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MOSINTOUR AND CARLSON HOSPITALITY GROUP ANNOUNCE JOINT VENTURE; MOSCOW HOTELS, TOURISM INDUSTRY RESTRUCTURED

 MOSINTOUR AND CARLSON HOSPITALITY GROUP ANNOUNCE JOINT VENTURE;
 MOSCOW HOTELS, TOURISM INDUSTRY RESTRUCTURED
 MOSCOW, Oct. 15 /PRNewswire/ -- Juergen Bartels, president of Carlson Hospitality Group, Inc., and Nikolay Shevelkin, president of Mosintour, today announced a major restructuring of the tourism and hospitality industry in Moscow which annually serves more than 7,000,000 international visitors. The agreement provides for a dramatic infusion of American hospitality and travel industry expertise into Moscow by Radisson Hotels International, a Carlson subsidiary.
 The estimated value of the hotel properties involved in the deal is $1 billion. Approximately 9,000 guest rooms in Moscow are managed by or entrusted to Mosintour.
 According to today's announcement, Radisson Hotels International, whose pioneering Radisson Slavjanskaya Hotel and Business Center in Moscow first introduced the American hotel industry to Russia, will begin overseeing operations of many of the venerable former state-owned hotels in the Russian capital. However, existing international hotel ownership and operating agreements in Moscow will not be affected by today's announcement, according to Mosintour officials.
 The historic agreement, which also calls for the launch of a new worldwide tourism, promotion and marketing program for Moscow, was initiated by Moscow Mayor Yuri Luzhkov and Carlson Companies founder and chairman Curtis L. Carlson. Carlson Companies, Inc., is one of America's largest privately owned corporations with 1991 revenues of $9.3 billion and 98,000 employees. Mosintour is a Russian public stock company created after the dissolution of the Soviet Union and is responsible for all hotels run by the Moscow city government.
 Luzhkov called the agreement, "a major step forward in strengthening the hotel industry and related services in Moscow which are vital to the growth of tourism and business travel." Last year, nearly 2,000,000 foreign business executives and government officials traveled to Moscow.
 "As we rebuild our economy, the city of Moscow is destined to become a major world center for commerce and the city's many historic attractions make it an important tourist destination," said Luzhkov. "The worldwide hospitality and travel expertise of Carlson Companies and Radisson Hotels International make them an ideal partner to join with Mosintour and the city of Moscow as we begin this new era of progress," he added.
 The agreement calls for the creation of a new company composed of Carlson Hospitality Group and Mosintour which will have far reaching responsibilities and authority for revamping and improving the travel and hotel services offered in the city of Moscow and, eventually, all of Russia. The new venture is called Carlson-Mosintour Management Company Ltd. and will be responsible for renovating, repositioning and overseeing operations of approximately 13 of the former state-owned hotels of Moscow. Several of the hotels operated by the new company will become Radisson Hotels when they are renovated to western quality standards.
 Contracts and agreements with other international hotel management companies will also be sought out by the new joint venture, according to Carlson and Mosintour officials.
 Carlson-Mosintour Management LTD will provide development, management and marketing executives to staff a headquarters office in Moscow to work with Russian partners on the day-to-day activities of the company. It will also be responsible for creating a network of travel companies for the promotion of tourism in Russia and create a unified marketing program for Russia. These efforts will include Carlson Travel Network, a sister company of Radisson within Carlson Companies, Inc., which includes 2,178 travel agency locations worldwide. This part of the venture will focus on the development of wholesale tour operations, car rentals, retail travel agencies and bus tours.
 "The agreement with Carlson Hospitality Group, Inc., and Radisson Hotels International fits strategically within the Mosintour's long-term program of improving hospitality services in Moscow," Shevelkin said. "The most important goal of Mosintour is to facilitate development of international quality tourism and travel services. The marketing and management experience of our American partners combined with Mosintour's facilities and resources ensure the success of this historic joint venture," he added.
 "Building on the foundation of success achieved by the historic Radisson Hotel project in Moscow, we are very pleased to join with the city of Moscow on this new and very important venture," Bartels said. "As operators of the first American-managed hotel in Russia, we have gained a wealth of expertise which we will put to work for the benefit of this new company," he added.
 The 430-room Radisson Slavjanskaya Hotel located within the inner Moscow circle at the Kiev Railway station pioneered American-style "Yes I Can" hospitality services for the first time in Russia and has been highly successful, enjoying occupancy rates near maximum capacity since it opened. Radisson Hotels International currently includes over 320 locations around the world and is in the midst of a sweeping global expansion program adding one new location approximately every 10 days.
 Mosintour is a major Moscow-based joint stock company founded in February 1992 with invested capital of 40 million rubles by 24 Russian organizations, including the city of Moscow, Russian Joint Stock Company for International Tourism, Intourbank and others. Mosintour manages, operates, or is entrusted with 13 of Moscow's best hotels, including the Radisson Slavjanskaya, Metropol, Cosmos and Olympic-Penta. Mosintour also owns and operates travel agencies, factories, farms and other facilities.
 -0- 10/15/92
 /NOTE: In the United States, Radisson President John Norlander will be available for telephone and in-person interviews on Thursday, Oct. 15. Call 612-540-5626 to schedule an appointment/
 /CONTACT: Kim Getto of The PBN Co., 7-095-941-8489 (Moscow); or Thomas Polski of Carlson Hospitality, 612-540-5616/ CO: Carlson Hospitality; Radisson Hotels International; Mosintour ST: Minnesota IN: LEI SU: JVN


KH -- MN007 -- 0359 10/15/92 11:08 EDT
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