StayWell Hospitality Group Media Centre

Following the recent announcement of the purchase of Management Rights for four properties located in Brisbane, Cairns and Townsville, Kusido Hospitality & Property Group Pty Ltd, owner and operator of the Leisure Inn Hotels and Suites and Park Regis brands announced today that it has added three additional properties to its hotel network.

These transactions will see new properties located in Melbourne, Cabarita (New Tweed Coast) and Port Macquarie as the latest additions to its expanding portfolio of its hotel network in Australia which now stands at 16 properties.

The Melbourne property, located on Sturt Street in Melbourne's Southbank precinct, is under development and expected to be complete and open for trade by 1 July 2009.

This new property will be branded as Park Regis and will comprise of 105 large rooms over five floors, six meeting rooms, a full gymnasium, restaurant and bar area, guest parking and a business centre. The property will be of a 4-star standard, in line with the Park Regis market positioning.

The Cabarita Lakeside Resort is located on the banks of the beautiful Cudgen Lake, nestled against National Parkland with majestic views directly across to Mt Warning, the first place in Australia to be touched by the sun daily. The property is expected to open on 1 October 2007 and will be branded as a Leisure Inn Resort. The construction of 50 apartments in stage 1 is due to be completed over the next four weeks and construction on a further 30 apartments in stage 2 will commence immediately after the hotel's opening date. It is proposed that up to 120 apartments will eventually be available at the property.

Additional facilities at Cabarita Lakeside Resort will include a 120 seat restaurant with indoor and outdoor seating, conference rooms and a large outdoor pool. Rooms will feature innovative and state-of-the-art technology including in-apartment Media Desks with broadband, computer, MS Office Suite and a massive 26" LCD monitor. Cabarita is at the epicentre of the New Tweed Coast, which is becoming one of Australia's favourite holiday destinations.

Located 100 metres from the beach, the newly signed Port Macquarie property will be branded as a Leisure Inn Resort. Located on William Street, the 50 room serviced apartment hotel is anticipated to be completed late 2008.In addition to the spacious apartments on offer at the property, the hotel will provide guests a swimming pool, games room and BBQ area.

Leisure Inn Hotels and Suites' Chief Executive Officer, Mr Simon Wan, said that the addition of the Melbourne, Tweed Heads and Port Macquarie properties is a key component in the Leisure Inn Hospitality Management expansion plan which aims to see properties opening in major capital cities and regional areas in Australia, as well as a strong overseas presence, in the next 12 months.

"We are looking forward to announcing further additions to our portfolio in Perth, Adelaide, regional NSW and regional Queensland as well as additional properties in Sydney and Melbourne. Our overseas expansion to China, India, Malaysia, Singapore and Thailand is also set firmly on our agenda"

"Both the Leisure Inn Hotels and Suites and Park Regis brands represent quality at an affordable and realistic price in today's competitive market. Leisure Inn Hotels and Suites caters for the ever increasing demands for the mid-market 3 star accommodation sector. We also recognise the need to segment a higher quality of accommodation, which is how we see the Park Regis 4-4.5 star fitting the desires of our more discerning guests," he said.

With the objective to expand its existing portfolio of 16 hotel properties, the Leisure Inn Hospitality Management Group will continue to acquire freehold interests in existing hotels, entering into management agreements and leases of existing hotels and the development of new hotels.

Leisure Inn is proud to offer value-for-money accommodation with all hotels being centrally located with comfortable rooms, modern facilities and friendly, welcoming staff. Leisure Inn properties include Park Regis Hotel (Sydney), The Barclay Hotel (Sydney), Leisure Inn Suites - Kings Cross (Sydney), Hobart Macquarie (Hobart), Woolmers Inn (Hobart), Waterfront Lodge (Hobart) and Penny Royal Hotel & Apartments (Launceston), North Quay (Brisbane), City Quays (Cairns), Piermonde (Cairns) and Anchorage (Townsville) with more to be announced soon.

For further information, contact Rachel Pirie, Group Marketing Executive on 612 8198 9220 /
rpirie@leisureinnhotels.com

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