Rotana receives offers to manage Iraq hotels
Dubai, May 6, 2009
Rotana Hotel Management, a leading hospitality group, has received several offers to operate and manage hotels in a number of cities in Iraq, a top official has revealed.
In an interview with CNBC Arabiya, Salim Al-Zeer, executive director of Rotana Hotels announced that the Rotana Hotel development in Arbil will start receiving guests in a year from now, and will be the most prominent hotel in the Kurdistan region with 250 rooms.
Al-Zeer added that their Iraqi operations will, in three months time, extend an invitation for tenders to bid on constructing a hotel in the Khadra' area of Baghdad after finalising the design.
Al-Zeer evaluated the value of investments in Al Khadra' area between $70 million and $80 million, funded by Iraqi and foreign investors. He expected the project to be completed in two and a half years.
The executive director also noted that promising opportunities are present in Iraq in light of increased local demand on hotel rooms and increased local tourism.
He highlighted that the availability of foreign investments in Iraq is an indicator that the country is on the right economic path. – TradeArabia News Service