Global hotel chain plans to increase its presence in the Middle and Africa by 80% over the nest years in comparison to 2010, Gulf News reported quoting Hilton Worldwide's President for MEA, Rudi Jagersbacher. The region's beach hotels deliver 8% revenue per available room, followed by 3-4% in city centre properties, Jagersbacher said. Hilton currently has 3,600 hotels in its global portfolio, some 50 of which are in this region. The chain anticipates the opening of 230 hotels this year, of which 10-11 will be in the MEA region. |
Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more
National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more
The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more