PRESS RELEASE

STOP PRESS - Outline Planning Just Received for Gibraltar Hotel Project

Chairman of Lester Hotels, Simon Lester says "This is a significant step forward for the project and indeed for Lester Hotels.  We are delighted at the prospect of bringing a new hotel concept to Gibraltar and hope to break ground in Summer 2012".

New Airport Terminal Attracts New Hotel to Gibraltar

The Lester Hotel Group is pleased to announce plans to develop a new hotel in Gibraltar.  The new building in Devil's Tower Road will comprise of approximately 160 bedrooms and suites along with 3,000 sq m of modern office space and other hotel amenities.

Chairman of Lester Hotels, Simon Lester says "Following Government's major investment in a new air terminal and the associated tunnel and road infrastructure, our company identified the business opportunity to build a new hotel in the proximity of the airport.  Our company will bring the next generation of hotels to Gibraltar offering modern, spacious facilities at exceptional value.  The new hotel will complement teh new air terminal and provide much needed accommodation and facilities for the tourist, business and local community."

The Lester Hotel will be situated next to the Government's recently opened Park and Ride facility.  Each of the bedrooms will be designed to a four star standard and the top floor will be designed as a Club Floor where each bedroom has an adjoining lounge that converts to a boardroom for executive meetings.  There will be a gymnasium exclusively for guests and The Hub on the ground floor will incorporate a coffee shop, bistro and bar.  The first three floors will be dedicated to office space with approximately 1,000 sq m on each floor.  The hotel will be designed as environmentally friendly as possible and every effort will be made to minimise the carbon footprint of the new building.  Work is expected to commence in early summer of 2012, once the relevant planning permits have been issued and relocations have been completed.

"The Lester Hotel will be the next generation of modern premium budget hotels" says Lester "with four star standard air conditioned bedrooms and limited hotel services, so you only pay for what you need!" Lester Hotels is a proven hotel operator in the UK currently operating hotels of all types across the mid market sector.

Please see newspaper article http://www.chronicle.gi/headlines_details.php?id=20435