Ramzi
24-02-08, 05:19 PM
MUSCAT -- Underlining Oman's growing tourism-related investment appeal, a deal has been signed for the establishment of a new luxury hotel property in the Qurum area of Muscat Governorate. Swiss-Belhotel Internati-onal, a rapidly growing international manager of hotels, resorts and serviced residences in Asia Pacific and the Middle East, will develop the property, following an agreement with the Dubai-based investment firm HBG Holdings Ltd.
Proposed to be called Swiss-Belhotel Al Qurum, the new property will be constructed on a plot close to Al Harthy Complex and The Sultan Center, which along with other existing and upcoming landmarks in the area, will form part of an upscale shopping and leisure corridor envisaged in the Qurum District. For Hong Kong-based Swiss-Belhotel, the project underscores the Sultanate's burgeoning appeal as a destination for tourist and business travel. "Oman continues to be a favourite destination for Gulf travellers.
There is also increased potential for dual destination travel for return visitors to Dubai, who would appreciate the contrast of the bustling, gleaming city with destinations such as Muscat, or Sohar, which are rich in natural beauty and heritage," Edgar Solenthaler, Vice- President -- Operations & Development The Middle East, Swiss-Belhotel International Middle East, told the Observer. Swiss-Belhotel Al Qurum is a multi-purpose hotel complex comprising two towers.
Tower 1 features a 179-room 4-star hotel, six food and beverage outlets, business centre, extensive conference and meetings facilities, while Tower 2 features 120 (one, two and three bedroom) residential apartments, 3 floors of commercial office space, spa and health club facilities including treatment rooms, indoor swimming pool, squash courts and gymnasium.
In addition, the twin tower complex is connected by a footbridge on the top floor and shares common facilities on the lower ground and mezzanine floors including a bowling alley, entertainment complex (including electronic state-of-the-art games and cinema), fast-food outlets, retail precinct, outdoor swimming pool and expansive landscaped gardens. According to Solenthaler, the property will be contemporary in design with distinctive Omani touches. The multi-function nature of the property lends itself to both leisure and corporate guests, he said. HBG Holdings (HBG), which is investing in the property, has a subscriber base that includes the region's leading private and institutional investors.
"HBG pursues a niche investment strategy focused on acquiring controlling interest in companies that provide significant opportunity for operational enhancement, financial restructuring and regional expansion. Its value creation model is unique in that it requires significant post acquisition operational involvement from the firm's management," the company said. The Group has successfully held stakes in various assets and is forming a real estate fund in Oman to develop projects focusing on the hospitality and tourism sectors.
The Qurum project, due to be launched in 2010, represents a significant enhancement of Swiss-Belhotel's presence in the Sultanate. Last January, the former Sohar Beach Hotel opened its doors as the rebranded 'Sohar Beach by Swiss-Belhotel', marking the launch of the Hong Kong-based chain's operations in the Sultanate. Swiss-Belhotel International manages 36 hotels and projects, with more than 6,000 rooms globally. Hotels are located in China, Vietnam, Philippines, Malaysia, Indonesia, Kuwait and Oman. The group also has hotels under construction in the Middle East region including Doha, Saudi Arabia, Sharjah and Dubai.
http://www.zawya.com/Story.cfm/sidZAWYA20080224043548/secIndustries/pagTravel%20&%20Tourism
Proposed to be called Swiss-Belhotel Al Qurum, the new property will be constructed on a plot close to Al Harthy Complex and The Sultan Center, which along with other existing and upcoming landmarks in the area, will form part of an upscale shopping and leisure corridor envisaged in the Qurum District. For Hong Kong-based Swiss-Belhotel, the project underscores the Sultanate's burgeoning appeal as a destination for tourist and business travel. "Oman continues to be a favourite destination for Gulf travellers.
There is also increased potential for dual destination travel for return visitors to Dubai, who would appreciate the contrast of the bustling, gleaming city with destinations such as Muscat, or Sohar, which are rich in natural beauty and heritage," Edgar Solenthaler, Vice- President -- Operations & Development The Middle East, Swiss-Belhotel International Middle East, told the Observer. Swiss-Belhotel Al Qurum is a multi-purpose hotel complex comprising two towers.
Tower 1 features a 179-room 4-star hotel, six food and beverage outlets, business centre, extensive conference and meetings facilities, while Tower 2 features 120 (one, two and three bedroom) residential apartments, 3 floors of commercial office space, spa and health club facilities including treatment rooms, indoor swimming pool, squash courts and gymnasium.
In addition, the twin tower complex is connected by a footbridge on the top floor and shares common facilities on the lower ground and mezzanine floors including a bowling alley, entertainment complex (including electronic state-of-the-art games and cinema), fast-food outlets, retail precinct, outdoor swimming pool and expansive landscaped gardens. According to Solenthaler, the property will be contemporary in design with distinctive Omani touches. The multi-function nature of the property lends itself to both leisure and corporate guests, he said. HBG Holdings (HBG), which is investing in the property, has a subscriber base that includes the region's leading private and institutional investors.
"HBG pursues a niche investment strategy focused on acquiring controlling interest in companies that provide significant opportunity for operational enhancement, financial restructuring and regional expansion. Its value creation model is unique in that it requires significant post acquisition operational involvement from the firm's management," the company said. The Group has successfully held stakes in various assets and is forming a real estate fund in Oman to develop projects focusing on the hospitality and tourism sectors.
The Qurum project, due to be launched in 2010, represents a significant enhancement of Swiss-Belhotel's presence in the Sultanate. Last January, the former Sohar Beach Hotel opened its doors as the rebranded 'Sohar Beach by Swiss-Belhotel', marking the launch of the Hong Kong-based chain's operations in the Sultanate. Swiss-Belhotel International manages 36 hotels and projects, with more than 6,000 rooms globally. Hotels are located in China, Vietnam, Philippines, Malaysia, Indonesia, Kuwait and Oman. The group also has hotels under construction in the Middle East region including Doha, Saudi Arabia, Sharjah and Dubai.
http://www.zawya.com/Story.cfm/sidZAWYA20080224043548/secIndustries/pagTravel%20&%20Tourism