The investments were made by Dubai International Capital through its subsidiary Ishraq which is an experienced developer and operator of Holiday Inn Express hotels across the GCC, focusing on price-conscious business and leisure travellers.
Located along the commercially important Exhibition Road, the 274 room hotel is close to Bahrain International Airport as well as the King Fahd Causeway, Bahrain Financial Harbour, key diplomatic facilities and shopping centres.
Maissan Jalal Al Maskati, Chairman of Ishraq Gulf Real Estate Holding and Managing Director of Dubai International Capital, commented on the investment opportunity presented by the Bahraini tourism sector and the launch of the Holiday Inn Express hotel in the Kingdom.
“Bahrain has been and continues to be an attractive tourism and hospitality market. In fact, our decision to make such a substantial investment was driven by our long term confidence in the market’s historically healthy occupancy levels and hotel rates, coupled by a sophisticated consumer base that demands a high quality limited service product. Further to the launch of four Holiday Inn Express hotels in Dubai, we are now delighted to be here and to have chosen Bahrain to launch our fifth and newest location. We look forward to building on this success and continuing to evaluate new investment opportunities in Bahrain in the future.”
“It is very encouraging that the Holiday Inn Express has opened up in Bahrain and we welcome them to the Kingdom. This represents a significant investment and is an indication of the faith in the strong fundamentals and growth prospects of the Kingdom,” Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Economic Development Board (EDB), said.
“This type of limited service hotel is a reflection of the increasingly cost conscious business and leisure traveller, and it is important that Bahrain is able to maintain a strong offering for the increasing number of people who travel to Bahrain for work and as a holiday destination.”