Coral Hotels & Resorts, announced its plans to open Coral Boutique Hotel Baghdad in Iraq.
The deluxe property will be operated by Coral under a management agreement with United Iraqi Trading Company.
Michel Noblet, President & CEO, HMH – Hospitality Management Holdings, said the development aligned perfectly with the company’s strategic growth plans in the region.
“We are thrilled to take our brand to Baghdad and to welcome this amazing destination to the Coral family,” he said.
“Coral Boutique Hotel Baghdad embodies the distinctive experience that our guests expect from Coral along with the rich local culture and warmth. With its prime location in the prestigious Jadriya area and proximity to major business and leisure attractions, we know that it will be a very successful property. We hope to play a significant role in the emergence of Baghdad as a popular destination and leading economy in the Middle East.”
The developers want to turn Coral Boutique Hotel Baghdad into a “destination address”, according to Khalid Al Yasiry, managing director, United Iraqi Trading Company.
“We are excited to work with the Coral Hotels & Resorts and look forward to offering a memorable experience in terms of product and service to our valued guests,” he asserted.
“We are confident that Coral Boutique Hotel Baghdad will deliver outstanding hospitality and would be a very safe address in Baghdad being situated in a prime location as well as being equipped with the highest level of security.”
Featuring 80 rooms and suites, Coral Boutique Hotel Baghdad is in the advanced stages of development and due for opening in the next few weeks.
“Iraq is a lot safer now and with all its history and civilisation is once again drawing people and always will,” Noblet said.
“From the ruins of Babylon to the historical riches of Baghdad, it is one of the most ancient cradles of civilization boasting some of the finest archaeological and holy sites in the world.”
A Citybank study on the fastest-growing economies placed Iraq second out of 10 nations with the most promising growth prospects for the period 2010-2015, with a yearly increase in GDP of 11.7%. Iraq’s National Development Plan (2010-2014) calls for $186bn in spending to set the country on course to become a diverse and competitive economy dominated by the private sector.
“It is no doubt a very promising scenario and gives our brands a unique opportunity for growth and expansion. We have two more hotels under negotiation in the country,” Noblet added.