Ramee Group announced the 100 per cent acquisition of Bahrain's Ramee Grand Hotel and Spa in the Seef area as well as major expansion plans at a Press conference today.
Ramee Properties, a unit of Ramee Group, previously owned 40 per cent of the property, valued at BD30-million ($77.3 million). It has now acquired the remaining 60 per cent shares from Alireza and sons Group.
The group also revealed plans to develop another five-star property in the kingdom. Estimated to cost over BD7 million ($18 million), the Juffair Views will be a luxurious hotel apartment development featuring 120 suites, a restaurant, spa, health club and outdoor swimming pool.
Raj Shetty, chairman of Ramee Group of Hotels and Ramee Properties, said: "This acquisition will add value to the property and give us an opportunity to provide enhanced services."
"Bahrain's hospitality sector showed positive results last year, with occupancy rates going up 4-5 per cent compared to 2015," he said.
Also present at the conference were Girish Rodiyal, executive assistant manager of Ramee Grand Hotel, Seef; Ahamed Nadeem, project head, Ramee Group; and Brian Spence, Group general manager.
Located in close proximity to shopping destinations, the exhibition centre and conveniently accessible from King Fahd Causeway, Ramee Grand Hotel and Spa offers 175 rooms, a variety of dining options, a rejuvenating Spa, health club, salon and swimming pool.
Construction is expected to begin in 2018 on the new property and it will be fully operational by the end of 2020, said Nadeem.
The group has also been very aggressive in it expansion globally, unveiling plans to open a Ramee Grand Hotel and Spa in Dubai's Business Bay. Estimated to cost Dh350 million ($95.2 million), construction of the hotel is already underway and will be open to guests in 2019.
The Dubai property will cover an area of 500,000-sq-ft and will offer 200 rooms, five food and beverage outlets, a 2,000-sq-m banquet hall as well as a spa and other amenities.
"Ramee Grand Hotel and Spa is our flagship five-star property and we are proud to take it to Dubai," Nadeem added. The Dubai hotel will be completely owned by the Ramee Group.
Other expansion plans include Oman, where it is looking to add another 80 rooms and other F&B options to its exiting portfolio of three hotels.
Taking one step forward, Ramee Group also plans to 'upgrade all of its existing four-star properties in the kingdom to be in line with the new guidelines released by the Ministry of Industry, Commerce and Tourism'. The renovation programme, which will cover a total of 800 rooms, is expected to be completed by 2018. - TradeArabia News Service
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