PROTEA HOTELS ANNOUNCE ENTRY INTO GHANA - 20 September 2006

Protea Hospitality Corporation has announced its entry in Ghana, as part of their drive for further expansion into Africa. "We are extremely pleased to announce this growth into Ghana, a natural expansion along the business axis of West Africa," said Bernard Cassar, Protea Hotels Director, Special Projects for the Africa Region.

The first hotel that is to open under the Protea Hotel banner is Protea Hotels Accra. Situated in the country's capital and business hub, this hotel is currently 80% complete and due to open in February 2007. Cassar continued, explaining that Accra, Ghana is the English speaking gateway into Francophone West Africa and that Protea Hotels has been on the lookout for property in this area for many years. "We have had our eye on Accra, Ghana, for some time now, awaiting the right opportunity to enter into this business growth centre," he explained.

The property development includes two phases, with the first phase of this project being a 100-bedroomed 3-star hotel situated between the airport and the city centre of Accra. The second phase is to include an additional 60 bedrooms on the adjacent property, the planning of which has already commenced.

Ghana, a West African country bordering on the Gulf of Guinea, is bounded by Cote d'Ivoire to the west, Burkina Faso to the north, Togo to the east and the Atlantic Ocean to the south.