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        	  Hong Kong-based Palmerston Hotels & Resorts signed a management 
			  contract earlier this year for the development and future 
			  operations of the Palmerston Club & Residences in Budapest. 
			  The Palmerston Club & Residences concept comprises 
			  a private members club, club suites and private residences. 
						Function and meeting rooms, 
						restaurant, members bar 
			  and lounge, club terrace and a state of the art fitness center 
			  including a hydro spa will all be available for the exclusive use 
			  of members and residents. The Club will 
			  		  also feature a traditional Butler service for guests. 
						The 
			  Palmerston Club & Residences, Budapest is located on the Buda 
			  hills, commanding views of the city, close to the 
			  diplomatic area and only a 15 minutes drive to downtown Budapest. 
			  The Palmerston Club & Residences is due to open in late 2010 and 
			  will be the first in a long series of properties to roll-out 
			  throughout major European cities and Asia. 
						Palmerston 
			  Hotels & Resorts, a corporate affiliate of CCA International, 
						plans to have 25 hotels by 2015.  
						With Headquarters based in Hong Kong and 
			  Regional Offices in the UK and Europe, Palmerston specialises in 
			  turn-key development and management of luxury boutique hotels and 
			  integrated resorts combining hotel, spa, golf and real estate.   
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