Golden Tulip reveals new UK strategy

27th Sep 2007

Golden Tulip Hospitality has announced it’s intention to directly purchase hotel assets in the UK, now that its Master Franchisee (Golden Tulip UK) has been sold to Whitbread PLC.Golden Tulip will make available for UK acquisitions an initial sum of GBP 50 million in pursuit of acquisitions.
The hotel development will consist out of greenfields and conversions. In the course of five years, 30 hotels are expected to be developed of which 20 Tulip Inns and 10 Golden Tulips.
Golden Tulip will announce its Management Team composition in the coming months.
Hans Kennedie, President & CEO of Golden Tulip Hotels, Inns & Resorts: “Over the past five years Golden Tulip (UK) has successfully developed and operated several Tulip Inns and one Golden Tulip. The results have been positive and it clearly appears that the brands are strongly preferred by the British customers. The fact that the hotels have been sold to Whitbread PLC is a development which happens in our industry and we just have to continue on our journey to provide the British market with our hospitality brands. I am confident that we will be back on the road soon again.”
For the avoidance of doubt, Golden Tulip announces that the Master Franchise with Golden Tulip (UK) Ltd. is now terminated and that Golden Tulip Hospitality will lead the development initiatives from its corporate offices in Amersfoort, The Netherlands and Lausanne, Switzerland. 
The very successful Tulip Inn Manchester, which is located opposite the Trafford Centre and is under separate ownership, will continue to operate under the Golden Tulip franchise.


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