Quotes: US 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.


 






  MENA News Headlines
 Jul 22 2014 - Jihadists organise tours in their Syria, Iraq 'caliphate'AFP
(MENAFN - AFP) Known for kidnapping, public stonings, lashings and executions, the Islamic State (IS) is now expanding into tourism, taking jihadists on honeymoon and civilians to visit other parts ...

 Jul 22 2014 - UN in Syria vaccination drive against polioAFP
(MENAFN - AFP) The United Nations called for help Tuesday to vaccinate 765,000 young Syrian children against polio in a bid to prevent a resurgence of the crippling disease across the restive Middle ...

 Jul 22 2014 - Syria war causes $21.4 bn losses to oil industryAFP
(MENAFN - AFP) Syria's oil and gas industries have suffered total losses of $21.4 billion since the outbreak of the country's war three years ago, Oil Minister Suleiman Abbas said Tuesday. "The ...

 Jul 22 2014 - Five lose Kuwaiti citizenshipArab Times
(MENAFN - Arab Times) WAIT CITY July 21 (Agencies): Kuwait on Monday revoked the citizenship of the owner of a pro-opposition television station and a newspaper along with several other people in an ...

 Jul 22 2014 - Bahrain to cut hotels rates by 20 percentMENAFN
(MENAFN) The Ministry of Culture has launched a promotional program that is agreed upon from four and five-star hotels across Bahrain and will see them slash prices by 20 percent for citizens and ...

 Jul 22 2014 - Saudi Mobily profit falls 18.6 percent in Q2MENAFN
(MENAFN) Etihad Etisalat (Mobily), Saudi Arabia's No.2 telecom operator, dropped by 18.6 percent in net profit in the second quarter, matching analysts' forecasts, according to Arabian Business.The ...

 Jul 22 2014 - UAE's Sobha Group eyes USD4b for projectMENAFN
(MENAFN) UAE-based Indian developer Sobha Group is negotiating with major local and international banks to secure financing for its USD4 billion Sobha Hartland development in Dubai"s Mohammad Bin ...

 Jul 22 2014 - Marines sailors partner with task force in GabonMENAFN Press
(MENAFN Press) STUTTGART Germany July 22 2014/African Press Organization (APO)/ -- Marines and sailors from Special-Purpose Marine Air-Ground Task Force Africa 14 completed a partnership exercise in ...

 Jul 22 2014 - Abu Dhabi Airport builds facilities to increase passengersMENAFN
(MENAFN) As part of Abu Dhabi International Airport's plan to reach a record high in numbers of passengers, it has added a number of new facilities to its operations, according to Arabian ...

 Jul 22 2014 - UAE's Sheffield builds tallest tower in DubaiMENAFN
(MENAFN) UAE-based Sheffield Holdings Limited will build the second tallest tower in the UAE, and is now 80 percent completed, according to Arabian Business.The new tower, Marina 101, extends over ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help