Thursday, September 20, 2007


Malia Holding and Rotana Hotels announce $55 mn. hotel deal in Erbil

(PortAl Iraq) - Malia Holding and Rotana Hotels have announced the signing of a partnership agreement for the management of a five-star hotel with 205 rooms in Erbil. The more than $55 million hotel will be among a series of projects to be launched by Malia Holding through its tourism investment-affiliated company, Hotel Line. Malia's plans to invest in Erbil stem from the city's economic, social and political climate which make it an ideal destination for investments - particularly in tourism, according to the company announcement.
The Kurdistan area of Iraq - where Erbil is located - has gained an international reputation of being a gateway to Iraqi business, a stable and thriving area with an increasingly prosperous population of five million, according to Rotana. The region has two new international airports and a liberal investment law that attracts foreign investors.
Erbil's Rotana Hotel will be built in front of Sami Rahman park and between the convention center and Erbil Exhibition Fair. The property will feature restaurants and complete recreational areas including a health and fitness club and a swimming pool.
Malia President Jacques Jean Sarraf said: "The prospects of the Erbil project will also benefit the people of Iraq through the creation of hundreds of jobs. Malia is enthusiastic about developments in the Kurdistan and keen on taking an active role in shaping the outlook of tourism and helping rebuild a strong and solid economy in Iraq." Rotana Hotels President and CEO Selim El Zyr said: "We are confident that we will introduce a new dimension of hospitality in the country."

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