RED PLANET HOTELS DELIVERS ON AGGRESSIVE EXPANSION STRATEGY FOR GLOBAL CHAIN

Emerging Asian hotel investment company – Red Planet Hotels – continues to chronicle an impressive array of achievements as it forges ahead in its mission to place multiple limited service hotels in key Asian cities. In recent significant developments for the company, the number of rooms it has under construction surged past 1,000 this week, fuelled by the injection of fresh investment capital. Red Planet Hotels Chief Executive Officer, Tim Hansing, said the company is developing a portfolio of Tune hotels in China, Indonesia, the Philippines, Thailand and Bangladesh. It currently has 1,023 hotel rooms through six hotels in Jakarta, Bangkok, Pattaya, Angeles City and two in Manila, with more announcements expected soon. All Red Planet-owned hotels operate under a franchise agreement with Tune Hotels. Tune Hotels is part of the Tune Group, the private investment group of Tony Fernandes, founder and Group CEO of low cost airline AirAsia and Team Principal of the Lotus F1 Racing team. "Tune Hotels' business model is solid and complements our investment methodology," Mr Hansing said from the Hotel Investment Conference Asia Pacific in Hong Kong today. "Even though many investment companies have been looking to contain expenses and put expansion on the back burner, we were able to go out at the end of the global financial crisis in 2009 and raise significant capital. "To be able to raise funds and then to quickly secure sites and contracts to have over 1,000 keys under construction is a tremendous achievement and testament to the strength of our experienced management team and the Tune Hotels business model. "We are looking for more opportunities to expand in Asia's emerging markets with multiple sites in key cities, particularly those that Tune Hotels have interest in." Mr Hansing added the limited service hotel synergy presented Red Planet Hotels with some fantastic opportunities for expansion across the region and sites are continually being scoped and investigated. Group CEO of Tune Hotels, Mark Lankester said: "We are very pleased to be extending our portfolio in Asia. "It is right where we need to be and we are delighted that our partner Red Planet has kicked off its expansion plans as it will provide for great economies of scale and most importantly add value to accommodation for consumers and travellers." Tune Hotels is a rapidly growing chain of hotels that have embraced the limited service model used by low cost airlines and employs a self-service online booking system encouraging guests to book early to enjoy low prices. Using the demand-based pricing booking system, guests can book rooms at prices starting from USD3 (or even lower during promotion periods) through the web at www.tunehotels.com. It currently operates ten hotels, seven in Malaysia, two in Indonesia and one in England and has entered into strategic partnerships to open 20 hotels in India and a further 14 hotels in the United Kingdom. For further information or one on one interviews, please contact: Tim Hansing Chief Executive Officer Red Planet Hotels Limited Tel: +66 (0) 2 207 2951 E-mail: [email protected] www.redplanethotels.com Biresh Vrajlal PR, Marketing & Communications Manager Tune Hotels DL: +6 (03) 7962 5711 HP: +6 (012) 278 6225 Fax: +6 (03) 7955 5899 Email: [email protected] www.tunehotels.com Mark Armsden Director Delivering Asia Communications Tel: +6684 121 4930 E-mail: [email protected]

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