Al Anwar Holdings and AccorHotel sign contract for Novotel Muscat in Azaiba

November 14, 2017

International hotel chain, AccorHotels, signed a management agreement with Al Anwar Holdings (AAH) for its brand new hotel Novotel Muscat in Azaiba.

The agreement was signed by Massoud al Harthy, chairman of Al Anwar Holdings, and Olivier Garent, MD and COO – Middle East and Africa, AccorHotels, at the Tulip Inn Downtown Muscat in Ruwi on Monday, under the auspices of H E Ahmed bin Nasser bin Hamad al Mehrzi, Minister of Tourism.

Located in close proximity to the Muscat International Airport, the upcoming Mall of Oman and Madinat al Irfan development, Novotel Muscat in Azaiba will provide convenient access to key business and leisure destinations in Muscat.

Harthy said, “As Oman takes great strides in economic diversification, we see a major opportunity to grow our portfolio through focus on hospitality. The location of Novotel Muscat in Azaiba on the Sultan Qaboos Street near the international convention centre, positions it as a unique offering in the market.”

He added, “Partnering with AccorHotels was a natural choice for our move into hotel development, as we aim to work with a team who has a strong track record and reputation as a leading travel and lifestyle group in the Middle East.”

Sanjay Tiwari, acting CEO, Al Anwar Holdings said, “We are pleased to inform that Al Anwar Holdings has entered into a hotel management agreement with AccorHotels for developing a four-star business hotel Novotel Muscat, with the objective of making a foray into the tourism sector in Oman. This hotel project is to be developed in Azaiba near airport. Total development cost of the project is estimated to be around RO11.5mn to be funded by an optimum mix of debt and equity.

“We have initiated the project planning and will have further updates on the status of the project. We expect the project would add significant value to AAH investment portfolio and diversify the income stream for AAH.”