KUALA LUMPUR – Pioneering limited service hotel operator Tune Hotels.com (“Tune Hotels”) is set to increase its presence outside Malaysia through its latest tie up with Singaporean-based Plato Capital Limited (“Plato”).

The 50 / 50 held, RM100 million strategic partnership (the “Joint Venture” or the “JV”) with Plato will develop and operate Tune Hotels throughout key countries in South East Asia, Australia and the United Kingdom. The Joint Venture intends to have a portfolio of up to ten operational assets by 2013.

Plato is a publicly listed investment holding company on the Singapore Stock Exchange, with a diversified portfolio across the real estate and information technology space. The JV represents Plato’s entry into the leisure and hospitality sector, a growth area which the company is actively seeking greater exposure to.

This partnership is the latest in a chain of exciting ventures as Tune Hotels seeks to capitalize on demand for its unique service offering and expand outside the Malaysian home market. Tune Hotels has recently announced strategic partnerships with Apodis Hospitality Group for 20 hotels in India by 2012; Evolution Capital PCL, a real estate investment advisory firm listed on the Bangkok Stock Exchange for 44 hotels across Thailand, China, Bangladesh, Philippines and Indonesia and Queensway Group Limited, a UK-based private investment group for 15 hotels in Greater London.

Mark Lankester, CEO of Tune Hotels said: “We are delighted with the signing of this partnership as it further demonstrates the belief and commitment that investors have in the Tune Hotels model. Plato will benefit from a powerful brand and a model that delivers higher room occupancies, lower development costs and greater margins. We have already identified attractive properties in the areas that we intend to focus on that may be acquired by the JV and are actively exploring other opportunities. More importantly, this partnership continues the underlying focus of Tune Hotels.com and that is to provide more great value accommodation to smart travelers, emphasizing a great nights sleep and great power showers.”

Gareth Lim, Head of Investments at Plato, said: “We are excited to be part of an established brand with significant management expertise and growth potential. Tune Hotels is a proven business model and has demonstrated the mass appeal of a quality lodging product at attractive prices. The advent of low cost carriers over the past decade has led to a corresponding leap in travel and tourism and this venture allows Plato to access this burgeoning market for affordable travel and lodging. Tune Hotels is also part of the Tune Group of companies and we look forward to exploring initiatives with other affiliates in the group that can further complement our investment.

Tune Hotels launched its first property in 2007 in Kuala Lumpur, Malaysia and has since expanded its portfolio to nine hotels across Malaysia and Indonesia and has accommodated more than 500,000 guests and by June 2010 will be accommodating over 80,000 people per month. The current portfolio of hotels encompasses Kuala Lumpur, Kota Kinabalu, Kuching, KLIA-LCCT Airport, Penang, Danga Bay, Johor and Kota Damansara, Selangor in Malaysia; Kuta (Bali) and Double Six, Legian (Bali) in Indonesia and Westminster, London opening in August 2010.

All Tune Hotels feature space-efficient, streamlined rooms focusing on high-quality basics: 5-star beds and powerful hot showers. Though affordably priced, the strategically located hotels also provide housekeeping services, 24 hour security and ready access to third-party F&B and retail outlets located within the hotel. A pay-as-you-use system for energy-consuming facilities such as air-conditioning, laundered towels and other amenities allows guests to tailor their stay to their preferences whilst conserving the environment and their hard-earned cash!

Visit www.tunehotels.com for more information and bookings, or call the Tune Hotels.com Call Centre +6 (03) 7962 5888, Monday- Friday 9:00am -9:00pm (excluding public holidays).

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