UAE Backing Secured by Aquis Hotels
November 25, 2008. Up-market eastern Mediterranean chain Aquis Hotels and Resorts has attracted significant new funding from Abu Dhabi.
Sheikh Tahnoon Bin Saeed Al Nahayan, a member of the UAE state's royal family, has been named as chairman of Aquis and it is believed that a multi-million pound capital injection is being made into the company. He takes the place of David Howell, executive chairman of luxury operator Western & Oriental, who becomes vice-chairman of Aquis.
The company, which was launched in August with five properties in Greece, plans to expand to 30 hotels in three years including moves into Turkey and Egypt.
The company's first hotels are in the Greek islands, with the three in Corfu and one in Kos becoming operational in time for summer 2009.
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