Rotana Hotels signs nine properties

Regional hotel chain, Rotana Hotels is spearheading its expansion plans with the signing of nine new management agreements for properties worth in excess of US $800 million.

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By  Sarah Campbell Published  February 12, 2006

Regional hotel chain, Rotana Hotels is spearheading its expansion plans with the signing of nine new management agreements for properties worth in excess of US $800 million. The January signings come on top of the 10 Rotana properties under construction, and the group’s existing collection of 21 properties already in operation, bringing Rotana Hotels’ portfolio to 40 properties by 2008. “We ended 2005 with the launch of our new brand of hotels, Centro, which is a well needed product in the Middle East and we are starting 2006 with nine additional Rotana Hotels across the Middle East bringing our portfolio to 40 properties. This expansion is taking us into new markets, such as Jordan and Bahrain, as well as increasing our portfolio in the UAE,” said Nasser Al Nowais, chairman of Rotana Hotels. The first of the new properties to open will be the BurJuman Rotana Suites in Dubai in August. BurJuman Rotana suites will comprise fully serviced, one-bedroom suites, duplex townhouses and a penthouse. Also in Dubai, Rotana Hotels will open its Media City Rotana Hotel with 467 rooms and suites in mid 2007. In Abu Dhabi, Rotana Hotels has signed a management agreement with a joint venture with the Abu Dhabi Tourism Authority and Al-Mada Tourism Investment Company LLC to build a multi-use complex Park Rotana Hotel & Suites, which will be completed by the end of 2007. The complex will include a 250-room hotel, 300 hotel apartments, office space and residential apartments. “Whilst we achieved record results in 2005, with revenues exceeding those of 2004 by 30% and an average occupancy reaching 80%, our focus on development is an ongoing process. This will enable us to maintain our competitive edge in a challenging environment. Negotiations are currently under way for properties in Cairo, Jeddah and in Riyadh,” said Selim El Zyr, president and CEO of Rotana Hotels. Rotana Hotels will also manage the Fujairah Rotana Suites, expected to open in mid 2008 with 252 rooms, a restaurant and meeting rooms. It will also feature a rooftop swimming pool and an extensive gymnasium. Further afield; the company will operate its first property in Bahrain. Expected to open mid 2008, Bahrain Rotana Hotel will have 300-rooms and suites, a number of restaurants, meeting space and leisure facilities. Following that, Jordan is Rotana Hotels’ next stop with 450-room Amman Rotana Hotel. As for the budget Centro by Rotana brand, its first property will be operational at the end of 2007 under the name Centro by Rotana, Satwa, Dubai, with 360 rooms. The second, Centro by Rotana, Al Barsha, Dubai, with 264 rooms will open mid 2008. Its third property, the Centro by Rotana Abu Dhabi, will open mid 2008 with 350 rooms.

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