Aldar Properties signs exclusive strategic alliance with Mövenpick Hotels & Resorts

The management contract for the first project was also signed at the ceremony, which was held in Abu Dhabi between Ronald Barrott, CEO of ALDAR Properties and Andreas Mattmuller, Senior Vice President - Middle East and Asia, Mövenpick Hotels & Resorts Management FZ-LLC.

The first hotel in this agreement will be a 500-room luxury establishment, located in the heart of YAS Island with close proximity to the island's world-class theme parks including the Ferrari Theme Park, and the Warner Brothers Theme Park. The hotel is due to open in 2010. The other two hotels specified in the overall development contract are currently in the planning stages.

"Aldar is looking forward to a long and successful relationship with Mövenpick Hotels & Resorts. This partnership highlights and builds upon Aldar Hotels and Hospitality's growing involvement with international brands. Partnering internationally recognised hospitality brands and exceptional locations is a strategy which Aldar believes will help position its developments, Abu Dhabi, and the UAE as world-class destinations,"

commented Ronald Barrott, CEO of Aldar Properties.

"This agreement with Aldar Hotels and Hospitality is a great opportunity for Mövenpick Hotels & Resorts to establish itself in the emirate of Abu Dhabi. The hotel planned for YAS Island will be in a prime location for entertainment, shopping, and relaxation and is an excellent way to begin this long-term partnership," stated Andreas Mattmuller, Senior Vice President - Middle East and Asia, Mövenpick Hotels & Resorts Management FZ-LLC.

Aldar Hotels and Hospitality's strategy is to partner with hotel brands which have a reputation for delivering exceptional quality along with strong local and feeder market awareness and Mövenpick Hotels & Resorts certainly falls into that category. Allied with some of the best locations in the region on Aldar's developments, we believe that the partnership with Mövenpick Hotels & Resorts will deliver superb new hotels to Abu Dhabi and builds on our recent announcements of similar partnerships with Oberoi Hotels & Resorts and ACCOR SA," said Paul Bell, Managing Director of Aldar Hotels and Hospitality.

Mövenpick Hotels & Resorts operates 17 properties throughout the Middle East and over 80 globally.

Aldar Hotels and Hospitality is poised to play a major role in the development of Abu Dhabi's hotel and hospitality sector. It identifies related opportunities both within Aldar developments and elsewhere and determines the best fit brands, partners and business models.