Interior Hotels becomes 'Ubar Hotels and Resorts'

23/03/2013 07:40 AST

Interior Hotels Company SAOG (IHC) approved 10 per cent cash dividend for its shareholders at its 18th Annual General Meeting held last week. The AGM was chaired by Usama Mohammed al Barwani, Chairman of IHC. According to a company release, "The Chairman thanked all the shareholders for their support in expanding the company as a result of which in the month of August 2012, the company was able to successfully acquire the Al Ahlam Hotel Management LLC. This company is under an International Management agreement with Rezidor SAS Hotels Middle East WLL for the management of the Park Inn Hotel in Muscat."

The statement further added: "As the company is expanding and already has its presence in Muscat and Nizwa and probably will have more hotels coming up in different regions of Oman, it is the appropriate time to change the name of the company from 'Interior Hotels Company SAOG' to 'Ubar Hotels and Resorts SAOG' which was unanimously agreed and approved by all the shareholders during the EGM held on the same day."

The government's long-term economic plan to diversify income resources will make the tourism industry one of the important revenue-generating sectors in the coming years, and overall scenario of the tourism sector will generally be positive and is expected to grow in the coming year" the release informed. The company has been encouraging the employment of Omanis and their continuous growth in various departments and is making concerted efforts to achieve the required Omanisation levels set by the government.

The CEO of the company Sandeep Jaitly is confident that after the acquisition of Al Ahlam Hotel Management Co LLC (Park Inn Hotel Muscat), the company will grow further this year and be able to produce better results for its shareholders.

Oman Daily Observer