Wednesday, October 10, 2007
Rotana Hotels to develop $55 mn. property in Erbil
Kurdistan
(PUKmedia news) - Abu Dhabi-based Rotana Hotels said on Tuesday it would develop a $55 million five-star property in Erbil in Iraq’s Kurdish region, which has largely been spared the violence affecting the rest of the country. Rotana, which has 25 hotels across the Middle East, will compete for a growing hospitality business with the Erbil International Hotel; the city's only other five-star property, where a standard twin room costs around $300 a night.
"This is part of our strategic aim to have a property located in every key city in the Middle East," Selim el-Zyr, president of Rotana, said in a statement. The semi-autonomous Kurdish Regional Government is trying to encourage investors to develop Erbil's hotel infrastructure and turn the city into an entry point to Iraq for foreign businesses.
The ministry of tourism last month said three or four times the current numbers of hotels were needed. The city's international airport handled about 170,000 passengers in 2006 and the regional government is building a new airport to handle 1.5 million, according to the London-based Kurdistan Development Corporation.
Austrian Airlines became the first European carrier to resume scheduled flights to Iraq last year when it began twice-weekly services to Erbil from Vienna. Rotana's 205 room Erbil property, scheduled to open in 2009, is owned by Lebanese holding company Malia although potential investors are ‘still welcome’ according to president Jacques Sarraf.
"This is part of our strategic aim to have a property located in every key city in the Middle East," Selim el-Zyr, president of Rotana, said in a statement. The semi-autonomous Kurdish Regional Government is trying to encourage investors to develop Erbil's hotel infrastructure and turn the city into an entry point to Iraq for foreign businesses.
The ministry of tourism last month said three or four times the current numbers of hotels were needed. The city's international airport handled about 170,000 passengers in 2006 and the regional government is building a new airport to handle 1.5 million, according to the London-based Kurdistan Development Corporation.
Austrian Airlines became the first European carrier to resume scheduled flights to Iraq last year when it began twice-weekly services to Erbil from Vienna. Rotana's 205 room Erbil property, scheduled to open in 2009, is owned by Lebanese holding company Malia although potential investors are ‘still welcome’ according to president Jacques Sarraf.
Labels: Erbil, Jacques Sarraf, Kurdistan Development Corporation, Malia, Rotana Hotels, Selim el-Zyr
Thursday, September 20, 2007
Malia Holding and Rotana Hotels announce $55 mn. hotel deal in Erbil
Business
(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."
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."
Labels: Erbil, hotel, Hotel Line, Malia Holding, Rotana Hotels
