Mövenpick Hotels and Resorts AG
KHC investments begin: 1998
Based: Zürich, Switzerland
Awards & Medals
2010 – Lebanon’s Leading Resort to Hotel and Resort Beirut
2010 – International Golden Green Key Award to Hotel Amsterdam City Centre
2010 – Europe’s Leading City Hotel to Hotel Istanbul
2010 – 2nd place Germany’s most popular business hotel to Hotel Stuttgart Airport
Kingdom Holding Company has a substantial interest in Mövenpick Hotels and Resorts AG, an upscale Swiss hotel chain comprised mainly of five-star resorts and business hotels in cities or at airports.
KHC and Kingdom Hotel Investments (KHI) acquired an approximate 30% interest in Mövenpick in 1998 and increased it to 33.3% in 2003, with KHC holding 25.5% and KHI holding the remaining 8.8%. KHC saw the Mövenpick brand as underleveraged and believed it could be repositioned as a leading four- and five-star brand.
Mövenpick is today entering emerging Middle Eastern, African and Southeast Asian markets with support from KHC, whose minority investment affords KHC direct participation in Mövenpick’s current and future strategies. HRH Prince Alwaleed’s contacts have been key to Mövenpick’s expansion plans and led to significant revenue enhancement.
Relations between KHI and Mövenpick are cordial and deepening. 7 of 18 KHI-owned hotels are managed by Mövenpick and it is anticipated that more KHI-owned hotels will follow.
Mövenpick Hotels and Resorts traces its beginnings to 1973, when the Mövenpick Hotel Group opened hotels near Zurich Airport and in Regensdorf, Switzerland. The venture was part of the Mövenpick Group founded in 1948 by Ueli Prager. Today the company is an international upscale hotel management company with roots in Switzerland and over 90 properties operating or planned in Europe, Africa, the Middle East and Asia.
The company develops Mövenpick hotels located in city centres, suburban office areas or at airports and targeting business travelers; Mövenpick Resorts with extensive leisure amenities, spas, dining options and conference facilities; and Mövenpick Residences, apartments designed for long-staying guests, primarily in city centres and established hotel locations.
A growth rate of 8 to 10 new Mövenpick properties per year is envisioned. The company also operates a fleet of five cruise ships in Egyptian waters.