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Eastern European Markets
NEWS RELEASE
February, the 3rd, 2008

Reval Hotels to open new hotels in Latvia and Lithuania in spring 2008

Reval Hotels is expanding its operations and is set to open two new hotels in spring 2008. The two new hotels, the Reval Hotel Elizabete and the Reval Hotel Neris will strengthen the position of Reval Hotels as the leading hotel chain in the Baltic countries taking the total number of hotels to 11 including three Reval Inn hotels in Tallinn, Vilnius and Klaipeda.

Reval Hotel Neris will open in Kaunas, Lithuania’s second city, on 17th March 2008. The hotel will have 208 modern and functional rooms, a restaurant, bar, casino and a large Conference & Event Centre with the latest technology. The total investment in this hotel amounts to EUR 25 million. Currently there are no professional meeting and conference facilities in the city of Kaunas, so Reval Hotel Neris will open up a completely new market, giving international conference organisers a fresh and attractive destination to include in their programs. Kaunas is a lively University city and industrial hub with a population of 400,000, located in central Lithuania.

Reval Hotel Elizabete will open in the beginning of April 2008 and is a new, contemporary hotel perfectly placed in the heart of Riga's shopping and business centre, opposite Vermanes Park on Elizabetes Street and just a five-minute walk to the boutique shops, restaurants and exciting nightlife of the Old Town. The property will have 228 spacious, comfortable and bright rooms featuring a stylish design. The hotel also boasts a restaurant offering informal cuisine, a lobby bar, several meeting rooms, a fitness centre and underground car parking. The total investment in this hotel amounts to EUR 30 million.

About Reval Group:

The Reval hotel group is the leading hotel chain in the Baltic countries, operating six full-service, first-class – Reval Hotels - located in the Baltic Capitals: three in Tallinn, Estonia, two in Riga, Latvia and one in Vilnius, Lithuania. In addition, the group also offers a second brand – the Reval Inn – which is an economy class hotel chain with three hotels in Tallinn, Estonia, and Vilnius and Klaipeda, Lithuania.

Reval Hotels and Reval Inn are owned by the Norwegian real estate investment company Linstow AS, owned by the Anders Wilhelmsen Group, major shareholder of the world’s second largest cruise shipping company Royal Caribbean Cruise Lines.

For more information about Reval Hotel Neris:
Juha Mähönen
Country manager of Reval Hotels in Lithuania
Juha.mahonen@revalhotels.com
Tel + 370 6556 4300
For more information about Reval Hotel Elizabete:
Kari Hiltunen
Country manager of Reval Hotels in Latvia
Kari.hiltunen@revalhotels.com+ 371 677 2277

www.revalhotels.com


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