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Corinthia
Hotels - Experience the Warmth, Colour,
and Vitality
CORINTHIA HOTELS
INTERNATIONAL TO OPERATE THE FIRST WYNDHAM
HOTEL IN MOROCCO FOR 'ESSENTIAL
DEVELOPMENTS'
26th
November 2007 - Malta-based hotel
operators Corinthia Hotels International
(CHI) and Essential Developments, a
development company based in the Isle of
Man, announced the signing of a technical
assistance agreement and a 15-year hotel
management agreement of the new 'Wyndham
Port Lixus Resort' - a Euro 58.4 million
(approximately 86.77 million US dollars)
upscale hotel project to be built by
Essential Developments on the northern
Atlantic coast of Morocco. The resort
location is adjacent to the city of
Larache and a convenient 40 minutes south
of Tangier International
Airport.
CHI will
be giving its technical assistance and
advice in the planning and design of the
'Wyndham Port Lixus Resort' and
will take on the full management of the
hotel on completion. The hotel will
include a state of the art Spa, three
restaurants, four bars that include a
health bar and a Tapas bar, and extensive
landscape and water features within its
7-hectare site.
The
418-room hotel project falls within phase
one of the Moroccan Government backed
'Vision 2010' plan of turning the 470
hectare historical Port Lixus area into an
upscale tourist resort, complete with two
18-hole golf courses, a 700-berth marina,
a 120-berth pleasure port with shopping
and residential 'Water Homes', extensive
sporting and leisure facilities and
upscale international hotels. Development
of the planned resort will be in the hands
of Salixus, a Belgian consortium
development company led by Thomas &
Piron.
"Both CHI
and Wyndham are delighted to be involved
in this very exciting new project. We have
recognised Morocco to be a priority for
expanding our African presence and
building on CHI's already excellent
management reputation and standing in
Libya and Tunisia. We are also honoured to
be contributing to Morocco's Vision 2010
programme and are confident that the
resort hotel will be a resounding
success", stated Tony Potter, Corinthia
Hotels International's Chief Executive
Officer.
Construction
work on the 'Wyndham Port Lixus Resort' is
scheduled to commence in April of 2008,
with the hotel set to open its doors in
June 2010.
About Corinthia
Hotels International (CHI)
CHI is a
hotel operating company that is a joint
venture between Malta based International
Hotel Investments plc (IHI) and Wyndham
Hotel Group of the US. It undertakes hotel
management operations for Corinthia Group
and IHI owned or affiliated hotels as also
for third party owners. CHI is also the
exclusive hotel management company for
Wyndham Hotel Group managed hotels in the
EMEA region operating under the Corinthia,
Ramada Plaza and Wyndham categories. CHI
has accumulated over 40 years of
experience in delivering a high quality
service to hotel guests and an optimum
rate of return for owners and investors in
diverse business environments. Its
expertise extends to management of luxury
and upscale properties in city and resort
locations, and products ranging from
boutique to large conference and meeting
hotels. Corinthia this year features among
the top 50 hotel groups in Europe, as
reviewed by Hotel Management
International, an official publication of
the European Hotel Managers Association.
For further information on Corinthia
Hotels please visit
www.corinthiahotels.com
About Wyndham
Hotels and Resorts
Wyndham
Hotels and Resorts, a subsidiary of
Wyndham Worldwide Corporation (NYSE:WYN),
offers upscale hotel and resort
accommodations throughout the United
States, Canada, Europe, Mexico and the
Caribbean. For more information, visit
www.wyndham.com
About Essential
Developments
Essential
Developments, a development company based
in the Isle of Man have commercialised the
'Wyndham Resort &endash; Port Lixus' hotel
project as a purpose-built investment fund
in the United Kingdom. The Morocco Plan
Azur Fund enables investors to participate
in the Port Lixus resort, one of six
Government-sponsored Vision 2010 new
generation coastal resorts located in
previously under developed areas. The fund
offers excellent growth potential with an
indicative rate of return of 15% per
annum. For more information, visit
www.essentialinvestments.co.uk
Issued by
the sales & marketing department of
Corinthia Hotels on Friday 23rd November
2007.
CONTACT:
MANUEL BRIFFA
Phone:
+356 2551 1146
Fax:
+356 21 239732
Mobile:+356
9943 2252
e-mail:mbriffa@corinthia.com
Editorial
contact in US:
The
Bradford Group
Karen
Hoffman
Tel: (212)
447 0027
Fax: (212)
725 8253
Email:
bradfordmktg@aol.com
Head
Office, Europa Centre, Floriana VLT 15,
Malta. Tel: +356 21223399; Fax: +356
21239732; e-mail: chi@corinthia.com;
Website: www.corinthiahotels.com
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