In managing the hotels we have acquired, IHI has entered into management agreements with C.H.I, which provides international management and marketing services to our hotels under the Corinthia brand. The management and incentive fees payable to C.H.I. under these agreements are based on international terms and conditions. Primarily, they comprise a percentage of turnover and operating profits, in some cases only if certain thresholds and targets are achieved, thus aligning the interests of C.H.I. to that of IHI in maximising returns from our operations.

In supervising C.H.I's management of our properties and protecting IHI's interests as owners of the hotels, we have appointed a supervisory body, which reports directly to IHI's board. This group of experts is solely focused on securing IHI's interests as owners of the hotels, acting as a watchdog over C.H.I ensuring that our properties are operated as efficiently as possible.