International Hotel Investments plc - Interim Directors’ Statement

Monday, May 11th, 2015

On 11 May, International Hotel Investments plc issued its Interim Directors’ Statement updating the market on its performance during the first quarter of 2015.

During the period under review, the IHI-owned hotels and the 50% associate Corinthia London Hotel continued to perform better than in the previous corresponding period excluding the hotels in Tripoli and St Petersburg where external force majeure factors continued to affect demand for accommodation.

The management of the Corinthia Hotel Tripoli has taken all the necessary steps to reinstate the hotel to an operational mode and a gradual reopening has taken place providing certain services commensurate with the demand. The adjoining offices continue to operate efficiently.

The announcement also reiterated that IHI entered into a conditional agreement with Island Hotels Group Holdings plc (IHG) to acquire all the outstanding shares of IHG. The necessary due diligence exercise on IHG is being carried out and this transaction will feature as an agenda item at the forthcoming Annual General Meeting of IHI on 11 June 2015.

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