Shangri-La Hotels and Resorts announced today its first hotel in the United States, the Shangri-La
Hotel, Chicago. The group signed a management contract with Waterview LLC,
the project’s developer, to operate the luxury hotel, which will open in
early 2009 in the new Waterview Tower located along the Chicago River at
the corner of West Wacker Drive and Clark Street.The 200-room   hotel will be situated on floors 12 through 27 of the
90-story Waterview Tower,  which will be within walking distance of the
Magnificent Mile,  Millennium Park,  Lake Michigan,  the city’s central
business district and world-class theaters and museums.  The tower, which
will also feature 233 elite residential condominiums, was designed by
renowned architect Thomas Hoepf, AIA, of the nationally recognized design
firm   Teng   &  Associates.  At 1,050-feet (320-meters),  the mixed-use
development will be the fifth tallest building in Chicago.

“We took great care to find the very best location for our American debut,
and we believe the Waterview Tower is the ideal launching pad for our brand
within the U.S.,”  said Giovanni Angelini, Shangri-La’s chief executive
officer and managing director. “Our reputation has been built over three
decades in Asia Pacific and the Middle East, and we are excited that our
signature warm and gracious style of Asian hospitality will be introduced
to America in Chicago.”

The Shangri-La Hotel,  Chicago will bring new standards of luxury to the
city with sweeping views of the Chicago River and Lake Michigan, exquisite
exterior   and   interior   design,  spacious   guestrooms   and   suites,
round-the-clock butler service,  a signature spa, restaurants and meeting
space.

“We are extremely delighted and honored that Shangri-La has selected
Waterview Tower and Chicago as their entry into the United States,” said
Ivan Dvorak, chief executive officer of Waterview LLC.  “Shangri-La Hotels
and Resorts is regarded as Asia’s finest luxury hotel group, and the deluxe
Shangri-La Hotel,  Chicago will be a perfect complement to our beautifully
appointed residential condominiums.  It will play a significant role in
putting Waterview Tower on the international map as well as making it the
ultimate address in Chicago.”

The hotel’s restaurant options will include the street-level Wintergarden
Lounge,  serving breakfast,  lunch,  afternoon tea, pre-theater supper and
light evening meals,  and the Sunset Promenade, overlooking the Chicago
River and offering light lunches,  afternoon refreshments plus evening
cocktails. The hotel’s Asian feature restaurant will specialize in creative
seasonal cuisine presented in a chic environment reflective of the nearby
theater district.

Shangri-La’s spa brand “CHI, The Spa at Shangri-La” will also debut in
Chicago, offering treatments based on ancient Chinese and Himalayan healing
therapies.  Designed to create a sanctuary of tranquility inspired by the
legend of “Shangri-La,” CHI will feature seven spacious private suites that
will provide a “spa within a spa” atmosphere.  In addition, the hotel will
have   a   24-hour   fitness   club   in   a   windowed   6,000-square-foot
(557-square-meter)  space offering the latest fitness equipment, indoor
pool,  whirlpool,  steam and sauna room, a juice bar, plus a separate yoga
and Pilates area.

Designed to be a popular social and meeting destination, the hotel will
offer private function rooms and a grand ballroom accommodating up to 250
guests for cocktail receptions and 180 guests for dinner. The hotel’s
business center will provide private work stations, a boardroom and a
“green room” for VIPs.

The 200 hotel condominium units will be offered for sale to individuals by
Waterview LLC.  Hotel condominium unit owners will be entitled to personal
use as well as participation in the hotel-managed program.

Shangri-La Hotels and Resorts is in advanced negotiations to open
properties in other strategic North American gateway cities.
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