International law firm Trowers & Hamlins is pleased to have advised leading investment company Taameer Investment SAOC, part of the Golden Group of Companies (GGC), on its recent deal to set up a chain of hotels in Oman - the largest deal of its kind for a hotel chain operating in the Sultanate.
The deal will see UAE-based hotel business Rotana create 1,500 3-, 4- and 5-star rooms in Muscat, Sohar and Salalah by 2020, and is a strategic move by Taameer Investment and GGC to increase hospitality operations in Oman. Rotana currently manages a portfolio of over 100 properties throughout the Middle East, Africa, South Asia and Eastern Europe.
Suleiman bin Masood al Harthi, CEO of Taameer Investment, commented: "The pact with Rotana Hotels coincides with the operation of Salalah International Airport and completing the main stages of expansion work of Muscat International Airport, which will create a qualitative leap in the number of flights coming to the sultanate. This requires doubling residence and hotel service."
A signing ceremony to complete the deal took place on 9 November 2015 under the patronage of H E Ahmed bin Nasser bin Hamad al Mehrzi, Minister of Tourism for Oman, and in the presence of H E Sheikh Abdullah bin Nasser bin Abdullah al Bakri, Minister of Manpower, as well as government officials, undersecretaries and businessmen at InterContinental Muscat.
International Real Estate partner Sallie Bowtell advised Taameer Investment and GGC on the hotel management agreements for the deal with Rotana.
Trowers & Hamlins' Hotel and Leisure Group advises owners, operators, developers, funders, contractors, consultants and specialist suppliers for a wide range of assets and businesses including hotels, health and fitness centres, golf courses, cinemas, spa facilities, bars and restaurants.
Trowers & Hamlins is a City, national and international law firm with 135 partners and over 800 staff. The firm has offices across the UK, Middle East and Far East.
The firm was the first foreign law firm to secure a licence in Malaysia in April 2015. In recognition of this, the firm received the Law Society Excellence Award for Excellence in International Legal Services in October 2015.
Trowers & Hamlins is a limited liability partnership.
Brooke Johnston
Trowers & Hamlins LLP
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© Press Release 2015
