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Prince Alwaleed Visits Mövenpick El Gouna Hotel

October 30, 2010

HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), visited the Mövenpick Resort & Spa El Gouna hotel in Egypt. The Prince and the accompanying delegation from KHC were warmly greeted by the senior management at the hotel. During the 5 day’s visit HRH and his entourage were able to enjoy the hotel’s facilities and made several outings to El Gouna and the neighboring destinations.

The Mövenpick Resort & Spa El Gouna opened in January 1996. Kingdom Hotel Investments (KHI), a subsidiary of KHC acquired its interest in the hotel in 2002. The luxury Mediterranean style resort hotel is located directly on the Red Sea coastline in the El Gouna resort. Amenities and facilities include 554 rooms, restaurants, conference facilities, three swimming pools, a spa and fitness centre, tennis courts, a diving and water sports centre, a beauty centre and a shopping arcade. The resort extends over a spectacular landscape area of 200,000 sq. meters.

KHC’s current holding of Mövenpick Hotels and Resorts is 33.3% and has ownership interest in 7 Mövenpick operating hotels through KHI including El Gouna; Bur Dubai & Residences, Dubai, UAE, Royal Palm Hotel, Tanzania, Mövenpick Mauritius, South West Coast, Mauritius, Karon Beach Resort, Phuket, Thailand, Mövenpick Beirut, Beirut, Lebanon and El Qusair, Red Sea Coast, Egypt, and currently under construction Mövenpick Ambassador, Accra, Ghana.

Mövenpick Hotels & Resorts, an upscale hotel management company with over 12,000 employees, is represented through over 90 hotels existing or under construction in 27 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 by the year end 2010. 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 owned by Mövenpick Holding (66.7%) and the Kingdom Group (33.3%).