Golden Tulip has
announced the signing of a management agreement for the Golden Tulip
Vejle (the former Hotel Australia in Vejle), effective as per May 1st
2007. The 102 rooms Golden Tulip Vejle is the first hotel of Golden Tulip’s
expansion strategy to reach a portfolio of 30 hotels (both managed and
franchise) in Scandinavia in the coming years.

Built in 1957, the eleven-story hotel offers 102 elegantly furnished
rooms fully equipped with all the facilities to meet both business and
leisure guests. This Modern high-rise hotel is located in the city
center at walking distance to Vejle Train Station and shopping center.

The hotel will be fully renovated and the top floors will be converted
to bedrooms, bringing the total up to 106 superior first class rooms.
The Conference center will be renovated into a “Let’s Meet Again” centre
and Golden Tulip’s restaurant concept: Branche, Restaurant, Bar & Lounge
will be introduced on the ground floor.

Vejle is a picturesque town located at the head of Vejle Fjord. The
Vejle region in Denmark is a popular tourist destination; it has a
unique landscape of Fjords, rivers, valleys and woods. This picturesque
town’s attractions include the Lion Park, Zoo, Legoland and Trapholt
Museum.

Mr. Hans Kennedie, President & C.E.O. of Golden Tulip Hospitality Group,
states: “It is with great excitement that we embark in this project.
This is an important step in the development of the Golden Tulip
portfolio across the Scandinavian region and for the group in general.
Due to the high level of domestic travel within Denmark and the increase
in air travel from the Scandinavian countries to Europe, we are looking
at a substantial increase in brand recognition for the entire group with
each new addition.”

Mrs. Mette Linneballe, owner and developer (Copenhagen Properties) of
the hotel comments: “We are delighted to join the Golden Tulip family.
With the international recognition of the Golden Tulip brand and
successful management formula we are confident that Golden Tulip will
provide the hotel an international awareness and high in revenues.
Scandinavia is in need of a dynamic brand, like Golden Tulip. For too
many years our hospitality industry has been dominated by the typical
Scandinavian brands and it is time for a new Continental European chain
with new concepts and services, like Golden Tulip.”

Golden Tulip further franchises the Golden Tulip Glostrup Park in
Denmark and is also looking for further expansion and franchise
agreements in the Scandinavian cities.
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