RNS Number:0875R
Gresham Hotel Group Plc
20 October 2003

                            GRESHAM HOTEL GROUP PLC

                         Statement re Media Speculation


The Board of Gresham Hotel Group plc ("Gresham" or the "Company") confirms that
it is not in discussion with any party in connection with a proposed offer for
the Company.

The Board confirms that it received an approach on behalf of a consortium of
investors, which was conditional on the support of the Red Sea Hotel Group at a
price below that which was reported in an article in the Sunday Times on 19th
October 2003.

Given the condition attaching to the approach, the Board directed the consortium
to the Red Sea Hotel Group.  The Board notes the announcement made by the Board
of Red Sea Hotel Group this morning which states that they are not in discussion
with any party with respect to their shareholding in Gresham Hotel Group plc.

A holder of 1% or more of the shares of Gresham may have disclosure obligations
under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2001,
effective from the date of this announcement.



Enquiries:


Mr. Mon O'Driscoll     Managing Director, AIB Corporate Finance         Tel: + 353 1 667 0233

Mr. Patrick Coyle      Chief Executive, Gresham Hotel Group plc         Tel: + 353 1 817 6209




AIB Corporate Finance Limited, which is regulated in Ireland by the Irish
Financial Services Regulatory Authority under the Investment Intermediaries Act
1995, is acting for Gresham and for no one else in relation to the matters
described in this announcement and will not be responsible to anyone other than
Gresham for providing the protections afforded to clients of AIB Corporate
Finance Limited or for providing advice in relation to the matters described in
this announcement.



This announcement does not constitute an offer or an invitation to purchase any
securities.



The Directors of Gresham accept responsibility for all the information contained
in this announcement.  To the best of the knowledge and belief of the Directors
of Gresham (who have each taken all reasonable care to ensure that such is the
case), the information contained in this announcement is in accordance with the
facts and does not contain anything likely to affect the import of such
information.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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