PRESS RELEASES

THURSDAY, JULY 12, 2007

Suva Airport Hotel Development moves forward with Intercontinental Hotels Group
Executive Development Properties (Fiji) Limited (EDP), the master developers for The Haven tourism development in Nausori, Fiji Islands, today announced an agreement in principle had been reached with InterContinental Hotels Group (IHG) for management of the hotel and serviced apartment complex.

Making the announcement, EDP Chairman, Dr Brad Carver said, “Following negotiations with a number of international, regional and local hotel management firms that responded to our Expression of Interest I am pleased to confirm that a Letter of Intent has been signed between IHG and EDP.

“EDP is delighted to have secured interest from such a high profile and experienced hotel management company and we are very pleased with how negotiations have been proceeding.

“With the three competing international architecture firms arriving in a few weeks to present design schemes for major components of the development we were keen to have the hotel management company involved in the selection process,” said Dr Carver.

InterContinental Hotels Group is a major international hotel company with seven hotel brands and over 3,700 owned, managed and franchised hotels worldwide. In Fiji IHG manages Holiday Inn Suva, Intercontinental Fiji – currently under construction as part of the Natadola resort project – and the renovation and extension of Crowne Plaza Grand Pacific Suva.

Dr Carver said that when the Suva airport hotel opens in 2010 it will be one of the largest in the region providing much needed new options for Fiji tourism development and the business sector.

IHG is expected to join EDP’s selection panel for the Architecture Design Competition when the scheme presentations are held in Suva this month.

The hotel planned for The Haven will have 180 rooms and 60 full serviced apartments with a number of food and beverage outlets and a conference centre facility, and will form part of a new retail mall development housing a multiplex cinema, a water park and entertainment facilities.

Sited adjacent to Nausori Town’s main street and accessed by Ross and Edward Cacabau Streets, The Haven is expected to redefine the town centre and form a catalyst for further development.

The Haven will be Fiji’s first multifaceted commercial tourism, entertainment and residential ‘mixed use’ property development for the Eastern Division of Viti Levu, Fiji’s main Island and home to Fiji’s Capital City, and regional ‘hub’ Suva.