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Amersfoort, Holanda , December 20th, 2003.

Golden Tulip its pruod to announce the first franchise agreement in Mexico.

Tulip Inn Ritz México Hotel, joins Golden Tulip chain, since January 1st, 2004. Located in the
heart of the historic downtown, the hotel itself carries a long history
and tradition with mexican hospitality.
 
Tulip Inn Ritz Mexico Hotel offers 120, a Restaurant, a Bar, a solarium, internet
service, two Boardrooms and a banquet hall up to 100 people.
 
Jose Paoli Montesinos, General Manager, says: “ It`s a pleasure for me to get the opportunty  to join
to Golden Tulip franchise about the concept of “International Standars, local flavours”
 provides to the hotel the chance to compit in an international level,  keeping
our atmosphere and mexican hospitality.
 
Hans Kennedie president and CEO in Golden Tulip, says: “We are glad to give a warm wellcome
 to Tulip Inn Ritz Hotel, as our new and first hotel in Mexico, because it represents the
quality standars of a Tulip Inn, mixed with the typical art of the mexican hospitality.
 In May 2003, Mrs. Ma. Elena Quiroga and Mrs. Adriana Restrepo were named our
 development specialists in Mexico. Their office is located in Utell International office. 
I`m very proud about the job done in this region and we`re expecting  to join more
hotels to Golden Tulip Hotels. Inn & Resorts in Central America. Our goal is
get a group about 30 to 40 hotels in Mexico`s area and Central America
from short to middle period of time.