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MENAFN - Arab News - 12/01/2011

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Kingdom Holding Company Chairman Prince Alwaleed bin Talal with Palestine President Mahmoud Abbas during the president
(MENAFN - Arab News) Movenpick Ramallah Hotel has opened in Palestine. Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, owns a 33.3 percent stake in Mvenpick Hotels and Resorts that manages the Movenpick Ramallah Hotel.

The hotel, which consists of 171 comfortably equipped and elegantly decorated bedrooms and suites, is situated 3 km from the city shopping and entertainment amenities and provides a view of the suburbs of Jerusalem from the upper floors of the hotel.

In addition to KHC's current holding of Movenpick Hotels and Resorts, KHC has ownership interest in seven Movenpick operating hotels through Kingdom Hotel Investments (KHI) including El Gouna; Bur Dubai & Residences, Dubai, Royal Palm Hotel, Tanzania, Movenpick Mauritius, South West Coast, Mauritius; Karon Beach Resort, Phuket, Thailand; Movenpick Beirut, Beirut, Lebanon; El Qusair, Red Sea Coast, Egypt, and currently under construction Movenpick Ambassador, Accra, Ghana.

Movenpick Hotels & Resorts, an upscale hotel management company with over 12,000 employees, is represented through over 90 hotels existing or under construction in 27 countries with a concentration on its core markets in Europe, Africa, the Middle East and Asia.

The international hotel group with roots in Switzerland is expanding and has a stated objective of increasing its hotel portfolio (existing and under construction) to 100 in the near future. With two hotel types, business and conference hotels, as well as holiday resorts, Movenpick Hotels & Resorts has clearly positioned itself in the upscale segment and stands for quality, reliability and care with a personal touch. The hotel group is 66.7 percent owned by Movenpick.

 






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