RNS Number:6511S
Gresham Hotel Group Plc
28 November 2003

                            GRESHAM HOTEL GROUP PLC

                       Statement Re : Gresham Carat Hotel


Gresham Hotel Group plc. ("the Company") announces that it has completed the
repurchase of The Gresham Carat Hotel ("the Hotel"), which is located in
Hamburg, Germany.

The Company originally entered into a Sale and Leaseback transaction in 1993
whereby the Hotel was sold for Euro8.5 million, with an obligation to repurchase
the Hotel after a 10 year period for the same amount.

Of the initial sales proceeds Euro3.9 million was placed on an interest bearing
deposit account, which amounted to Euro8.2 million at the expiry of the 10 year
period and was utilised to fund this obligation.


Patrick Coyle, Chief Executive, Gresham Hotel Group plc       353 1 8176209
Robert Bastow, Finance Director, Gresham Hotel Group plc      353 1 8176209
Peter Coyne, AIB Corporate Finance Limited                    353 1 6670233
Fiona Gillespie, Communications Consultant                    353  87 2502447



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