Pphe Hotel Regulatory News (PPH)

14 Dec 2007 07:00

Park Plaza Hotels Limited14 December 2007 14 December 2007 Park Plaza Hotels Limited ("Park Plaza" or "the Group") Park Plaza signs two franchise agreements Park Plaza Hotels Limited, owner and operator of 24 full-service four-stardeluxe hotels and trendy boutique hotels in Europe and the Middle East, hassigned two franchise agreements with Global V Hospitality Inc., a full servicehospitality management and consulting firm specializing in hotels, resorts, andconference centres in North America and EMEA. These hotels are located in Doha,Qatar and Marrakech, Morocco and will add an additional 281 rooms to the Group. One of Park Plaza's key objectives is to expand its hotel network. As part ofits growth strategy, earlier this year Global V Hospitality Inc. was grantedexclusive development rights, under a territorial sub-licence agreement, to usethe Group's Park Plaza brand in Morocco, Egypt and the Gulf States with a viewto developing Park Plaza hotels in these countries. Expansion of Park Plaza'sportfolio through franchise arrangements allows the Group to build its brandwith minimal capital investment and risk. The Group will receive a royalty feein respect of the two new hotels, as well as fees for services such as marketingconnected with the brands (calculated as a percentage of gross room revenues). The hotels in Qatar and Morocco will be operated by a local subsidiary of GlobalV Hospitality Inc. and are currently under construction. Boris Ivesha, President and CEO of Park Plaza Hotels Limited said: "The signing of these agreements will grow the Park Plaza portfolio in theMiddle East and North Africa and is in line with our strategy to more thandouble the number of hotel rooms in our portfolio by 2010. These agreementsdemonstrate our ambition to become a true leader in the affordable luxury marketnot only in Europe but also in dynamic business and tourism destinations furtherafield such as Doha and Marrakech." Park Plaza Doha, Qatar - opening 1 January 2008 The brand new Park Plaza Doha is conveniently located in the historic heart ofQatar's capital close to various major international offices and banks and onlya 10-minute drive from Doha International Airport. The hotel will offer 167 spacious guestrooms and suites all equipped withmini-bars, coffee & tea making facilities, wireless internet, flat screen TV andDVD players. Other facilities include a full service restaurant, lounge & bar,three flexible function rooms, several shops, executive lounge and secureunderground car parking. The rooftop terrace provides stunning views of the Persian Gulf and Doha harbourand is home to the hotel's swimming pool, health club and sauna. Park Plaza Marrakech, Morocco - opening mid 2009 The Park Plaza Marrakech will be a new built hotel located in the heart of themodern city in the Menara area close to the Palais Royal, Theatre Royal. Thehotel will offer 114 guestrooms and suites and all rooms will be fully equipped. The hotel will offer a wide array of facilities including several restaurants, apiano bar, cafeteria, health and fitness facility, swimming pool with pool bar,discotheque, bowling alley and secured car parking. www.parkplazahotels.net Enquiries: Park Plaza Hotels Tel: +44 (0)20 7034 4800Boris Ivesha/Chen Moravsky Hudson Sandler Tel: +44 (0)20 7796 4133Jessica Rouleau / Wendy Baker Notes to Editors Park Plaza is owner, operator and franchisor of hotels in Europe and the MiddleEast. The Group operates under two brands: Park Plaza Hotels & Resorts (part ofCarlson Hotels Worldwide), over which the Group has exclusive rights in 56countries in EMEA and art'otel, a brand to which the Group has exclusiveworldwide rights. Park Plaza also manages the luxury all-suite Plaza on theRiver - Club and Residence, London. There are currently 24 properties and 4,128 rooms in total in the Group'sportfolio. By 2010, the Group's committed projects and territorial franchiseagreements are expected to add a further 1,843 and 2,210 rooms respectively,bringing the total number of rooms to 8,181. Projects already under development include Park Plaza County Hall, London(February 2008), art'otel cologne and Park Plaza Westminster Bridge, London(2010). Park Plaza is dedicated to providing a highly competitive offering to hotelinvestors and operators. Through its partnership with Carlson Hotels Worldwide,Park Plaza is connected to powerful loyalty programmes such as goldpoints plussmand Look To Book(R) and a worldwide distribution network of travel agents andwebsites all capable of delivering high volumes of business to its hotels.Strong sales, marketing, IT and operations led from three regional offices inAmsterdam, Berlin and London complete the package. Global V Hospitality Inc. Global V Hospitality Inc. is a full service hospitality management andconsulting firm specializing in hotels, resorts, and conference centres in NorthAmerica and EMEA. Global V Hospitality Inc. was launched in 1987 and hasdeveloped and operated hotels and resorts in the US, Canada, Japan and EMEA. Itcurrently operates 12 hotels with a head office in Toronto and regional officesin Casablanca and Cairo. This information is provided by RNS The company news service from the London Stock Exchange