Katara Hospitality signs project pact with Maldivian ministry

Qatar-owned Katara Hospitality will develop a hospitality or real estate project at a prime location in Maldives based on an agreement it signed with the island nation’s Ministry of Tourism here yesterday. Under the MoU signed between Ahmed Adeeb Abdul Gafoor, Maldivian Minister for Tourism, Arts and Culture and Sheikh Nawaf bin Jassim bin Jabor al-Thani, Katara Hospitality chairman, the Maldives government will provide three premium locations to Katara to choose the spot where it wishes to develop a hospitality or real estate project.“All these locations are within 20 to 30 minutes speed boat ride from Male’s international airport,” Katara Hospitality said.  The Qatari–Maldivian tie up follows the agreement between the governments of the two countries to strengthen bilateral ties and deepen their economic relationships.“Katara Hospitality is a reputed investor and we are confident that their presence in Maldives will definitely mark a milestone for the raising the profile of tourism in the country,” Gafoor said following the event at The Ritz Carlton.  “The paradise islands of Maldives have always been a strategic destination on the map of our global expansion and we welcome this opportunity for advancing our presence in South Asia”, Sheikh Nawaf said. The Maldivian economy has enjoyed robust growth averaging close to 8% per annum during the last decade because of the success and continued expansion of its tourism industry. An archipelago of 1100 palm fringed coral islands grouped into 26 atolls located off India’s southern tip, the country’s pristine beaches, exquisite ecosystem and mild tropical climate make the islands a major touristism destination. Doha-based Katara Hospitality currently owns six internationally branded properties in Qatar- Sharq Village & Spa, The Ritz-Carlton Doha, Sheraton Doha Resort & Convention Hotel, Doha Marriott Hotel, Mövenpick Hotel Doha and Somerset West Bay Doha. The domestic portfolio also includes two hotels under the umbrella of the home-grown Merweb brand- Merwebhotel Al Sadd Doha and Merwebhotel City Centre Doha, which is scheduled to open in 2013. In addition, it also owns and manages the Sealine Beach Resort, one of Qatar’s favourite vacation spots. Katara Hospitality’s international portfolio currently includes the Raffles Hotel Singapore, Le Royal Monceau – Raffles Paris, Schweizerhof Hotel Bern and Renaissance Sharm El Sheikh Golden View Beach Resort in Egypt. International properties under development include Bürgenstock Resort Lake Lucerne (opening 2015), Royal Savoy Lausanne (2014), Gallia Hotel Milan (2013), The Peninsula Hotel Paris (2013), a luxury boutique hotel in Paris (2013), Comoros Beach Resort (2015), Tazi Palace Hotel Tangier (2015) and a hospitality complex in Gambia (2016). Page 6