Raffles Concludes Management Contract

affles 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 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.

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