Development

Holiday Inn in the WALT DISNEY WORLD(R) Resort scheduled to open this fall as the only Holiday Inn on Disney property

Sale of Entire Hotel Inventory Will Be Open to the Public

InterContinental Hotels & Resorts announces that its planned hotel in Moscow, InterContinental Moscow Tverskaya, is scheduled for completion in September 2010.

Mandarin Oriental International Limited announced that its wholly-owned subsidiary, Mandarin Oriental Holding Company Limited (‘MOHCL’), has completed the sale of its 50% interest in Mandarin Oriental, Macau to Sociedade de Turismo e Diversoes de Macau S. A.

Britain’s second-biggest budget hotel operator is continuing to seek acquisitions as its weaker rivals retrench

Shares of Ashford Hospitality Trust Inc (AHT.N) plunged 22 percent on Tuesday hurt by mounting problems for the company’s hotel lending portfolio after U.S. hotel chain Extended Stay Hotels filed Chapter 11.

Hotel Indigo Shanghai on the Bund will be located on a riverfront site along the Huangpu River. The 180-room hotel is scheduled to welcome and captivate customers in 2010.

MGM MIRAGE (NYSE:MGM) and New Giza for Real Estate Development – an Egyptian company building a luxury, mixed-use community near the base of the famous pyramids – today announced plans to develop the MGM Grand New Giza. All equity funding for the development will be provided by New Giza for Real Estate Development. MGM MIRAGE will provide management services and brand fees through MGM MIRAGE Hospitality.

The 322 rooms-property is scheduled to open in Q3 2009 to welcome its first guests during the holy month of Ramadan and is Rezidor’s second hotel in town – the group also develops the Al Madinah Paradise Radisson Blu Resort which will welcome the first guests in Q4 2010.

HVM L.L.C., said today that the Chapter 11 filing announced by the Board of Directors of Extended Stay Inc. should have no impact on operations of the chain of hotels.