Action Hotels PLC Action Hotels Announces Partner for Hotel
September 07 2015 - 2:00AM
RNS Non-Regulatory
TIDMAHCG
Action Hotels PLC
07 September 2015
RNS Reach
Action Hotels plc
("Action Hotels")
Action Hotels announces Accor's Mercure as its partner for new
hotel in Riyadh
Action Hotels, the leading owner, developer and asset manager of
branded three and four star hotels in the Middle East and
Australia, is pleased to confirm Accor's Mercure brand as its
partner for its new hotel in Riyadh, Saudi Arabia, which was
announced on 23 April 2015.
The 130 room leasehold hotel, which will be a three star
offering, is the first time Action Hotels has partnered with the
Mercure brand. Mercure, one of Accor's mid-scale brand offerings,
comprises over 750 3-star and 4-star hotels located in 51
countries.
Mercure Riyadh Olaya is being converted from an existing office
building in the highly sought-after Olaya district. The hotel is
situated in a prime location on Olaya Street, at the centre of the
city's commercial and leisure districts in Riyadh. The hotel is
expected to open in Q4 2016.
Mercure Riyadh Olaya will be one of two Action Hotels properties
in Saudi Arabia and the Company's first in Riyadh. As previously
announced, the Mercure Riyadh Olaya is in addition to the pipeline
of hotels announced at the time of IPO and will increase Action
Hotel's aggregate room count to 2,893. The partnership with Mercure
takes Action Hotels' and Accor's number of hotel partnerships to 10
(six operational and four in the pipeline).
Christophe Landais, Chief Operating Officer of Accor Hotels
Middle East, said: "We are delighted with this signing as we
consolidate further our collaboration with our trusted partner,
Action Hotels, to mutually expand our respective portfolios and
bring more international quality hotels to Saudi Arabia. This
mid-scale property when complete will help cater to the fast
growing demand in the Kingdom for hotels in this segment."
Sheikh Mubarak A.M. Al-Sabah, Chairman, Action Hotels said: "We
are pleased to yet again partner with Accor Hotels on the
development of this great addition to our hotel portfolio. With the
right brand partnership, the hotel is expected to be well received
in Riyadh. Accor Hotels is a strong hotel operator in Saudi and
Mercure is well recognised in the mid-market hotel segment. We look
forward to working with Accor as we continue to grow our portfolio
of economy and mid-market hotels across the Middle East and
Australia."
For more information contact:
Action Hotels PLC
Tel: +44 (0) 20 7907 9663
Alain Debare, Chief Executive Officer
Katie Shelton, Director of Corporate Affairs
Investec Bank plc (NOMAD & Broker)
Tel: +44 (0) 20 7597 4000
Chris Treneman / David Anderson / Josh Levy
Camarco (Press enquiries)
Tel: +44 (0) 20 3757 4980
Billy Clegg/ Jennifer Renwick/ Tom Huddart
Notes to Editors
Action Hotels PLC Action Hotels is a leading owner, developer
and asset manager of branded three and four star hotels in the
Middle East and Australia. Established in 2005, Action Hotels
currently operates 9 hotels with 1,561 rooms, including the
recently announced acquisition of ibis Budget Melbourne Airport,
across the Middle East and Australia, with further properties in
development in both regions. More information is available at
http://www.actionhotels.com/
This information is provided by RNS
The company news service from the London Stock Exchange
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