Acquisition

Park Plaza Hotels Limited
20 February 2008



                                                                20 February 2008

                         Park Plaza Hotels Limited
                       ('Park Plaza' or the 'Group')

               Acquisition of Park Plaza Westminster Bridge hotel

Park Plaza Hotels Limited, an owner and operator of 4-star hotels in Europe and
the Middle East, has today acquired, through its wholly-owned subsidiary, Euro
Sea Hotels N.V., the 66 per cent of Marlbray Limited ('Marlbray') it does not
already own.  As a result, the Group has increased its ownership interest in the
Park Plaza Westminster Bridge project to 100 per cent.

The prestigious Park Plaza Westminster Bridge apart-hotel, which Park Plaza will
also operate, is expected to open in 2010.  It is situated at the southern end
of Westminster Bridge close to the recently opened Park Plaza County Hall and
Waterloo Station.  As previously announced, planning permission for an
additional floor will result in the hotel having 1,037 apartments when
completed, which will make it one of the largest hotels in London, with state of
the art conferencing facilities.

A £221 million facility for the Park Plaza Westminster Bridge project has been
obtained from Bank Hapoalim; the facility is intended to be repaid out of
pre-sales of apartments.  To date, 820 of the 1,037 apartments have been
pre-sold at an aggregate price payable on completion of the hotel of
approximately £234 million.

As disclosed in Park Plaza's admission document, Savills appraised the value of
the Park Plaza Westminster Bridge project as at 5 June 2007 at €125 million.
The Directors of Park Plaza believe that the current value of the project is not
less than this appraisal value. This does not take into account the corporation
tax charge which will arise when the underlying apartments are sold.  As at 31
December 2007, the unaudited net asset value of Marlbray as shown in the Park
Plaza accounts was €18.15 million. For the year ended 31 December 2007, during
which the Park Plaza Westminster Bridge project was in the construction phase,
Marlbray made an unaudited loss of €0.03 million.

The total cost of the acquisition of the 66 per cent of Marlbray, including the
settlement of a fee payable by Marlbray to Irish Nationwide Building Society
(which provided finance for the early stages of the project), is approximately
£10.27 million in cash and the issue of 735,000 new ordinary shares in Park
Plaza.

Application has been made to AIM for the admission to trading of the 735,000 new
ordinary shares being issued in connection with the acquisition. The shares are
expected to be admitted to trading on 21 February 2008.

Boris Ivesha, CEO of Park Plaza, said:

'We are delighted to have secured 100% ownership interest in the Park Plaza
Westminster Bridge property.  This prestigious development in the centre of
London remains on track to open in 2010 and is expected to add an additional
1,037 rooms to our portfolio. The sale of the apartments during the development
phase has already attracted significant interest from investors and we are
extremely pleased with the number of pre-sales achieved to date.  When complete,
Park Plaza Westminster Bridge will be one of the largest hotels in London and
will offer customers unrivalled state of the art facilities.'



                            www.parkplazahotels.net
                       http://www.1westminsterbridge.com/


Enquiries:


Park Plaza                                             Tel: [phone]
Boris Ivesha/Chen Moravsky

Hudson Sandler
Jessica Rouleau/Wendy Baker                            Tel: [phone]



Notes to Editors



Park Plaza Hotels Limited is owner, operator and franchisor of hotels in Europe,
the Middle East and Africa.  The Group operates under two brands: Park Plaza
Hotels & Resorts (part of Carlson Hotels Worldwide), over which the Group has
exclusive rights in 56 countries in EMEA and art'otel, a brand to which the
Group has exclusive worldwide rights.  Park Plaza Hotels also manages the luxury
all-suite Plaza on the River - Club and Residence, London.



Through it strategic partnership with Carlson, one of the world's largest travel
and hospitality companies, Park Plaza Hotels has access to Carlson's powerful
reservation and distribution system, airline partnerships with 19 airlines,
loyalty programmes such as goldpointsplusSM for guests and Look To Book(R) for
travel agents, and cross-selling opportunities.



There are currently 26 properties and over 4,700 rooms in the Group's portfolio.
By 2010, the Group's committed projects and territorial franchise agreements
are expected to increase the number of rooms to over 8,000.

Projects already under development include Park Plaza Marrakech (2009), art'otel
cologne (2009) and Park Plaza Westminster Bridge, London (2010).

In July 2007, Park Plaza Hotels floated on London's AIM Stock Market.


Marlbury Limited is the developer of the prestigious apart-hotel at the southern
end of Westminster Bridge close to Park Plaza County Hall and Waterloo railway
station.  Prior to this transaction, Park Plaza had a 33 per cent ownership
interest in Marlbray Limited and the remaining two-thirds were held by Galliard
Homes, Paul White and Alex Cope.



                                      END





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