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New hotels for Rotana, and SHUAA.
Thursday, 3rd February 2011
Source : HVS International
Abu Dhabi-based Rotana has announced six new hotels for the UAE in 2011.

This will bring its portfolio to 33 properties in the country. Selim El Zyr, president and chief executive officer of Rotana, commented, "The last few months have seen the hospitality industry in the Middle East and Africa registering positive growth. We see that momentum being sustained as general business conditions improve across the board."

Elsewhere in the Middle East, SHUAA Capital Saudi Arabia has signed an agreement (on behalf of SHUAA Saudi Hospitality Fund I) with Abdulla Fouad Holding Company to develop a Rayhaan by Rotana hotel in Dammam, in the Kingdom of Saudi Arabia.

The 240-room hotel is the third project announced by SHUAA Saudi Hospitality Fund I in Saudi Arabia to be managed by Rotana. The others are a five-star Rayhaan hotel and a four-star budget hotel, both in Jeddah.

www.hvs.com

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