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Kor Hotel Group Enters Joint Venture Agreement with Orascom Hotel
and Development for Two Viceroy Resorts in Switzerland and Oman
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November 1, 2007 (Los Angeles, California) – Kor Hotel Group, a growing global presence in luxury hospitality, announces plans for Viceroy Hotels and Resorts’ first-ever foray into Europe and the Middle East with Viceroy Andermatt in Switzerland and Viceroy Sifah in Oman. Kor has entered into a joint-venture term agreement with developer, Egypt-based Orascom Hotel and Development, for the development of the resorts. Kor Hotel Group will manage and operate each resort.
 
Viceroy Andermatt in Switzerland is planned as the sole luxury property within Orascom’s development, which calls for a total of six hotels, chalets, golf chalets, an 18-hole golf course, ski lifts and spa facilities, among other amenities. Viceroy, upon its completion in 2011, will command up to 175 luxury units in the planned hotel-residence development. Andermatt, Switzerland, a town located high in the Ursern Valley in Switzerland’s Gothard Alps, is 41 miles southeast of Lucerne and 87 miles from Zürich. An idyllic year-round destination, Andermatt is accessible from the Zurich or Lugano International Airports and by the Matterhorn-Gotthard-Bahn, a scenic railway which links Zermatt to Saint Moritz.
 
Viceroy Sifah in Oman, part of a major luxury resort development, will include four 5-star hotels with luxury villas, a marina, villa residences, an 18-hole golf course and clubhouse. Recreational offerings will include a sports center, equestrian center and an environmental interpretation center. Viceroy Sifah will command up to 200 luxury hotel-residence units upon its completion in 2011. Sifah, located in a dramatic mountainous setting with picturesque views of the Gulf of Oman and the Arabian Sea is located in close proximity to the capital city of Masqat and is accessible by Seeb International Airport.  
 
About Viceroy
Viceroy hotels and resorts exemplify a passion for authentic, world-class, visionary design and inventive service. From skyscraping cities to pacesetting playgrounds, every Viceroy destination re-imagines the essence of style and service and inspires discriminating guests and residents to indulge in glamour, reinterpret cultural traditions and redefine their notions of luxury. Current Viceroy properties include Viceroy Santa Monica and Viceroy Palm Springs. Under development are Viceroy Miami, Viceroy Mayakoba in the Riviera Maya on Mexico’s Caribbean coast, Viceroy Zihuatanejo, Viceroy Snowmass in Colorado, as well as Kor’s initial overseas venture, Viceroy Anguilla in the British West Indies.  The official site for the Viceroy brand is viceroyhotelsandresorts.com.  
 
About Orascom
Orascom is an Egyptian based international town developer whose core business is to develop communities centered around tourism. Existing towns like El Gouna or Taba Heights  are composed of more than 20 hotels, 3000 residential units, town centers, golfs, three marinas, schools, hospitals. Our Town projects in development are located in Oman (2 sites), Switzerland and Morocco where we are in the process of developing in the next 7 years a combined total of 18 upscale resort hotels plus the needed infrastructure around to establish towns.
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Contact:

Daniel Guerrero
Director of Public Relations
Kor Hotel Group
(323) 930-3832
daniel.guerrero@korhotelgroup.com

 

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Also See: Orascom Hotels & Developments Signs Mövenpick to Operate Luxury Hotel in Salalah in the Sultanate of Oman / May 2007
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