Movenpick Hotels & Resorts has signed an agreement with…
Movenpick Hotels & Resorts has signed an agreement withIFA Hotels & Resorts to introduce a 5 star branded hotel residence in Dubai, U.A.E. It is the first independent hotel investment project in the Middle East. The Movenpick Hotel & Residence Laguna Tower Dubai is scheduled to open in 2008 and offers a total of 120 Hotel rooms as well as additional 296 suites and apartments.
IFA Hotels & Resorts, a subsidiary of International Financial Advisors in Kuwait, has pioneered the innovative property investment concept which guarantees individual owners a minimum return and substantial potential for capital growth. The concept of the residence hotel project enables investors to purchase a fully fitted, fully furnished room or apartment which will yield a guaranteed return of 8% in the first three years and may be used free of charge for 30 days in the year. Following the three year guaranteed return, individual investors will receive an annual profit share equal to 50 % of the room revenue.
The introduction of the branded hotel residence ownership program confirms our commitment to offering world class resort developments for different segments of the international market. Our continued strategy of forging strong alliances with world-class partners is seen in our strategic alliance with Movenpick Hotels & Resorts, to ensure that we continue to bring the highest levels of hospitality standards to the industry, said Werner Burger, President & COO, IFA Hotels & Resorts.
The venture with IFA Hotels & Resorts is an honour for us and offers great potential for the future, says Andreas Mattmuller, Senior Vice President Middle East Movenpick Hotels & Resorts. The Movenpick Hotel & Residence Laguna Tower will be the eighth Movenpick Hotel within Dubai, and here too, we will guarantee our guests and investment partners 5-star service and the highest standards of quality renowned by Movenpick Hotels & Resorts worldwide.
A high resolution pictures about the project can be downloaded with the following link: http://cumu04.ncag.ch/moevenpick_download/agozzer/2205.zip
Movenpick Hotels & Resorts currently enjoys international representation with 75 hotels existing and under construction. MH&R manages two hotel types, the business and conference hotels and the holiday resorts. The business hotels are located near cities or airports and cater for the needs of business travellers. Holiday resorts are located in ideal leisure destinations. The Hotel Group is currently represented in the following 19 countries: Germany, Switzerland, France, Italy, the Netherlands, the Czech Republic, Turkey, Jordan, Egypt, Qatar, Morocco, Tunisia, Saudi Arabia, Kuwait, Bahrain, the United Arab Emirates, Lebanon, Tanzania and on Mauritius.
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