Investments to build new Algerian hotels
The deputy general manager of Algerian "Siyaha" (tourism) company, Mohammad Maghribi, said that construction works of eight hotels in six provinces scheduled to start before December 2005 by a total investment of AD20 billion (some $273 million), the July 13 edition of Al-Khabar newspaper reported.
"Siyaha" is a new joint stock company owned by Mahri Gorup (50%) and by the international group of "Accor"(50%). The company held its foundation assembly some 15 days ago.
Siyaha will start in construction of two hotels in the city of Constantine in December 2005 to be open to the public in the first quarter of 2008. One of these two hotels will include 180 rooms, and the other under the brand of "Novotel" will include 160 rooms. These hotels are meant to serve business people. Prices are expected to range between AD4,500 and AD5,500 for night in the first hotel, and between AD7,000 to AD8,500 in Novotel.
There is another program to establish a third hotel in Ayn al-Bay near the university. Programs to construct hotels in the Algerian capital, in Wahran, Setif and Annaba are still under the stage of study.