News
»  Emirates
»  Arab World
»  International
»  Sports
»  Business
»  Special Reports
»  Archives
Bookmark and Share
You are here: Home > News Bulletin
Text size
Paramount Hotels '&' Resorts Signs MoU With Alpha Tours To Develop New Projects In Italy
2014-02-03 10:38:35
WAM Abu Dhabi, 2nd Feb. 2014 (WAM) -- Dubai-based Paramount Hotels & Resorts, part of Italy's Paramount group, has signed an Memorandum of Understanding (MoU) with Alpha Tours LLC and Grand Hotel Via Veneto S.p.A. on Sunday in a special ceremony held at the Emirates Palace Hotel Abu Dhabi.

All parties signed the MoU in the presence of the Italian Prime Minister, Enrico Letta, Sultan bin Saeed Al Mansouri, Minister of Economy and Italian Ambassador to the UAE, Giorgio Starace, alongside many Emirati officials and high-profile guests. The MoU was signed to enhance working relationships and to serve mutual intentions of the parties.

The MoU stated that all parties will be searching for primary locations generally in Italy and particularly in Rome, Venice and in Sardinia Region; and express their desire to cooperatively promote the development, operations and promotions of successful hotels and theme park as well.

In addition, Parties recognize the inherent importance relating to the exposure of international hospitality industries.

Mr. Ghassan Aridi, Executive Chairman of Paramount Hotels & Resorts FZ-LLC, and CEO of Alpha Tours, signed the MoU with Mr. Carlo Acampora, Chairman and CEO of the Italian-based Grand Hotel Via Veneto S.p.A..

The Parties, having already located some key-areas and prestigious properties in the Country, will do their best to verify the feasibility on properties already used (or to be used) as hotels, either currently operating or not operating, renovated or to be fully renovated and to finalise high-end hotel projects.

Such hotel projects will also lead to boost a variety of investments linked to such developments, in addition to subsequently give momentum to the real estate sector, to the tourism industry and, especially, to the employment of significant number of personnel, not only during the construction phase but also during the hotel management and operation stages.

The Parties will also make efforts in order to collect updated detailed data and conduct extensive market research through the support of governmental and semi-governmental institutions to find the best solution suitable to the implementation of the amusement park business.

WAM/tfaham
Bookmark and Share
Market Watch
»  Abu Dhabi
»  Dubai
»  UAE Stock Market
»  NBAD Exchange Rate
Videos
more...
Surveys
Wam AnyWhere
Get the news at your fingertips..
Weather         For more details click here
City Temperature Humidity
Abu Dhabi 39 26 85 25
Dubai 38 27 80 30
Sharjah 38 26 85 30
Ras Al Khaimah 37 25 90 25
Umm Al Qaiwain 37 25 90 40
Ajman 36 25 85 35
Al Fujairah 31 26 75 20
Al Ain 39 27 70 20
Abu Musa 35 24 85 30
Tunb Kubra / Sughra 35 24 85 30
Delma 35 25 85 30
Ruwais 39 25 85 25
Liwa 40 27 85 20
As-Sila 39 25 80 25