Le Meridien Royal Algarve to open in 2004

Sheikh Mohamed Bin Issa Al Jaber, Chairman of MBI International & Partners and Le Meridien Hotels & Resorts Chief Executive Officer Juergen Bartels today announced plans to open Le Meridien Royal Algarve, a luxury hotel, spa and leisure facility at the Pinheiros Altos resort in early 2004.

Featuring a magnificent championship golf course, Pinheiros Altos is a world class development situated on the border of the Ria Formosa nature reserve on the edge of the Atlantic Ocean, Algarve. The new €80 million Le Meridien Royal Algarve at Pinheiros Altos is anticipated to be one of the finest and most sophisticated hotels in Europe. The property will boast 144 luxury suites and 38 apartments, as well as a health spa, conference facilities, two restaurants, two swimming pools, first-class tennis and sports training facilities.
Celebrating 15 years of achievement and development in Portugal, MBI Al Jaber also has plans for an additional 18-hole golf course at Pinheiros Altos and another two 18 hole golf courses, a 9 hole academy course and hotel at a new private development in nearby Silves.
As part of the agreement MBI International’s wholly owned subsidiary JJW Hotels and Resorts and Pinheiros Altos Group will acquire the Le Meridien Dona Filipa Hotel in Vale do Lobo, along with the renowned San Lorenzo course Quinta do Lago. MBI International will also award a contract to Le Meridien to manage the Al Khobar compound, a luxury villa hotel currently under full refurbishment in Saudi Arabia.
In addition to awarding Le Meridien the management contract for this resort MBI International has made a unilateral promise to acquire Le Meridien Penina and its two golf courses. Le Meridien would continue to manage both the Dona Filipa and Penina Hotels while the San Lorenzo golf courses and Penina’s 36 holes would be managed by Pinheiros Altos Group.
“We are extremely proud to add Le Meridien Royal Algarve to our portfolio of luxury resorts,” Bartels remarked. “And most importantly, this agreement signifies what we see as mutually-rewarding long term partnership with Sheik Mohamed and his group, MBI.”
“We are delighted that the hotel in Pinheiros Altos will be opening as Le Meridien and we look forward to a mutually-beneficial venture,” said Sheikh Mohamed. “With our acquisition of Le Meridien Dona Filipa and San Lorenzo Golf Course, and the promise we have made to acquire the Penina Hotel and its golf courses, JJW Hotels and Resorts and Pinheiros Altos are moving into a new era. We look forward to continuing to develop luxury resorts and playing a major role together with Le Meridien in continuing to promote the Algarve and Portugal as a major worldwide leisure destination.”
MBI International and Partners is the global entity that combines the companies of Sheikh Mohamed Bin Issa Al Jaber. It is an influential business and community leader in Europe and the Middle East with a portfolio of business interests in a wide range of commercial sectors including hotels and resorts, development and investment, as well as the food industry. Operating through a corporate headquarters in London, MBI International has significant operations in France, Portugal, Austria, Egypt, Lebanon, Jordan and Saudi Arabia.