Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Hotels investors target Saudi markets  Join our daily free Newsletter

MENAFN - Arab News - 07/05/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab News) Rgeting saudi and other gulf markets a number of hotel groups and investors announced projects and expansion plans during the second day of arabian travel market.the uae-based hospitality management holdings (hmh) signed a franchise agreement for a new property in riyadh."it gives us great pleasure to welcome coral riyadh al dhabab hotel into our group as we continue to pursue our strategic expansion" said laurent a. voivenel ceo of hmh after the signing ceremony.expected to open in third quarter of 2014 with 114 well-appointed rooms and suites coral riyadh al dhabab hotel is in final stages of development and joins coral riyadh suliemaniah hotel coral al khobar hotel coral jubail hotel and coral al ahsa hotel.commenting on hmh expansion in saudi voivenel said: "tourism has a huge significance for the economy in ksa being the country's second largest industry. with over 80 billion worth of investment into key infrastructure projects including airport expansion railways and roads domestic as well as international tourism is expected to benefit tremendously making it an opportune time for us to expand our presence in the market."according to latest figures riyadh's total active hotel development pipeline consists of 5804 rooms making it one of the most lucrative markets for growth in the middle east. another expansion announcement was from movenpick hotels and resorts. the group revealed its plans for a new hotel in jeddah — the 230-room movenpick hotel heraa jeddah will be the group's third property in the city.movenpick currently operates 27 hotels in the middle east out of a global portfolio of 80 and according to president and ceo jean gabriel peres is looking at the potential for additional properties in the uae to augment its portfolio of six hotels in dubai.'during the course of the next 12 months movenpick will launch seven new additions spread between europe africa the middle east and asia" he said.jamal wick shaza group's hotel operations manager said that the 203-room shaza amman will open on december 6 this year.speaking at arabian travel market he said the amman hotel would be the second shaza hotel to open after the shaza al madina in saudi arabia.'in 2015 we will open at the wave development in muscat and then the following year we will launch hotels in salalah and in central doha" he said. 'this will be followed in 2017 by a landmark property in jeddah that will be connected on three floors to the jeddah chamber of commerce building."shaza hotels is an independent five star hotel operator supported by an affiliation with kempinski and guidance hotel investment company — shaza's regional financial partner. it is also a member of the global hotel alliance.in a separate event at atm aqeel raees ceo and board member of gulf hotels said that the bahrain-based hospitality group has acquired land for the construction of a five-star 230-room hotel in business bay dubai that will open in 2017.'we are also sourcing a second site in dubai and currently considering a number of prime locations" he added.during a press conference held at atm venue united investment and sharjah chamber of commerce and industry (scci) revealed details of novotel sharjah expo a business hotel that will be opened to serve the sharjah's various sectors and participants in the expo centre's numerous events.sheikh sultan bin ahmed al-qassimi told journalists that novotel sharjah expo will open by the first quarter of 2017. it will be the official hotel of expo centre sharjah and will comprise 200 rooms.


Arab News

  MENA News Headlines
 Oct 6 2015 - IMF says Iran nuclear deal to boost Mideast economyAFP
(MENAFN - AFP) Iran's landmark nuclear deal will lift economic growth in the war-plagued Middle East next year as the rolling back of sanctions brings a rebound in oil exports, the IMF said ...

 Oct 6 2015 - Abu Dhabi s NBAD is 1 for GCC bonds DealogicEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) --- National Bank of Abu Dhabi (NBAD) the Safest Bank in Emerging Markets and the Middle East by Global Finance magazine is ...

 Oct 6 2015 - ADEC offers public school students an After School Support ProgrammeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) -- The Abu Dhabi Education Council ADEC has organised an "After School Support Programme" for students for the 2015/2016 ...

 Oct 6 2015 - Four UAE soldiers martyred in AdenEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) -- The General Command of the UAE Armed Forces has announced the death of four of its brave soldiers in Aden during their ...

 Oct 6 2015 - UAE- Ajman Ruler congratulates Egyptian PresidentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN 6th October 2015 (WAM) -- H.H. Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has sent a cable of congratulations to the ...

 Oct 6 2015 - UAE Ambassador to Bahrain attends mass weddingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) MANAMA 6th October 2015 (WAM) --- Ambassador of the United Arab Emirates to Bahrain Abdul Redha Khouri recently attended a mass wedding for 202 couples with ...

 Oct 6 2015 - Dubai repays US500 million bonds certificatesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2015 (WAM) -- The Government of Dubai acting through the Department of Finance has announced that the US$ 500 million Fixed Rate Note ...

 Oct 6 2015 - UAE- Emirates Airline offers special A380 fares to a host of destinationsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2016 (WAM) --- Travellers in the UAE gearing up for year-end trips can now enjoy special fares to a host of destinations served by the ...

 Oct 6 2015 - UAE-MENA healthcare providers to spend US2.73bn on IT products services in 2015Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai 6th October 2015 (WAM) - Healthcare providers in the Middle East and North Africa will spend US$2.73 billion on IT products and services in 2015 ...

 Oct 6 2015 - Dhahi Khalfan opens 2015 edition of Critical Communications Middle East in DubaiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai 6th October 2015 (WAM) - Lieutenant General Dhahi Khalfan Tamim Deputy Chairman of Dubai Police and General Security led the opening ceremony of the ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help