'Leading Business Hotel' World Travel Award for AKMC's Riyadh based Hotel

Dubai, UAE - 6 May 2009: Al Faisaliah Hotel, owned by Al Khozama Management Company (AKMC), has won the Travel Industry's 'Oscar' like award - Saudi Arabia's Leading Business Hotel. The award, which is chosen by travel professionals from around the world, was presented at a glistering WTA Awards ceremony held at the Monarch Hotel in Dubai on Tuesday.

Al Faisaliah Hotel forms an integral part of Saudi Arabia's iconic Al Faisaliah Center, which also consists of the country's first skyscraper Al Faisaliah Tower and Al Faisaliah Mall.  Perched on top of the Al Faisaliah Tower is the Globe restaurant, offering tantalizing cuisine complemented with exceptional service and breathtaking views of the city.  The Experience, an open-air observation deck - located just below the Globe restaurant, offers 360 degree views of the Riyadh skyline.

"It has been and always will be our endeavour to support our government's initiatives in developing the tourism infrastructure of the country and we will continue to further develop and manage ultra-luxury properties across the Kingdom", stated Chief Executive Officer of AKMC, Mr. Musaed Al Said. 

"Since its opening in 2000, Al Faisaliah Hotel has been redefining the level of personalized service.  In addition to numerous acclaims received over the year, this is the sixth consecutive year that this luxury property is  bestowed with a WTA award," he continued.

Receiving the award, the Vice President - Hotels Division of AKMC, Mr. Hussein Hatata, commented:  "We are honoured to receive "Saudi Arabia's Leading Business Hotel" award, which is a recognition to our commitment to quality, luxury and impeccable service."

Since 1995, Al Khozama Management Company has been at the forefront of tourism and hospitality development across the Kingdom of Saudi Arabia.  Its diverse portfolio includes some of the country's most iconic hospitality, retail and mixes-used complexes.

The company's portfolio includes Property Ownership and Management, Hospitality Management and Retail Management & Investment.

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Al Khozama Management Company is a property investment company based in Riyadh and is listed on the TADAWUL, developing and investing in prime, modern properties and providing property asset management to third party property owners. Al Khozama Management Company's primary objective is to produce superior sustained and secure long term shareholder returns. The organization does this through a focus on actively adding value to its own and to third party clients' real estate through portfolio selection, development and active asset management.

The organisation's property portfolio is valued at over SR2.4 billion. The investment approach is to concentrate on the key elements of each asset; attracting occupiers, adding value, excellent locations and effective estate management.As part of the investment strategy, Al Khozama maintains a world-class property portfolio, which includes hospitality, residential, retail, office and master developments. Concurrently, Al Khozama also ensures that it services properties among its own portfolio and additionally, outside of this realm. The organisation's property services include leasing, property management for retail, hospitality and offices as well as for its large scale developments and projects.

One of the major projects Al Khozama is developing is Al Shohada Hotel in Makkah, KSA. Situated, within the close proximity of the Holy Mosque Al Haram, this 494 room, five-star property is currently under a multi-million dollar renovation designed to meet the ever increasing market demand for accommodation. Other major aspects of the portfolio include Al Faisalia Tower in Riyadh's major business district and Al Faisaliah Hotel a five star deluxe hotel, which opened in February 2000.

For more information contact:
Asad Abbasi
Tel: +971 50 436 8618
Email: asad.abbasi@buchananme.com

Hussain Hatata
Tel: +966 1 273 2000
Email: hhatata@kff.com

© Press Release 2009