$35 million Marriott hotel to be built in Aqaba
Jordan's Business Tourism Company (BTC) announced November 20, it will sign a management contract with Marriott International next week to construct a five-star hotel on the northern shore of Aqaba.
The company, a tourism investment firm and an offshoot of Arab International Hotel Co. LTD (AIHC), has finalized negotiations with the Washington-based company to construct the $35 million Marriott Hotel. “We need to upgrade the hotel stock in Aqaba,” said BTC's managing director, Bassam Maayeh.
Construction of the hotel, which will boast 250 rooms, is expected to commence next year and is scheduled for completion in three years.
BTC, founded in 1995, is a major investor in Marriott hotels in Aqaba, Petra and the Dead Sea. The latter, according to Maayeh, is nearing completion and will start courting tourists in late spring. Maayeh explained that last year, BTC took over the Petra Plaza Hotel, and that it will soon be branded as Marriott hotel.
Capitalized at 20 million Jordanian dinars, the company wants to market Jordan as an exclusive destination by creating and developing projects to encourage tourists to extend their stay in the country.
“The length of stay is more important than the quantity of tourists,” he said. “But most tourists stay for a maximum of four days due to the lack of tourist facilities. That is why investments should focus on developing the infrastructures and facilities that allow for tourists to extend their stay.”
Meanwhile, Maayeh added that the AIHC's meeting of shareholders has approved in principle, to merge with Al-Dawlyah Investments, a move that will raise the company's authorized capital to nearly JD16 million. The merger will increase AIHC's competitiveness and allow for the expansion of activities.
Maayeh said AIHC, the holding company of the Amman Marriott, will increase its subscribed capital by a number of shares to then be distributed to Al Dawlyah Investments shareholders. — ( Jordan Times )
By Suha Ma'ayeh
© 2000 Mena Report (www.menareport.com)