SIPP.L Regulatory News (SIPP)

9 Nov 2006 11:23

Hotel Corp (The) PLC09 November 2006 9 November 2006 FOR IMMEDIATE RELEASE THE HOTEL CORPORATION PLC Strategic Review of Dawnay Shore Hotels plc The Board of The Hotel Corporation plc (the "Company"), whose principal asset isa 49.9% stake in Dawnay Shore Hotels plc ("Dawnay Shore Hotels"), announces thatit has been informed by Dawnay Shore Hotels that it has appointed N M Rothschild& Sons Limited and Shore Capital and Corporate Limited as joint financialadvisers to undertake a strategic review of Dawnay Shore Hotels' business. Thereview, which may include a transfer of Dawnay Shore Hotels' property assetsinto a REIT or a sale of Dawnay Shore Hotels as a whole, is aimed at maximisingshareholder value. There is no certainty that the review will result in anychange to the present ownership structure of Dawnay Shore Hotels. A further announcement will be made when appropriate. - Ends - Enquiries: N M Rothschild & Sons Limited Avi Goldberg Telephone: 020 7280 5000Shore Capital and Corporate Limited Graham Shore Telephone: 020 7408 4090Citigate Dewe Rogerson Patrick Donovan Telephone: 020 7282 2897 N M Rothschild & Sons Limited and Shore Capital and Corporate Limited are acting for the Company and Dawnay ShoreHotels and no one else in connection with the matters referred to in this announcement and will not be responsible toanyone other than the Company and Dawnay Shore Hotels for providing the protections afforded to the respective clientsof N M Rothschild & Sons Limited or Shore Capital and Corporate Limited or for providing advice in relation to thematters referred to in this announcement. Notes to editors: The Hotel Corporation The Hotel Corporation is an AIM quoted company which was established as a meansfor investors in publicly quoted companies to gain an interest in Dawnay ShoreHotels. The Hotel Corporation is currently a 49.9% shareholder in Dawnay ShoreHotels. The Hotel Corporation is an Isle of Man company, with its principal place ofbusiness and registered office in Douglas, Isle of Man. Dawnay Shore Hotels Dawnay Shore Hotels was established in 2004 by Dawnay, Day and Shore Capital,and currently owns a portfolio of 20 four star regional hotels in the UnitedKingdom. Dawnay Shore Hotels now operates under the Paramount brand ofdistinction and has also created a signature group of hotels. The portfolioincludes the world famous The Lygon Arms Hotel, a member of the Leading Hotelsof the World located in the Cotswolds; the prestigious Paramount Carlton Hotelin Edinburgh and the Paramount Oxford Hotel. Paramount hotels offer extensivebanqueting, conference and leisure facilities and many of them havearchitectural and historical significance. This information is provided by RNS The company news service from the London Stock Exchange