Al-Kathiri & Sheraton Sign Agreement [Archives:2001/15/Local News]

April 9 2001

Al-Kathiri Group for Investment and Sheraton International Company on Tuesday April 3, 2001 signed a 20-year agreement. The signing ceremony was held at Sheraton Gold Mohur-Aden Hotel. According to the agreement the hotel’s administration will be undertaken by the Sheraton Company, specializing in Hotel Administration. At the beginning of the press conference held on the occasion Mr Ahmed Sheikh welcomed the Director-General of Sheraton-Sana’a Hotel Mr. Wahba, Mr. Diab, Director-General of Sheraton Gold Mohur-Aden Hotel, and financial and economic advisors at Al-Kathiri Group for Investment.
Mr. Ahmed Sheikh said that beginning on April 3,2001 the Gold Mohur Hotel is to be one of the string of hotels of Sheraton International Company. This is in implementation of the agreement signed on February 14 between Sheraton Hotels Company and Al-Kathiri Group for Investment, particularly due to the hotel’s good location and features. He added that he hoped they would complete certain improvements to meet requirements of world tourism. As for the second phase there will be a building of a tourist village located behind the hotel, a club for yachs, refurbishing and the maintenance of the Gold Mohur Beach club , as well as a Yemeni club, Mr. Ahmed Sheikh added. He had also said that the agreement signed with the Sheraton would be a gain for the country and tourism development.
Director-General of Al-Kathiri Group said the second phase would cost US$ 30 million. Further, confirming that tourism development influences and gets influenced by economic and social activity in general, and stated ” we hope that tourist movement would prosper under the political and economic stability.
Addressing the conference was also Mr. Fadhil Wahba, Director-General of Sheraton Sana’a who welcomed the journalists attending the press conference. He said that it was held on the occasion due to the agreement between Al-Kathiri Group and Sheraton company on April 3, 2001 based on the previous agreement signed on February 2001. Sheraton company would run Gold Mohur-Aden Hotel and its name would be Sheraton Gold Mohur-Aden based upon a 20 year contract.
Mr Wahba concluded his statement by saying that the number of employees in Gold Mohur-Aden Hotel are 151 with 8% foreigners. ” Our task is to develop the labor and train them. There are specialists for that, courses for qualifying them are scheduled to be carried out at the Sheraton International Company.