Sharaf Group announces the launch of its new venture; 'Sharaf Protea Hotels Middle East'

The new initiative comes as a result of a joint venture between 'Sharaf Group' and 'Protea Hospitality Corporation of South Africa'.

The new company will be responsible for the management of Hotels and Furnished Apartments (Non Alcoholic) of the Group, in addition to managing similar kind of developments by other investors in the region.

Sharaf Protea Hotels Middle East intends to open 20 hotels within a span of 5 years. The development of the hotels has already commenced and 'JBR Suites Hotel' in Jumeirah Beach Residence will be the first one to open. The other upcoming projects at prominent locations include properties in Discovery Gardens, Deira (Airport Rd.) and Business Bay.

'Sharaf Protea Hotels is envisioned to operate the best hotels and luxury furnished apartments in the Middle East to which Dubai will serve as the regional base,' said Mr. Ibrahim Sharaf, Chairman of Sharaf Group.

'We are known for our capacity to anticipate and identify significant global changes in hotel markets and concepts thereby creating innovative management ideas that meet and exceed customer expectations,' said Mr. Otto Stehlik, Chairman of Protea Hospitality Corporation.

'Owing to Protea Hospitality Corporation's excellence and experience in hotel management, they had to be our preferred choice for this joint venture since our target group comprise frequent travelers from around the world and Protea knows perfectly how to cater to their discerning tastes,' added Mr. Yousuf Sharaf, Managing Director of Sharaf Group and Board Member of Sharaf Protea Hotels Middle East.

Protea Hospitality Corporation is amongst Africa's leading hotel operating companies with 120 hotels in 15 countries. It has received 'Africa's Leading Hotel Brand' award from the World Travel Award and proclaimed 'Top Hotel Brand in South Africa' by the Markinor-Sunday Times Top Brands Survey 2005.

Internationally, it is ranked 21st among the world's top 100 hotel management companies by the American Hotel and Lodging Association. Started with a portfolio of four hotels in 1984, it expanded rapidly all throughout South Africa and United Kingdom.