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FINANCIAL NEWS
UAE’s Rotana inks three hotel deals
01 May 2012
(MENAFN) Abu Dhabi-based hotelier Rotana inked deals to open new hotels in Turkey, Iraq and Mauritania, as it seeks to further extend its presence across the Middle East region, Arabian Business reported.
The three different properties are now in the design phase, the company said in a statement.
The hotel group has previously slowed down construction of hotels in Syria and Egypt, following the political uprising that broke out there. CEO Selim El Zyr said that it is very difficult to predict when projects will pick up again.
He added that hotels in both Syria and Egypt have impacted the company’s profitability, but were offset by the higher performance in Dubai, Saudi Arabia, Kuwait and Qatar.
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