Multinational powerhouse Cinnovation | CG invests in InVision Hospitality to create Zinc | InVision Hospitality

Zinc | InVision Hospitality will use new growth capital along with niche brand strategy to brand and operate 30 hotels in Asia by 2013 The launch of Zinc | InVision Hospitality was announced today. The new entity is a joint partnership between Thailand based InVision Hospitality and the Singapore based investment company Cinnovation | CG, which has holdings in excess of US$1 billion. Cinnovation | CG is part of the Nepal-based global conglomerate Chaudhary Group. Zinc | InVision Hospitality aims to open 30 hotels in Asia by 2013. The growth will be financed in part by Z-I Capital Partners, which is the investment fund set up by the current Zinc | InVision Hospitality partners and fortified by other investors. The newly formed Zinc | InVision Hospitality will incorporate the expertise of the existing 35 person InVision staff and various professionals from the Cinnovation | CG corporate structure, in addition to hiring new senior level talent to drive targeted growth. Company CEO, Kevin Beauvais, has over 30 years experience in hotel development and management, including 25 years with Marriott International, culminating as Country Manager for Thailand. He also served as COO and a Director of Minor International PCL, which owns the award-winning Four Seasons Resorts in Thailand and Anantara Resorts. Announcing the new company, Beauvais said, "The creation of Zinc | InVision Hospitality marks the arrival of a formidable hotel management company and fresh brand offerings in the Asian hotel and hospitality arena. Cinnovation | CG has the financial depth and hospitality background to support the growth while InVision has the depth of experience and hospitality know-how to execute all elements of technical, sales & marketing and operating activities. We expect phoenix-like growth in the next few years." Zinc | InVision Hospitality arrives with seven hotel and hospitality brands already developed: Zinc City, GLOW STUDIOS, Zinc Edge, Zinc Living, Zinc Journey, SOMA, and Touch by Zinc. Each one caters to a unique market segment – luxury resorts, hip business hotels, value-oriented urban travelers, long-stay and residential living, heritage travel, and spa & wellness retreats. Cinnovation | CG President, Binod Chaudhary, who is this month accompanying Beauvais on a five-city tour of Asia to launch Zinc | InVision Hospitality, said, "I am excited and extremely confident about bringing the innovative hotel brands we have created within Zinc | InVision Hospitality to the global market. We aim to succeed by anticipating social trends and the emerging demands of hotel customers and matching these with well designed hotels and well trained staff." For the value conscious urban traveler, Zinc City Greater Noida (near New Delhi) is scheduled to open in 2012. Two additional Zinc City hotels are scheduled to open in India in 2013 at Cochin and Surat. The first GLOW STUDIOS is now open in Bangkok with five more to come online in Thailand, Cambodia and India by 2012 and Nepal by 2013. Zinc Edge deluxe hotels are scheduled to open in Dubai, Nepal and Pattaya in 2013. The first SOMA resort is scheduled to open in Malaysia in 2012. Two Zinc Journey cultural heritage resorts are already open in Sigiriya and Negombo, Sri Lanka. Five more are scheduled to open by 2012 in China, Thailand and Sri Lanka. The Farm, a Touch by Zinc spa and wellness retreat, is already open in the Philippines. A second property is scheduled to open in Nepal in 2011. Zinc Living properties for long-stay travelers and residential living are scheduled for Bangkok (2011), Dubai (2012) and Pattaya (2013). "Zinc | InVision Hospitality will provide an operational/service/quality consistency in all properties, whether managed or owned," said Beauvais. "Our customer experience and brand integrity are the highest priorities." Editors: can download high resolution images of Binod Chaudhary and Kevin Beauvais at http://www.zinchospitality.com/download/ZincInVisionTeam.zip About Cinnovation | CG (www.cinnovationcg.com) Cinnovation | CG currently has 6,000 staff in 45 companies in 30 countries, including, but not limited to, business sectors such as fast moving consumer goods, finance, banking, electronics, home appliances, education, infrastructure and real estate. What started as a humble enterprise back in 1870, the Chaudhary Group global conglomerate has become arguably the largest business entity of Nepal and one of the subcontinent's most influential companies. With the passage of time, and propelled and influenced by the visionary Binod Chaudhary, members of the new generation of the Chaudhary family branched out to take the family's business interests global and thus initiated Cinnovation back in 1990. Although owned and operated by separate and independent entities as per respective law of land and without any cross-holdings, all the business entities owned, partnered and/or associated with the Chaudhary family come under the umbrella of Cinnovation | CG. The financial arm of Cinnovation | CG for collaboration in the hospitality sector, Zinc Holdings, has a capitalization in excess of US$500 million. It currently owns equity in established Asian hotel properties and brands such as TAL Hotels & Resorts, Alila Hotels & Resorts management company, Taj Safaris, Jetwing Zinc Journeys Lanka, Amaya Hospitality (USA), The Farm (Philippines), India Safari & Tours. About InVision Hospitality Founded in Thailand in May 2007 by Kevin Beauvais, InVision Hospitality is a management, consultancy and advisory services company with a fresh approach for the hospitality industry in Southeast Asia. The company's core values rest firmly on operational efficiency, long term value and profitability. Using its in-depth knowledge, strategic insight and extensive experience, InVision Hospitality helps elevate each hotel, resort and residential project to its full potential. InVision Hospitality currently manages five properties in Thailand: Zeavola Resort on Koh Phi Phi, Villa Maroc in Pranburi, Swiss Park Hotel in Bangkok, GLOW Trinity Silom in Bangkok and Northgate Ratchayothin Serviced Residence and has two hotels in Malaysia under development, SOMA Lepa Lepa and Rice Miller Hotel & Residences. Media contact Vipasiri Napawongdee, Director of PR & Marketing Communications Zinc | InVision Hospitality. Tel. + 66 2 656 0818 email: [email protected] www.zinchospitality.com

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