International Hotel Investments Plc

Related Party Transaction • Apr 16, 2018

COMPANY ANNOUNCEMENT

Bucharest contract for QP Management Ltd

Following the announcement of 28 March 2018 on the signing of a management agreement for the operation by Corinthia Hotels Limited of a luxury property to be developed in Bucharest, International Hotel Investments plc (IHI) wishes to further announce that QP Management Limited (QP) , another wholly owned subsidiary of IHI, has since been engaged by the owners of the project to manage the development in all technical respects.

QP will provide project and cost management services, as also act as the owner's representative in coordinating the design, managing the sub-consultants including interior design, back of house, laundry, food and beverage, building services, architecture, structure, and lighting design. QP will in effect lead, manage and supervise the design, conversion and fitout of the existing listed property.

The former Grand Hotel du Boulevard is a landmark in Bucharest, originally built in 1867, and now being reconverted to a luxury hotel, offering 50 suites and other dining and leisure amenities.

A target date of December 2019 has been set for the completion of the project.

Alfred Fabri Company Secretary

16 April 2018