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1.- ABOUT US Paradores de Turismo de España is a public limited company established in 1991, with the Spanish State constituting its sole shareholder via the Directorate-General for State Assets of the Treasury Department and Public Administrations. Over the years, its experience and activities have earned it the position of an international benchmark company in the hotel sector. Its vested interest in restoring heritage, not to mention its environmental considerations, making it a unique company around the globe. Each day Paradores works tirelessly to improve its facilities, focusing, as always, on its number one priority: the customer. This way our visitors can be sure that when they stay at a Parador, our unique product and hard work are not just in the interests of advancing tourism, with guests seeing first-hand our huge commitment to upholding an immense patrimonial legacy. The 30 rooms, with which the Paradores de Turismo began when the Chain s first Parador in the Sierra de Gredos was inaugurated in 1928, have blossomed into over 10,000, and there are now a total of 94 establishments. Some 3,600 professionals work within the family of Paradores employees. The establishments have an average of 65 bedrooms, naturally lending to a more personal and quality customer service. With establishments located in all the Autonomous Communities (except for the Balearic Islands), Paradores de Turismo is the leading hotel chain in cultural and natural tourism. Furthermore, as well as occupying establishments in nine declared World Heritage Sites, over half of the Paradores in the chain are located in historical surroundings, while many others offer accommodation in the enviable surroundings of national parks and Spain s most fascinating natural havens. 1

2.- HISTORY Its origins date back to 1910, when the Spanish Government of José Canalejas decided to place the Marquis of Vega-Inclán in charge of creating a hotel infrastructure -- unheard of in the country at the time -- whose establishments would provide lodgings for visitors and travellers, while also improving Spain s image abroad. The Royal Tourism Commission was created the following year and the aforementioned Marquis of Vega-Inclán was appointed to head this up. However, it would be several more years before the emergence of the first of the establishments that would eventually come to be known as the Paradores chain. It was on 9 th October 1928 when King Alfonso XIII inaugurated the Parador de Turismo de Gredos, the pioneer in what would later become the Paradores de España chain. Following construction of the first Parador, there came a frenzied series of openings. It would not be long before Paradores emerged as a prestigious chain of tourist establishments in Spain, a public sector firm which, almost a century later, continues to set a shining example of integrity, prestige and recognition, both within Spain and abroad. Over the years, the Paradores expanded to locations across the entire country. This era was also marked by infrastructural development with the construction of roads, railways, airports and ports. Naturally, the Civil War not only brought with it stagnation, but also represented a setback for tourism. Parts of the chain s infrastructure were damaged or used as hospitals. However, after the conflict, the idea took root, gaining new momentum with restaurant offerings and the reopening of existing Paradores. The 1960s saw the period of greatest expansion, coinciding with significant tourism development in the country, with the Paradores chain doubling its number of establishments. Spain s transition to democracy spelled a change in ownership for the Directorate-General for Paradores, and above all, its relationship with the government. In the 1980s, some of the hotels belonging to the Empresa Nacional de Turismo (Entursa) chain became part of Paradores. These included such iconic establishments as the Hostal de los Reyes Católicos (Santiago de Compostela), Hostal de San Marcos (León) and Hotel La Muralla (Ceuta). With the arrival of the 1990s, Paradores experienced a major change. The public corporation Paradores de Turismo de España, S.A. was constituted on January 18, 1991. 2

3.- CORPORATE STRUCTURE The organisational structure of Paradores de Turismo de España S.A. is based on the principles of functional division of Management and Departments. President-Managing Director Ángeles Alarcó General Manager Rafael Lemes General Secretary Auxiliadora Pérez Finance Director Marta Fernández HR Director and Talent Management Regina Plañiol 4.- BUSINESS TURNOVER Operating revenues (million euros) 2008 260 2009 245 2010 242 2011 238 2012 212 2013 195 2014 212 3

OS SI5. - PARADORES IN NUMBERS Classification of establishments by stars: 5 GL 2 4* 74 3* 17 2* 1 Number of Autonomous Communities: 16 Classification of establishments by building: Castles 11 Monasteries and convents 14 Palaces 14 Historical venues 6 Regional construction 17 New builds 32 Monasteries and convents 14 SPAS 10 Restaurants 92 2014 Data Capacity offered annually: 4,068,710 Number of guests staying: 1,214,373 (66% national/36% foreign) Number of covers served: 1,885,613 Number of employees: 3,600 Amigos de Paradores: over 700,000 Followers (12/12/14) Facebook 130,689 Twitter 27,833 LinkedIn 5,930 Instagram 3,388 The 94 Paradores have the Q for Quality Tourism (ICTE) 4

