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JJW Hotels to expand European portfolio
- Saudi Arabia: Tuesday, March 12 - 2013 at 06:10
JJW Hotels and Resorts, a subsidiary of MBI International, plans to expand its luxury hotel holdings in Portugal and elsewhere in Europe, as the region's debt crisis presents a buying opportunity for investors with cash, Bloomberg has reported. The group, which owns properties including the Grand Hotel Wien in Vienna and the Hotel Balzac in Paris, will focus on four- and five-star luxury hotels, said the chairman of MBI International, Sheikh Mohamed Bin Issa Al Jaber. "We are looking at a lot of opportunities in Europe, including in Portugal," Al Jaber told the news service. "Where there are difficulties, there will always be opportunities."
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