"Drive for show, but
putt for dough." --
Bobby Locke

Martin Armitstead, Director, Cushman & Wakefield Hotels (incorporating RHI Hotels), joins INVgolf Investment Forum 2005 Steering Committee

FOR IMMEDIATE RELEASE

November 8, 2004 -- Martin Armitstead, Director, Cushman & Wakefield Hotels (incorporating RHI Hotels), today accepted to join the Steering Committee of the INVgolf Investment Forum 2005 as Co-Chairman. This international conference is to be held in Belek, Antalya, Turkey, April 22 & 23, 2005.

He will also chair the 'Trends in Golf Development and Resorts' session on April 22. Martin was from inception until recently on the Steering Committee of the International Hotel Investment Conference in Berlin.

Commenting on his appointment, Martin said: "As a hotel development consultant we are increasingly brought in to advise on destination and golf resort development, which represents a huge growth sector especially in emerging touristic locations."

"Very few owners/developers appreciate the need to integrate a range of facilities and to design these in an integrated and efficient way, and sadly few operators have the skills to leverage the profit potential whilst giving a seamless guest experience.

"This conference provides a unique forum for all involved -- whether owners, developers, investors, consultants, analysts, operators or suppliers -- to really explore the issues, learn and benefit from this very special forum."

Martin Armitstead joined RH International (formerly Colliers RH) in September 2002 as Director of Hotels, based in London.

Brief resume

Martin has spent his career in the hotel industry in operational, sales and marketing, strategic planning and development roles. He has extensive knowledge of the hotel development process, having worked in senior development positions for Trust House Forte, Copthorne Hotels, Conrad International Hotels and as Vice President Europe, Africa and the Middle East for Regent International Hotels when it was part of Carlson Companies Inc. His experience has been gained across the full spectrum of hotel operations - budget to luxury five star, from city centre, to urban and destination resort hotels, and he has undertaken projects and evaluations in more than 50 countries.

Prior to joining RH International, Martin undertook a number of hospitality consultancy assignments, advising the developer of a golf resort in the South of France, an American company purchasing a hotel in Spain, and a developer of two major hotels in Turkey.

Personal
Martin Armitstead graduated in Hotel and Catering Administration in 1973.

Experience
Martin has been active in the hospitality, travel and tourism arena for over 30 years and he has extensive experience in the following:

• Property acquisition and disposal

• Market and financial appraisal and feasibility studies

• Competitor and market analysis

• Space planning and concept design -- to ensure the optimum utilisation of space within existing properties and in the design and planning of new hotels and other leisure facilities

• Negotiation of joint venture agreements term sheets, management contracts, technical services agreements, leases, licences and franchise agreements

• Preparation of financial debt and equity funding for development

• Strategic planning for hotel, restaurant and retail concepts - including operational and development plans, marketing, company and unit business plans

• Hotel re-branding and market positioning

• Post investment audits

Martin Armitstead's project completion list

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