DCH RE AND IMTC-MEI SIGN MEMORANDUM OF COOPERATION IN KHARKIV HOSPITALITY INDUSTRY DEVELOPMENT

<P>On March 18, 2009, DCH Real Estate Director Nadezhda Lysenko and European Projects Director of the American company IMTC-MEI Sean Regan signed a memorandum of cooperation in Kharkiv hospitality industry development. This took place within the framework of the official visit of Trade and Investment Mission of the US embassy in Ukraine, at the Kharkiv office of DCH Group (Metallist Sports Complex, 65 Plekhanovskaya St.).</P> <P>As a signatory of the Memorandum, IMTC-MEI represented the international hotel chain Wyndham Hotel Group International (CIS Director – David Horn, a delegation member) comprising&nbsp; 3,700 hotels in 30 countries. Therefore, this agreement will provide a strong impetus for hospitality industry development in Kharkiv in the near future.</P> <P>According to Sean Reagan, "Kharkiv’s market is potentially interesting for one of the world’s leading hotel operators. We are glad to have such a powerful and influential partner as DCH Group. IMTC-MEI sees opportunities to properly structure the hotel project and the readiness of international financial structures to participate in it."</P> <P>Nadezhda Lysenko: "Kharkiv’s hospitality industry needs substantial investments, which is becoming especially obvious as we are preparing the city for Euro 2012. DCH Group is ready to invest in the relevant projects. However, the prerequisites for our participation include cooperation with professional hotel operators and readiness of international financial institutions to co-fund such projects. We are aware of IMTC-MEI potential and believe that our cooperation will be successful and fruitful."</P>