6.- QUALITY AND THE ENVIRONMENT From the very outset, the main aim of Paradores de Turismo de España S.A. has been to develop a hospitality business based on quality and respect for the environment, offering products and services that meet the needs of its guests, whilst protecting and respecting our natural surroundings. As in previous years, great efforts have been put into adhering to sustainable criteria in our day-to-day work. Proof of this is that in the field of environmental and quality management, the company has once again successfully passed external audits in accordance with the second part of the Certification, in compliance with: UNE-EN ISO 14001, UNE-EN ISO 9001 and UNE 182001 (Q for Quality Tourism: ICTE - Spanish Tourist Quality Institute). This has involved continuing with certification of the entire organisation according to the benchmark standards for quality and environment management. Respect for the environment has been implemented within our organisation in the form of an environmental management system for the company s procedures, with specific principles and actions, producing highly positive outcomes. Particularly noteworthy practices include: - Internal awareness-raising campaigns and training in good environmental practices - Rational use of energy resources - Saving incentives - Integrating suppliers and subcontractors into our environmental goals - Establishing mechanisms for preventing pollution - Reducing the environmental impact of our activity - Adhering to standards for environmental management systems, according to ISO-14001 - Recycling and reducing waste - Selective collection and management of waste through authorised companies - Establishing annual environmental goals and targets in order to continuously improve our environmental performance 5

7.- PARADORES FOR EVERYONE Paradores de Turismo aspires tirelessly to offer products that meet the individual needs of its customers. The Chain has developed its Universal Accessibility Plan and has opened up its gastronomic offer to cater for customers with special requirements: tailor-made menus for children, vegetarians, diabetics and celiacs. Likewise, the division of the chain continues to constitute a useful tool for guests, who can also take advantage of special deals and the Amigos de Paradores loyalty club, which year on year welcomes ever more people: over 700,000 Amigos at the last count. 8.- ESENTIA, NATURIA AND CIVIA: THREE DESTINATIONS, ONE ORIGIN Paradores looks to the future and goes that extra mile when adapting to new market trends, endeavouring to uphold its mark of identity as the most prestigious and recognisable hotel tradition in Spain. Paradores integrates perfectly with its surroundings, takes advantage of its enormous heritage and experience, which spans back over decades. This is why it has reorganised the hotel chain, placing the focus firmly on the customer. After listening carefully to feedback, it has grouped its 94 establishments into three parts: Esentia for Paradores located in buildings of particular historical-monumental value; Civia, for those occupying highly-functioning historical or modern buildings either in the centre or the outskirts of towns and cities; and Naturia, for Paradores established in historical or modern buildings that are at one with their surroundings, positioned in unique spots in the mountainside/countryside or in exclusive coastal areas. 6

9.- NEW CUISINE IN PARADORES For Paradores, gastronomy is just as paramount as the quality of our hotels, and so it should be, given that 48% of the Chain s turnover stems from our restaurants. In 2014 alone around 1.9 million covers were served, a clear mark of satisfaction from customers with the Paradores restaurant service. These figures are also unique in the Spanish hotel industry as a whole. To achieve this, the company has always responded with the same philosophy: creating traditional dishes from the different regions in Spain, restoring classic recipes and bringing them into the 21 st century with quality products. In many cases, Paradores restaurants are outstanding in their regions, and many of our professional kitchen team have received awards and recognition on both a national and international scale. If anything defines the supremacy of the Paradores cuisine, it is the chain s proven search for excellence, resulting in outstanding dishes and providing a benchmark across the whole of Spain. Eating in its restaurants has always been a pleasure for the tastebuds. On its mission for perfection, the chain proposes a leap forward which would position its establishments at the very forefront of Spanish cuisine. Paradores is also set to become a source of knowledge and revelation for these culinary flavours, much to the delight of both locals and visitors. Nothing has been left to chance in this change of direction. Why choose between tradition and modernity if you can have both? This is precisely why the well-known and loved recipes of times gone by have been given a new lease of life with the very latest trends and our customer s preferences. 7

Within this spectrum, the Paradores chain has established three venue models: Tamizia, Marmitia and Especia. Tamizia restaurants have two variants: Enxebres (traditional Galician cuisine with modern presentation), and Espacios Gastronómicos, in locations that differ to the Parador restaurant and aiming to offer a more informal dining experience, with tapas, drinks and full meals. Marmitia covers regional cuisine. Here, local specialities and regional products take centre stage, providing a space where lovers of this particular heritage can indulge their senses. Especia, on the other hand, has been designed for a gourmet clientele, who seek fine dining and an exquisitely high-quality service presenting classic recipes with a modern twist. All, of course, featuring the Paradores hallmark seal. For more information contact: prensa@parador.es (+34) 91 516 67 25 8