Rotana to invest $750 million

Rotana Hotels Management Corp., Abu Dhabi, United Arab Emirates, is planning on investing US$750 to fuel an expansion of its portfolio in the Middle East.

The hotel management group will open 7 new hotels in 2012 including its first properties in Bahrain & Jordan and its second hotel in Qatar and will expand its portfolio in the United Arab Emirates with four additional hotels.

The expansion plans will see Rotana managing around 14,000 rooms across its properties by the end of 2012, and Rotana also expects a 6% occupancy rate growth next year across its portfolio of hotels in the region when compared to 2011’s figures.

“The last year has seen the hospitality industry in the Middle East and Africa registering positive growth, despite several challenging economic and political factors,” said Selim El Zyr, Rotana’s president and CEO. “We expect that as general business conditions improve in these countries and indeed right across the Middle East and Africa, so will the opportunities for hospitality, and Rotana is adding several new destinations to our offerings in Jordan, Oman and Bahrain.”