Coral Hotels and Resorts signs its biggest project in Morocco with YNNA Holdings

Mr Miloud Chaabi, President - YNNA Holdings said during the signing ceremony held in Marrakech.

'We are delighted to welcome Coral Hotels & Resorts and their distinctive style of hospitality in Morocco. Our aim is to offer an authentic Moroccan experience with modern facilities and luxuries that discerning travellers expect from world-class properties. Coral Mogador, Agdal - Marrakech is already operational and will redefine the luxury lifestyle experience while setting a benchmark for other such initiatives.'

Present on the occasion was also Mr Omar Chaabi, Executive Vice President and other senior members of the management from YNNA Holding - a leading player in hospitality and Real Estate in Morocco. The group has strong interests in other sectors too such as plastics, electricals, packaging, textiles, construction, public works, civil engineering, drilling agriculture and fishing industries.

Mr Michel Noblet, CEO, HMH - Hospitality Management Holdings sees a big opportunity in the country. He said, 'We believe there is an enormous potential for our brand in Morocco which is emerging as a leading touristic destination in the region. Acting as a magnet for European tourists, Morocco is set for a bright future. We are truly delighted to associate with YNNA Holdings for this spectacular project and are dedicated to providing the ultimate in hospitality.'

Coral Mogador, Agdal - Marrakech upholds Moroccan traditions in grand style and provides an experience few can rival. Brilliantly located barely two kilometers from the airport and four kilometers from the old city (Medina) this magnificent 5-star features 610 luxuriously appointed rooms and suites equipped with the finest facilities and ultimate comforts. Each of the spacious guest rooms has a private balcony offering incredible views of either the Atlas Mountains or the Agdal Gardens.

With six outstanding restaurants, Coral Mogador, Adgal also provides its guests a multitude of dining options. Featuring the most unique and versatile meeting spaces and colossal exhibition hall and ballroom, it is perfect for both lavish and simple celebrations as well as corporate events. An array of rejuvenating facilities including a splendid spa, state-of-the-art fitness centre, swimming pool, and traditional Moroccan Hammams assure guests a relaxing and enjoyable stay.'

Currently Coral has approximately 2500 rooms and is expected to add 1200 more by the end of 2009. The brand is also poised to develop other projects in North Africa. Mr Noblet said, 'We are pleased to diversify geographically and will be soon rolling a series of projects spread across the Middle East. Four new hotels are set to open in the coming six months.

As part of King Mohammed VI's $9bn Vision 2010 development plan, Morocco has been working on a plan to increase tourist arrivals to 10m a year by 2010 and has launched a number of tourism and real estate ventures. The country has so far managed to maintain economic stability in the face of global inflation with its numbers showing an amazing resilience in the context of international turmoil.