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Tuesday, November 10 - 2009

Mövenpick Hotels & Resorts closes a difficult year in a positive way and invests in the future

  • United Arab Emirates: Saturday, March 13 - 2004 at 13:17
  • PRESS RELEASE

Despite a difficult year in the tourism industry, the 2003 operating results of the Swiss hotel group Mövenpick Hotels & Resorts (MH&R) were positive at year-end.

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The EBITDA (Earnings before interest and taxes depreciation and amortisation) for the 2003 fiscal year was reported at CHF 7.8 million, and overall turnover increased by 7.4 percent to CHF 433.4 million. The sound and debt-free financial situation - an exception within the hotel industry - will provide the basis for the hotel group's accelerated growth, following three openings in 2003.

The hotel management company Mövenpick Hotels & Resorts began with the planned re-branding during the course of 2003. Further expansion was achieved and the company will grow by nearly 5000 new hotel rooms in the near future. Over the past 4 years, the number of hotel rooms has risen by 44% to a total of 9615. Together with the hotel owners, MH&R invested significant amounts in renovation work and expansion of both infrastructure and services. Mövenpick Hotels & Resorts once again received positive feedback from customer surveys and won international prizes for outstanding performance.

In 2003 MH&R took over the management of hotels in Istanbul (249 rooms), Kuwait (98 rooms) and Dubai (232 rooms). At the same time, lease and management agreements were concluded for five hotels which are scheduled to open in the near future: Dream Castle Hotel at Disneyland®
Resort Paris (400 rooms); Wasserturm, Hamburg (226 rooms); Jeddah, (210 rooms), Al Khobar (156 rooms), Madinah (1155 rooms) - all three of which are in Saudi Arabia - and Sanaa, Yemen (315 rooms). Other hotel projects are currently under construction or in development such
as Berlin (243 rooms), Rome (314 rooms), Dubai (450 rooms), Taba (432 rooms), El Alamein (259 rooms), El Obour (250 rooms), Accra (221 rooms).
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Notes and media contacts

For Further Details:

Chené Vermaak
PR & Communications
Mövenpick Hotel Bur Dubai
Tel: +971 4 336 6000
Fax: +971 4 336 6626




and Ramallah (170 rooms.) as well as Tripoli (256 rooms). A new highclass hotel with 114 rooms was opened in the Kingdom of Bahrain beginning January 2004.
Those additional 5102 rooms mean that Mövenpick Hotels & Resorts will grow in the near future by almost 53%. Hotel investors appreciate the fine reputation of the leading Swiss hotel management company which builds on the proven qualities of the Swiss hotel business and outstanding competence in the gastronomic field.

Jean Gabriel Pérès, President & CEO of MH&R explains: "Over the next two years MH&R will focus on its expansion in Europe while continuing to develop its network in the Middle East and in the Gulf Area. The outlook for 2004 is positive as more owners elect MH&R as their preferred hotel management company with numerous quality General Managers and Executives joining our ranks".


Mövenpick Hotels & Resorts is currently represented with 45 hotels in 12 countries and focuses on two types, the business and conference hotel and the holiday resort. Whilst the business hotels are located near the city centre or the airport and offer an optimum infrastructure for the business traveler, the holiday resorts are situated in outstanding destinations. The hotel group is represented in Germany, Switzerland, the Netherlands, Italy, the Czech Republic, Jordan, Egypt, Morocco, Tunisia, Lebanon, Saudi-Arabia, Qatar and the UAE.























For Further Details:

Chené Vermaak
PR & Communications
Mövenpick Hotel Bur Dubai
Tel: +971 4 336 6000
Fax: +971 4 336 6626
Chene.Vermaak@moevenpick-burdubai.com



and Ramallah (170 rooms.) as well as Tripoli (256 rooms). A new highclass hotel with 114 rooms was opened in the Kingdom of Bahrain beginning January 2004.
Those additional 5102 rooms mean that Mövenpick Hotels & Resorts will grow in the near future by almost 53%. Hotel investors appreciate the fine reputation of the leading Swiss hotel management company which builds on the proven qualities of the Swiss hotel business and outstanding competence in the gastronomic field.

Jean Gabriel Pérès, President & CEO of MH&R explains: "Over the next two years MH&R will focus on its expansion in Europe while continuing to develop its network in the Middle East and in the Gulf Area. The outlook for 2004 is positive as more owners elect MH&R as their preferred hotel management company with numerous quality General Managers and Executives joining our ranks".


Mövenpick Hotels & Resorts is currently represented with 45 hotels in 12 countries and focuses on two types, the business and conference hotel and the holiday resort. Whilst the business hotels are located near the city centre or the airport and offer an optimum infrastructure for the business traveler, the holiday resorts are situated in outstanding destinations. The hotel group is represented in Germany, Switzerland, the Netherlands, Italy, the Czech Republic, Jordan, Egypt, Morocco, Tunisia, Lebanon, Saudi-Arabia, Qatar and the UAE.























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