Oetker looking to invest in the Middle East
April 14- The Oetker Hotel Collection (OHC), part of a German conglomerate, is holding talks with investors in the Middle East for constructing hotel projects in the region. The group, which announced its first project in Abu Dhabi in February this year, is negotiating with at least three investors or owners for management contracts, with Dubai, Beirut, Bahrain and Doha.
"We have plans to set up about 15 hotels in the region within the next 10 years. We are negotiating with owners for management contracts, but will disclose details about the negotiations at a later stage," said Samir Daqqaq, Senior Vice-President for Development, Middle East and North Africa (MENA), OHC.
Meanwhile, the hotel in Abu Dhabi is slated to open by 2012. Also, the group is looking to invest in Saudi Arabia but nothing has been finalised in this regard. "For us, finding the right kind of owner is important," Daqqaq said.
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