Iran News ...


8/17/05

InterContinental Considers Building Hotels in Iran

Tehran, 14 August 2005 (CHN) - Officials of InterContinental Hotels will soon travel to Iran to hold talks with Iranian officials in charge to build hotels in Mashhad, Isfahan, Kish, and Bandar Abbas.

InterContinental Hotels Group is planning to invest in Iran's tourism sector, considering both purchasing and constructing hotels in different cities of the country.

Like many foreign investors, InterContinental awaited the presidential campaigns and election to be completed, and now that all is finished and the country is resuming its daily life, its officials will come to Iran.

Chris Moloney, the chief operating officer for the Middle East & Africa division of InterContinental Hotels Group, believes that Iran provides great investment opportunities and it is best to start investments in the country before other foreign competitors make strong appearances there.

The Group has targeted four major cities of Mashhad, Isfahan, Kish, and Bandar Abbas for construction of new hotels. The preliminary studies concerning the investment and the hotel capacities are according to Moloney complete and the final decision rests on the results of face to face negotiations to be held in Tehran.

Naser Khalil Zadeh, one of the directors of Tose-e Gardeshgari (Tourism Development) Company, which will be in charge of talks with InterContinental, told CHN that the two sides have talked on the phone and communicated in writing, but the final decision rests for the upcoming meeting.

Capital Tehran is another city under consideration by InterContinental officials for purchase of existing hotels.

InterContinental Hotels Group is a leading global hospitality group, with more than 3,500 hotels and 534,000 guest rooms across nearly 100 countries. Every year more than 120 million people stay with InterContinental.

... Payvand News - 8/17/05 ... --



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