Article: Raffles International Concludes Management Contract of Swissotel Boston But Continues to Manage Hotels in Host Marriott Portfolio.

CHICAGO -- CHICAGO, April 28 /PRNewswire/ -- Raffles International Limited has announced today the finalization of terms for handover of Swissotel Boston to Host Marriott on 25 June, 2003. However, the Group will continue to manage three other Swissotels in North America, namely Swissotel Atlanta, Swissotel Chicago and Swissotel The Drake, New York; and Swissotel Lima, Peru and Swissotel Quito, Ecuador in South America. Further, the company will maintain its important relationship with Host Marriott, the owner of the North American hotels and work together to explore future expansion of the Swissotel brand in The Americas.

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