Home / Press & Media / Investor News / Prince Alwaleed & Vice President of Ghana Inaugurates Mövenpick Hotel, Accra

Prince Alwaleed & Vice President of Ghana Inaugurates Mövenpick Hotel, Accra

December 4, 2011

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) in the presence of HE Mr. John Dramani Mahama, Vice President of the Republic of Ghana, inaugurated the $120 million Mövenpick Ambassador Hotel in Accra. The event was attended by HH Princess Ameerah Al-Taweel, Vice Chairwoman of Alwaleed Bin Talal Foundation that is chaired by Prince Alwaleed and Mr. Sarmad Zok, Chairman and CEO of Kingdom Hotel Investments (KHI) wholly owned by KHC. The hotel is considered a national and historic landmark and features 61 Executive Club rooms with their exclusive dedicated 24-hour club lounge, 15 junior suites and a palatial 350 square metre presidential suite, all overlooking the pool and gardens. KHC owns a 33.3% stake in Mövenpick Hotels and Resorts that manages the Mövenpick Ambassador Hotel.

In addition to KHC’s current holding of Mövenpick Hotels and Resorts, KHC has ownership interest in 7 Mövenpick operating hotels through KHI including El Gouna; Bur Dubai & Residences, Dubai, UAE, Mövenpick Mauritius, South West Coast, Mauritius, Karon Beach Resort, Phuket, Thailand, Mövenpick Beirut, Beirut, Lebanon and El Qusair, Red Sea Coast, Egypt, and Mövenpick Ramallah Hotel in Palestine.

KHI, headquartered in Dubai (UAE), is the leading international hotel and resort acquisition and development company focused on high growth emerging markets such as the Middle East, Asia, and Africa. The company has ownership interests in 24 properties in 17 countries, including 22 operating hotels and resorts, and two hotels and resorts currently under construction.

Mövenpick Hotels & Resorts, an upscale hotel management company with over 12,000 employees, is represented through over 90 hotels existing or under construction in 26 countries with a concentration on its core markets in Europe, Africa, the Middle East and Asia. The international hotel group with roots in Switzerland is expanding and has a stated objective of increasing its hotel portfolio (existing and under construction) to 100 in the near future. With two hotel types, business and conference hotels, as well as holiday resorts, Mövenpick Hotels & Resorts has clearly positioned itself in the upscale segment and stands for quality, reliability and care with a personal touch. The hotel group is 66.7% owned by Mövenpick.

Also Prince Alwaleed and Princess Ameerah were warmly received by HE John Atta-Mills, the President of the Republic of Ghana at the Castle Osu. HRH and HH were accompanied by a delegation from KHC, Alwaleed Bin Talal Foundation and the Private office.

The President and Prince Alwaleed discussed general economic and social issues in addition to focusing on humanitarian issues. The President commended Prince Alwaleed on his global investments and Alwaleed Bin Talal Foundation on their efforts and support to Ghana. Moreover, during the trip, HRH was awarded the Key to the City of Accra by Mr. Alfred Vanderpuye, the Mayor of the City of Accra at the Greater Accra Metropolitan Accra Assembly. Furthermore, Prince Alwaleed toured and inspected his investments through KHC in Ghana and inspected his humanitarian projects through Alwaleed Bin Talal Foundation.

In 2006, His Highness was awarded the highest honorary medal in the country, “Companion of the Order of the Volta” during an official ceremony of investiture attended by prominent state dignitaries. In addition, in 2004 HRH was conferred the Honorary Doctorate from the University for Development Studies (UDS) in Tamale, Ghana for His Highness’s global investments and humanitarian efforts. Also in 2003 the Prince was awarded, by the King of Ashanti tribe with the diploma, with the rank of “Citizen of Honor of the Kingdom of Ashanti”.