Al Taameer Real Estate Investment Company opens first hotel in Beruit

Located in the central Solidere area of Beruit, the 99 room Ramada Downtown represents an $18m investment for Al Taameer.

Mr. Najeeb Al Saleh, Vice Chairman of Al Taameer Real Estate Investment Co., explained the importance of the development,

"The significance of this project by Al Taameer is two fold. Not only is it the first Al Taameer development to open its doors to customers in Lebanon, it is the first realization of the Ramada brand in the Middle East after Al Taameer's acquisition of the exclusive master franchise from Wyndham Hotel Group International in 2007. We believe customers in the Middle East will appreciate the core concept of the Ramada experience - excellent service and value for money in the moderate accommodation sector."

Opening just as Lebanon's summer season commences, Mr. Al Saleh expects that the hotel, which also contains restaurants, meeting rooms & business facilities, will attract business & leisure travelers alike.

Al Taameer also announced the acquisition of the franchise for Ramada's three star brand, Ramada Encore, a well known brand name with strong back-up support, unique design emphasising cleanliness, efficiency and consistency. The company expects to develop properties under the same brand in other markets in the near future.

In addition, Al Taameer continues search for other promising acquisition opportunities across the region, particularly those properties which are currently undergoing intensive due diligence in Morocco and Egypt.