Topic: Invest Hotels: Moroccan hotel project
Qatar firm to invest $55m in Moroccan hotel project
Qatar National Hotels Company (QNH) said on Tuesday it was investing $55m in converting a former palace into a luxury hotel in Morocco.
It said it has signed an investment agreement with the government of Morocco for the revamp of Tazi Palace in Tangier.
QNH will spend $55m to convert the former palace into a five star hotel consisting of 120 rooms, two VIP villas and one Royal villa.
It will also include a spa, a fitness centre and a business centre, in addition to conference and banqueting facilities.
The project is expected to cover a total area of 36,000 sq m which includes gardens, an outdoor pool and a golf course.
The project is forecast to generate more than 200 jobs for local workers, QNH said in a statement.
"Our investment in rehabilitating the Tazi Palace in Tangier aligns with QNH's strategic plans for international expansion, being our second venture in North Africa," said says Hamad Abdulla Al Mulla, CEO of QNH.
He added that QNH aimed to make Tazi Palace "one of the gems in our portfolio of luxury hotels".
Source: http://www.arabianbusiness.com/qatar-fi … 28232.html
