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 Mövenpick Hotels & Resorts Signs Agreement with IFA Hotels
& Resorts to Introduce a Branded Hotel Residence in Dubai
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December 21, 2005 - Mövenpick Hotels & Resorts has signed an agreement with IFA Hotels & Resorts to introduce a 5 star branded hotel residence in Dubai, U.A.E. It is the first independent hotel investment project in the Middle East. The Mövenpick Hotel & Residence Laguna Tower Dubai is scheduled to open in 2008 and offers a total of 120 Hotel rooms as well as additional 296 suites and apartments.

IFA Hotels & Resorts, a subsidiary of International Financial Advisors in Kuwait, has pioneered the innovative property investment concept which guarantees individual owners a minimum return and substantial potential for capital growth. The concept of the residence hotel project enables investors to purchase a fully fitted, fully furnished room or apartment which will yield a guaranteed return of 8% in the first three years and may be used free of charge for 30 days in the year. Following the three year guaranteed return, individual investors will receive an annual profit share equal to 50 % of the room revenue.

The 40 storey Mövenpick Hotel & Residence Laguna Tower Dubai, offers both 296 private suites and apartments and 120 comfortable hotel rooms with lake and sea views, in prime Jumeirah location. True to Mövenpicks’ world class hospitality brand, the hotel will have a business centre, state of the art meeting facilities, fitness centre, swimming pool and whirlpool, a multi-storey car park as well as a variety of retail boutiques and trademark Mövenpick cuisine served in variety of themed restaurants.

"The introduction of the branded hotel residence ownership program confirms our commitment to offering world class resort developments for different segments of the international market. Our continued strategy of forging strong alliances with world-class partners is seen in our strategic alliance with Mövenpick Hotels & Resorts, to ensure that we continue to bring the highest levels of hospitality standards to the industry", said Werner Burger, President & COO, IFA Hotels & Resorts.

"The venture with IFA Hotels & Resorts is an honour for us and offers great potential for the future", says Andreas Mattmüller, Senior Vice President Middle East Mövenpick Hotels & Resorts. "The Mövenpick Hotel & Residence Laguna Tower will be the eighth Mövenpick Hotel within Dubai, and here too, we will guarantee our guests and investment partners 5-star service and the highest standards of quality renowned by Mövenpick Hotels & Resorts worldwide."

Mövenpick Hotels & Resorts currently enjoys international representation with 75 hotels existing and under construction. MH&R manages two hotel types, the business and conference hotels and the holiday resorts. The business hotels are located near cities or airports and cater for the needs of business travellers. Holiday resorts are located in ideal leisure destinations. The Hotel Group is currently represented in the following 19 countries: Germany, Switzerland, France, Italy, the Netherlands, the Czech Republic, Turkey, Jordan, Egypt, Qatar, Morocco, Tunisia, Saudi Arabia, Kuwait, Bahrain, the United Arab Emirates, Lebanon, Tanzania and on Mauritius.

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Contact:

Alain Gozzer
Public Relations Manager
 Mövenpick Hotels & Resorts Management AG
Zürichstrasse 106
CH-8134 Adliswil
Phone +41 44 712 25 51
Fax +41 44 771 17 11
E-Mail alain.gozzer@moevenpick.com
www.moevenpick-hotels.com

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Also See: Movenpick Hotels & Resorts Working on 20 New Hotel Projects, Currently Has 53 hotels in 19 Countries / October 2005

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