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Hilton Worldwide's property in Ras Al Khaimah

The launch of the hospitality group is an example of a government's hands-on involvement in supporting and developing
a tourism and hospitality. Ras Al Khaimah Hospitality Group has been launched will act as a management company on
behalf of government-owned hotels, hospitality, tourism and leisure assets, according to a statement issued by the
emirate's government.

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The company will manage quality and performance and will also work towards inviting more investments from premium and international brands in the emirate.

Ras Al Khaimah Hospitality Group is expected to accelerate hotel development projects with the goal of having an
inventory 10,000 hotel rooms in the emirate by 2016.

F&B will be another focus area of the newly launched company. “Launching Ras Al Khaimah Hospitality Group is an
important step in regulating the emirate’s food and beverage outlets, giving us the opportunity to review the
existing facilities as well as introduce new dining concepts. I’m delighted to say that at this stage, a number of
projects and upgrades are already fully approved,” Victor Louis, chief executive officer, Ras Al Khaimah Hospitality
Group said.

The company will also be leading the upgrade and development of different hospitality assets, some scheduled to be
completed as early as January 2012.