewsLanguage=EN&year=&pageAt=1

Starwood Capital to acquire Golden Tulip | Group becomes the 11th largest hotel group in the world

Note: Starwood Capital is different from Starwood Hotels

Golden Tulip says 13 Netherlands hotels bankrupt