IFA Hotels & Resorts (IFA HR) has celebrated the official opening of its first hotel project in Lebanon - Four Seasons Hotel Beirut, in which the company is a major shareholder. |
The ceremony was attended by Lebanese President - Michel Suleiman, the President of the National Assembly (speaker of the legislature) - Nabih Berri, the President of Council of Ministers - Saad Al Hariri, as well as the Chairman of Kingdom Hotel Investments - HRH Prince Al Waleed Bin Talal, in addition to the ministers and members in the Diplomatic Corp in Lebanon.
Talal Jassim Al-Bahar, Vice Chairman and CEO, IFA HR stated: "We are delighted to be adding yet another five-star hotel and an exceptional operator to our portfolio. This is our second investment in Lebanon, following our branded residential resort - Alabadiyah Hills - in Bhamdoun."
Set in a sail-capped tower on the corniche in central Beirut, and directly opposite the new Solidere marina facilities, Four Seasons Hotel Beirut offers 230 guest rooms including 60 spacious suites with interior design by Pierre-Yves Rochon. Large windows and private terraces offer panoramas of the Mediterranean Sea and its stunning rugged coastline. Featuring an 750 square-metre ballroom, restaurants, library bar, roof-top pool, and a health and beauty spa, the hotel is set to become one of Beirut's finest venues for high-end events and celebrations.
Controlling interest in the hotel is held by IFA Hotels & Resorts long-standing strategic partner Kingdom Hotel Investments (KHI). Other shareholders include Mohammed Abdel Mohsen Al-Kharafi & Sons Group, as well as Mr. Mohammed Abdel- Rahman Al Bahar and Mr. Sami Musaad Al Saif.
Sarmad Zok, Chief Executive Officer of KHI said: "Beirut is a particularly exciting market for us and we're happy to be strengthening our alliance with IFA HR in the region. Lebanon, and Beirut in particular, has enjoyed resurgence in luxury travel and we expect the Four Seasons Hotel Beirut to quickly become the market leader."
IFA HR is a leader in real estate development, specialising in premium mixed-use hotel and tourism resort projects. The company offers a variety of products across an array of asset classes from exclusive branded residential, resort and hotel properties in exotic locations to sound appreciating investment opportunities including hotel condominiums, vacation clubs and private residence clubs. IFA HR currently has 46 projects and is present in 13 countries across four continents. IFA Hotels & Resorts has recently announced the pre-launch of phase two of its residential resort Alabadiyah Hills.
The overall Alabadiyah Hills resort is a 7.5-hectare project of high-end residential villas, townhouses, apartments and superb leisure facilities. The Kempinski Residences Alabadiyah Hills comprise seven, four- to five-story buildings reflecting traditional Lebanese architecture. The two- three-, and four-bedroom apartments offer superior finish and fittings combined with the uncompromising management and service of Kempinski Hotels, Europe's oldest luxury hotel group.
Al-Bahar concluded: "We have every expectation that the Four Seasons Hotel Beirut will perform well and generate positive returns on our investment. The Lebanese market has grown steadily in the last two years and we believe this trend will continue. It is a market in which we see a great deal of potential and a country in which we will explore further investment opportunities. The opening is a significant milestone in our ongoing relationship with Kingdom Hotel Investments and we look forward to working with them on new projects in the future."