16/11/2017 05:39 AST

AccorHotels, an international hotel chain, has signed a management agreement with Al Anwar Holdings SAOG for its brand new hotel - Novotel Muscat Athaiba. The agreement was signed by Masoud al Harthy, Chairman of Al Anwar Holdings SAOG, with chief executive officer of AccorHotels at the Tulip Inn (Ruwi) Hotel, under the auspices of Ahmed bin Nasser al Mehrzi, Minister of Tourism.

Located in close proximity to Muscat International Airport, the upcoming Mall of Oman and Madinat Al Irfan development, Novotel Muscat Athaiba provides convenient access to key business and leisure destinations in Muscat.

"As Oman takes great strides in economic diversification, we see a major opportunity to grow our portfolio through a focus on hospitality.

The location of Novotel Muscat Athaiba on the Sultan Qaboos Road near Oman's prestigious international convention centre positions it as a unique offering in the market," said Masoud bin Humaid al Harthy.

"Partnering with AccorHotels was a natural choice for our move into hotel development, as we aim to work with a team who has strong track record and reputation as a leading travel and lifestyle group in the Middle East," added Al Harthy.

Novotel Muscat Athaiba offers 200 spacious rooms, a fully-equipped gym, spa and swimming pool. A variety of dining options will be on offer, including a lobby lounge and all-day dining restaurant. Besides, Novotel Muscat Athaiba will have meeting rooms for medium to large scale gatherings. The Project will also offer serviced managed offices for foreign investors and travellers to work and stay together in the same place.

"The tourism sector is expected to get a shot in the arm with the opening of a state-of-the-art airport in Muscat at the beginning of next year, while new routes of Oman Air and budget carrier Salam Air will help to attract tourists from within the region and other international destinations," said Al Harthy.

The Sultanate, like other GCC states, is expanding capacity at the airports and developing infrastructure to complement the government push for boosting visitor traffic, thus providing a major incentive for increasing hotel capacities.

The new state-of-the-art terminal at the Muscat airport has a capacity to handle 12 million passengers per annum, which can be scaled up to 24 million, 36 million and 48 million in different phases if needed.

Al Harthy noted that the National Strategy for Tourism 2040 aims at making the Sultanate as one of the most important tourism destinations with a robust 6 per cent annual growth in tourism revenue, besides doubling the number of tourists to five million visitors by 2040.


Oman Daily Observer

Al Anwar to sell 9 per cent stake in Ominvest for OMR31m

13/11/2017

Al Anwar Holdings (AAH) plans to sell its 9 per cent stake in Oman International Development and Investment Company (Ominvest) to Oman National Investment Corporation for OMR31.16 million. The compan

Times of Oman

Al Anwar Holding to divest from Falcon Insurance

19/01/2017

Al Anwar Holdings SAOG (AAH), an Oman-based company listed on the Muscat Securities Market, has announced that it will be divesting part of its holding in Falcon Insurance Company SAOC.

The

Oman Daily Observer

Al Anwar net profit rises 28%

07/08/2014

Al Anwar Holding said its net profit surged ahead by 28 per cent to OMR1.59 million for the first quarter ending June, 2014.

The investment company's total income also rose 26 per cent to

Times of Oman

Ticker Price Volume
AAIC Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
BKMB 0.26 0.00 (0.00%)
NBOB 0.29 0.01 (3.57%)
ABOB 0.18 0.01 (5.88%)
BKDB 0.15 0.00 (0.00%)
OMVS 0.34 0.00 (0.00%)
Doha Bank announces exclusive benefits for NRIs on Visa Platinum Debit Card

10/03/2025

Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit

The Peninsula

Saudi Awwal Banks becomes first bank in Saudi Arabia to win Sustainability Program Award 2024 at Capital Markets Forum

10/03/2025

Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).

This achievement make

Saudi Gazette

Saudi Aramco cuts crude oil prices for Asia

10/03/2025

Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+

Arab News

UDC enters Guinness World Records with three new global achievements on Gewan and The Pearl Islands

09/03/2025

United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema

The Peninsula

Talabat Kuwait denies security breach, says data safe

07/03/2025

Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.

In an official statement, Bader Al-Ghan

Trade Arabia