MANAMA: With the shareholders of the Gulf Hotels Group gave a nod to acquire the Bahrain Tourism Company (BTC), a mega hospitality company is on its way to support the Kingdom’s endeavours to stir the tourism sector.
The BD35million deal is one of the Gulf Hotel’s ambitions to form a hospitality group to cater for the needs of Bahrain’s tourism sector, says Chairman of the Gulf Hotel Group Farooq Almoayyed.
Almoayyed on the sidelines of the EGM highlights the importance of the deal while speaking to The24X7News (www.twentyfoursevennews.com) and believes that the move will impact positively on the hospitality sector.
Under the deal, the Gulf Hotels Group will accommodate 12 members of Bahrain Tourism Company on the board by issuing 74 million shares.
Bahrain Tourism Company owns Hotel Crowne Plaza and the Bahrain Conference Centre.