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17 Feb 2014 07:00
17 February 2014
Action Hotels plc
("Action Hotels" or the "Company")
Premier Inn & Action Hotels Eye Regional Growth
Action Hotels key partner to launching multiple Premier Inn hotels in the Middle East by 2016
Dubai, UAE February 2014: Action Hotels plc and Whitbread plc announced today a partnership to develop the Premier Inn brand across the Middle East.
Premier Inn will undertake long-term management contracts on four new Premier Inn hotels owned by Action Hotels, to open between now and 2016. This is in accordance with the rollout strategy outlined in the Company's admission document dated 17 December 2013. As Premier Inn announced on 14 February 2014,the hotels include a 166 bedroom Premier Inn Sharjah King Faisal Road (opening late 2014), a 100 bedroom Premier Inn Jeddah in the Modon Industrial area (opening 2015), a 119 bedroom Premier Inn in Bahrain's Diplomatic area (opening 2015) and a 245 bedroom Premier Inn Dubai Healthcare City (opening 2016).
Action Hotels plans to invest c. AED 378M (£63M) over the course of the next two years as they build and develop the new hotels, which will create 170 new jobs in the region.
Managing Director of Premier Inn Middle East & Africa, Darroch Crawford said "Premier Inn already has five hotels operating in Dubai and Abu Dhabi and the brand is proving very popular with customers who are looking for great value accommodation and a great quality product. We are delighted to be partnering with Action Hotels to introduce the Premier Inn brand to new countries and significantly increase our presence in the region."
Alain Debare, CEO of Action Hotels plc commented: "We have established a strong hotel business which is well-placed to take advantage of the significant growth opportunities for branded economy and midscale hotels across the Middle East. Our partnership with Whitbread's Premier Inn brand will enable us to strengthen our leading position in the region." Debare concluded.
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For further enquiries, please contact:
Action Hotels plc Alain Debare, Chief Executive Officer Alaister Murray, Finance Director
| +971 (4) 328 9211 |
Sanlam Securities UK Limited Lindsay Mair/Virginia Bull (Corporate Finance) Catherine Miles (Corporate Broking)
| +44 (0) 20 7628 2200 |
About Action Hotels
Action Hotels PLC is an owner, developer and asset manager of branded economy and midscale hotels in the Middle East and Australia, listed on AiM on the London Stock Exchange. The Group's objective is to become a leading owner, developer and asset manager of branded economy and midscale hotels in key Middle East markets and Australia. Action Hotels has completed six hotels, of which five are in the Middle East and one is in Australia, with a further two hotels under construction (both in the GCC), one hotel expansion and another six Pipeline projects (one in Australia and the remainder in the GCC).
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