Oakwood and DHI Downtown Celebrate Successful Completion of Management Agreement for Oakwood Premier AMTD Singapore

The five-year partnership yielded international accolades and superlative guest reviews that reflect Oakwood's hospitality excellence and spirit of innovation

SINGAPORE,May 10,2022 --Oakwood® today announced the exit of Oakwood Premier AMTD Singapore from its portfolio following the successful conclusion of a five-year management agreement with DHI Downtown Pte Ltd,an affiliate of Dorsett Hospitality International (DHI). With effect from 1 July 2022,the property will leave Oakwood's global network and commercial engines.

"Oakwood is thankful to be entrusted by DHI to manage this impressive landmark in the heart of Singapore's Central Business District. The commercial success of Oakwood Premier AMTD Singapore bears testament to the collaborative effort and synergy between our operations team and the Ownership. This is a privilege which we do not take lightly. As we approach the maturity of our five-year agreement,I would like to express our sincere appreciation for the opportunity to deliver on our mandate and achieve our aspirations together," said Dean Schreiber,chief executive officer of Oakwood.

Strategically located in the heart of Singapore's vibrant Central Business District,Oakwood Premier AMTD Singapore opened in June 2017 to critical acclaim. Designed to deliver on Oakwood Premier's brand promise of tailored luxury,the celebrated property caters to discerning travellers who seek indulgence and style in a personal sanctuary,evoking a feeling of home.

Amidst the consistent delivery of operational and service excellence,Oakwood Premier AMTD Singapore also served as the launching pad for disruptive service innovations,such as the brand's hallmark Oakwood Premier Mobile Bar concept,as well as industry-leading partnerships like the Klook x McDelivery: Happiest Night-In Staycation.

"We would like to congratulate Oakwood on the successful management of Oakwood Premier AMTD Singapore attested by the property's operational and commercial success. We extend our best wishes for Oakwood's journey towards market leadership and its global growth momentum," said Clarence Wong,chief operating officer,Southeast Asia and China,of Dorsett Hospitality International.

Oakwood was recently honoured as Asia Pacific's 'Best Serviced Residence Brand' by DestinAsian's Readers' Choice Awards 2022 with prestigious Top 10 rankings by readers of the region's leading award-winning travel magazine among 'Best Hotels' for its Oakwood Premier branded properties in national polls for Japan,Singapore and South Korea.

For more information,please visit www.oakwood.com/

About Oakwood®

Oakwood®,a wholly owned subsidiary of Mapletree Investments,is a leading brand in hospitality management. A pioneer of the extended stay segment,Oakwood manages a global portfolio of award-winning properties that combine the space and comfort of a private residence with the thoughtful services and amenities of a hotel,ideal for both short and extended stays. Through this specially crafted Oakwood experience that spans accommodation options comprising elegantly-furnished serviced apartments,residential units and hotels,guests are invited to feel a sense of belonging,familiarity and reassurance whenever they stay at any Oakwood property around the world. For more information,please visitwww.Oakwood.com.