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May 31, 2005
Acquisition of Hilton Otaru


Tokyo, Japan - May 31, 2005 -- Ishin Hotels Group’s President, Michael Nigitsch announces its recent acquisition of the Hilton Otaru from Otaru Hilton K.K.. The change in management of the hotel is effective as of Tuesday, May 31, 2005.

A franchise agreement between Hilton International and Ishin Hotels group has been agreed and the Hilton Otaru will continue operating under the same name as a member of Ishin Hotels Group. The hotel continues to remain the only luxury resort hotel in the Otaru area.

The Hilton Otaru is an upscale seaside resort hotel that is majestically surrounded by mountains and is exquisitely located in the Otaru Harbor and Canal, which is renowned for its breath-taking scenery and historical importance. In addition, it is centrally located and is part of an entertainment complex including movie theaters and a shopping center.

The Hilton Otaru is a thirty-minute rapid transit train ride from Sapporo, the largest city in Hokkaido, and located just off of the Sapporo Expressway’s Otaru exit. Since opening in 1999, the hotel has been a popular destination resort for guests traveling on both business and pleasure.

Plans for renovating the guest rooms and upgrading of services for meeting facilities and banquet space are currently underway.

Ishin Hotels Group is a joint venture established by Soros Real Estate Investors and Westmont Hospitality Group. Acquisition of the Hilton Otaru brings the number of hotels in the Ishin Hotels Group’s portfolio to 14 properties. Ishin Hotels Group will continue to acquire, own, and operate hotels nationwide.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Aya Aso, Vice President, Business Development or Madoka Masaka, Public Relations
10F., Shuwa Kamiyacho Bldg., 4-3-13, Toranomon, Minato-ku
Tokyo, 105-0001 Japan
Tel : +81-3-5733-7733
Fax : +81-3-5733-7734
Aya.Aso@ishin-jp.net
Madoka.Masaka@ishin-jp.net
http://www.ishinhotels.com/
or
Contact : NaritaTakeuji, Hori / Kyodo Public Relations Co., Ltd.
Tel : +81-3-3571-5171
Fax : +81-3-3574-1005

Hilton Otaru

Address : 11-3 Chikko, Otaru, Hokkaido 047-0008 Japan
Tel : +81-134-21-3111
Fax : +81-134-21-3322
http://www.ishinhotels.com/

Grand Opening :
 July 1, 1999

Facility outline :
 Land area / 5299.68 sqm.
 Total floor area / 26,703.08 sqm.

Facilities :
 Guest rooms : 296 rooms
 Banquet facilities : 8 rooms

Restaurant facilities :
 Terrace Brasserie
 Japanese Restaurant, Genji
 Marina Bar & Restaurant

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