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Le M¨¦ridien Hotels & Resorts has signed an agreement to manage Le M¨¦ridien She Shan, People¡¯s Republic of China, currently under construction in the Songjiang Satellite City of Shanghai.

The second hotel to be managed by Le M¨¦ridien in the People¡¯s Republic of China, Le M¨¦ridien She Shan will open in the third quarter of 2005. The hotel is being developed by Shanghai Shimao Group, which also owns Le Royal M¨¦ridien Shanghai, currently under construction and also due to open in the third quarter of 2005.

Conveniently located within a one-hour drive from Shanghai City Centre, Le M¨¦ridien She Shan is located within the National Tourist Resort of She Shan. Known to be Shanghai¡¯s most beautiful and natural picturesque landscape, the area has been identified by Chinese authorities as a primary tourist precinct and will eventually comprise some 47 square kilometres of cultural and recreational facilities including sculpture gardens, golf courses, hotels and convention facilities. The five-star Le M¨¦ridien She Shan will feature 325 apartments and suites, all offering panoramic views of Yuehu Lake, as well as a state-of-the-art convention facility with capacity for up to 2,400 people, various food & beverage outlets and a comprehensive range of leisure facilities.

Michael Sagild, Le M¨¦ridien¡¯s regional managing director, Asia Pacific, said ¡°We are delighted to be expanding our partnership with Shanghai Shimao Group with this second project in China. Le M¨¦ridien She Shan will complement Le Royal M¨¦ridien Shanghai with these two properties enjoying fantastic ¡°hub & spoke¡± synergies under common branding and ownership¡±.

¡°Le M¨¦ridien She Shan, set in the heart of the pristine National Tourist Resort, will set the new benchmark for destination convention and leisure hotels in China. With its distinct design, elegant and contemporary interior and the latest technology, the hotel will no doubt welcome many prestigious functions and events following its opening in 2005.¡± Mr. Sagild added.

Shanghai Shimao Group is one of Asia Pacific¡¯s leading real estate developers. It currently has five major projects under development in China and is primarily focused on the high-end residential and retail market sectors. This is Shimao¡¯s second major hotel project in China.