Fairmont Continues Its Middle East Expansion; Signs First Bahrain Hotel
Luxury resort development supports FRHI's plan to grow by 50% over the next five years |
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Fairmont Continues Its Middle East Expansion; Signs First Bahrain Hotel
Luxury resort development supports FRHI's plan to grow by 50% over the next five years |
Category: Middle East - Bahrain - Industry economy
- Hotel projects
This is a press release selected by our editorial committee and published online for free on 2015-02-12
Fairmont Hotels & Resorts, a luxury brand within the FRHI Hotels & Resorts (FRHI) portfolio, and Bahrain Real Estate Investment ("Edamah"), a wholly owned subsidiary of Bahrain Mumtalakat Holding Company ("Mumtalakat"), announced the development of a new 215-room luxury resort in Bahrain.
Slated to open in 2018, Fairmont Bahrain Resort is at the center of what will become a truly remarkable entertainment, leisure and corporate retreat on the island. This integrated destination development, the first of its kind in Bahrain, will be an ideal venue for groups, conferences, family travel and social events.
The project is being developed by Bahrain Real Estate Investment ("Edamah") and supported by Mumtalakat, Bahrain's sovereign wealth fund, which manages more than $7 billion in investments and assets, including Aluminum Bahrain ("ALBA"), Gulf Air, Bahrain International Circuit and McLaren Automotive.
The hotel is in the early stages of development in the Al Jazayer area, which is a mixed-use project comprising of a public beach, retail and restaurant outlets, hospitality components, and entertainment facilities. South of the capital of Manama, within close proximity to Bahrain International Circuit and the Saudi Arabian Causeway, and just 35 minutes from the Bahrain International Airport, the hotel is expected to be a popular destination for leisure, business, and MICE guests visiting the region.
Fairmont Bahrain Resort will feature 215 guestrooms and chalets, Fairmont Gold – the brand's signature 'hotel within a hotel' concept, and over 2,000 square meters (21,500 square feet) of meeting and event space, including a state-of-the-art ballroom. Appealing to the local market, GCC travelers and international visitors, the resort's leisure offerings will range from an expansive beachfront area including a Fairmont spa and health club to a wide variety of restaurants and lounges featuring signature dining concepts.
"Bahrain has one of the fastest growing economies in the Middle East and is a country that continues to diversify with a strong focus on residential, leisure and retail opportunities," said Jennifer Fox, president, International Division and president, Fairmont Brand, FRHI Hotels & Resorts. "With the government's plans to develop the southern area into a major residential, commercial and entertainment hub, we believe it's a very opportune time to be entering the market and look forward to being a key part of the country's future growth."
Mahmood Hashim Al Kooheji, CEO of Mumtalakat, said: "We are pleased to be partnering with Fairmont to open the first Fairmont hotel in Bahrain and to create a prime destination for both residents and visitors to Bahrain. The hotel will be developed in Al Jazayer area, one of the most beautiful beaches in the Kingdom and will contribute positively to its development into a prime touristic destination in the region. It will also create jobs and opportunities for further partnerships between the public and private sector."
The addition of Fairmont Bahrain Resort complements a growing portfolio of other Fairmont hotels currently under development in the region including Fairmont Ajman, Fairmont Riyadh, Fairmont Fujairah, Fairmont Citystars Sharm el Sheikh, Fairmont Amman and Fairmont Marina Resort, Abu Dhabi.
About Fairmont Hotels & ResortsFairmont Hotels & Resorts connects guests to the very best of its destinations worldwide, reflecting each locale's energy, culture and history. Passionate travelers choose the luxury hotel brand for its ability to deliver memorable travel experiences, personalized and thoughtful service, and hotels that are one-of-a-kind. Serving as genuine gateways to their destinations, Fairmont hotels offer locally-inspired cuisine and spirited bars and lounges, distinctive design and décor, and a steadfast responsibility to environmental and social priorities. With more than 65 hotels globally, and many more in development, landmark hotels in the Fairmont collection include The Plaza in New York, London's The Savoy, Fairmont Peace Hotel in Shanghai and Quebec City's Fairmont Le Château Frontenac. Fairmont is owned by FRHI Hotels & Resorts, a leading global hotel company with over 110 hotels under the Fairmont, Raffles, and Swissôtel brands. The company also manages Fairmont, Raffles and Swissôtel branded luxury private residence clubs, whole-ownership residences and serviced residences properties. For more information or reservations, please visit fairmont.com.
About EdamahBahrain Real Estate Investment (Edamah), a wholly-owned subsidiary of Bahrain Mumtalakat Holding Company (Mumtalakat), is a closed Bahraini Joint Stock Company, incorporated in the Kingdom of Bahrain on 28 May 2006. Edamah was established to develop and manage government properties and lands in Bahrain. Hence, it is committed to the reinvigoration of the Bahraini real estate sector and is focused on investments that aim at utilizing the Government's lands and properties in Bahrain. Edamah is currently investing in real estate projects that will benefit the commercial, tourism and hospitality sectors in Bahrain, and will ultimately result in increased economic confidence in the Kingdom.
About MumtalakatMumtalakat is an independent holding company mandated to grow the wealth of Bahrain based on sound financial and strong governance principles. Mumtalakat holds stakes in 38 commercial enterprises, with a portfolio value of approximately U.S. $7.2 billion as of June 30, 2014. Its portfolio spans a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, tourism, transportation, ICT, TMT and education. Mumtalakat holds stakes in McLaren Group Limited and McLaren Automotive; the ship and rig repair company ASRY; the workforce management services and software company PRO Unlimited; and the international education company GEMS, among other blue-chip companies based in the Middle East and around the world.
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