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Bena Properties, Member of Cham Holding, Signs Agreement with Accor Group
to Manage Two Hotels at Taj Halab Development in Syria

Middle East and North Africa Business Report, Amman, JordanMcClatchy-Tribune Regional News

July 04, 2010--Bena Properties, the real estate development and investment arm of Cham Holding and the largest Syrian private real estate company, signed today a management agreement with Accor Group. The agreement appoints Accor Group to manage two hotels at Bena Properties' mixed-used development, Taj Halab.

Accor Group enters the Syrian market for the first time with two of its hotel brands. Featuring 129 and 150 keys, the four-star Novotel hotel and three-star ibis hotel will create a new addition to Aleppo's as well as the national hospitality scene.

Commenting on the agreement, Accor Middle East Managing Director Christophe Landais said: "The signature of Novotel & ibis Aleppo today, our first Accor hotels, is only the beginning of what I am confident to be a fruitful and long-term collaboration with Bena Properties & Cham Holding. Our first entry into Syria's promising travel and tourism market reinforces our commitment to the Middle East market which plays a vital and robust role in Accor's global expansion plans. This agreement with Cham Holding and Bena Properties allows us to contribute to Syria's local economy by driving growth in the tourism sector."

Mr. Hawazen Esber, CEO of Bena Properties, said: "At Bena Properties, we plan developments that create a difference and offer added values to the local hospitality sector. We found in Accor Group a perfect choice that adds variety to Aleppo's hotel industry needs, and comes in line with our vision for Taj Halab to provide a destination that meets and exceeds expectations of visitors coming for leisure, tourism or business. This is the latest addition to our hospitality portfolio, our first hotel in Damascus is already under construction and we will soon announce our resort development in Lattakia."

With total build-up area of 200,000 square meters, Taj Halab features seven historical buildings dating back to 1920 which will be restored and used as a boutique hotel. It will also offer a shopping mall, in-door and out-door restaurants as well as a conference centre and an open-air plaza for exhibitions and events. Taj Halab will be completed in 2014s.

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Copyright (c) 2010, Middle East and North Africa Business Report, Amman, Jordan

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