SOLARECorporate InformationPress Release > Solare Hotels & Resorts to Open Chisun Grand Hakodate in July 2008

Press Release

Solare Hotels & Resorts to Open Chisun Grand Hakodate in July 20082008.04.23

Solare Hotels & Resorts Co. Ltd. (http:// www.solarehotels.com/english/) is set to commence operations of a second hotel in Hakodate City. Formerly Hotel JAL City Hakodate, the property is scheduled to reopen under Solare management as the Chisun Grand Hakodate in July 2008, after undergoing substantial renovations to guestrooms and other facilities.

Chisun Grand Hakodate is located at the foot of Mt. Hakodate, a popular Japanese tourist destination boasting one of the world’s three greatest night views. Situated only 30 minutes from Hakodate airport by shuttle bus, and within easy walking distance of the tram, the hotel is conveniently positioned to attract both leisure and business travelers.

Solare currently operates three Chisun Grand hotels in Japan, in Sapporo (Hokkaido), Sasebo City (Kyushu) and Akasaka (Tokyo). In July 2008, another Chisun Grand property is scheduled to open in Kyushu’s Nagasaki City, bringing the total number of Chisun Grand hotels to five.

Solare Hotels & Resorts CEO A.G. Virili states: “As with other Chisun Grand properties, Chisun Grand Hakodate will feature a Grand Floor of executive-class guestrooms fitted with upgraded furniture and amenities, and offering a level of service which will satisfy even the most discerning of executive travelers. Within our Chisun portfolio, Chisun Grand is positioned to provide an even more stylish and differentiated experience than other Chisun brands. Now we have five Chisun Grand properties operating in our market, and we are working to further strengthen the identity of the brand.”

For details of Chisun Grand Hakodate, please refer to the following profile:

【Address】 22-15 Horaicho, Hakodate City, Hokkaido
【Opening】 Scheduled for July 2008 (TBD)
【Size】 12 stories with one underground level
Lot area of 1475.92 m2, total floor area of 6115.18 m2
【Guestrooms】 130 (30 single, 90 twin, 10 double)
【Facilities】 Restaurant, banquet room and more
【Access】 Approximately 30 minutes by shuttle bus from Hakodate Airport
Within easy walking distance of the tram