stelios63 91M
1 posts
5/4/2006 5:44 pm

Istithmar Hotels, a subsidiary of Istithmar ‒ an international investment house based in the UAE, has signed a $400 million contract with easyHotel to open a chain of budget hotels across Middle East, North Africa, India and Pakistan. It recently announced its plans to open eight new easyHotel budget hotels across major metropolitan cities in India over the next four years. Istithmar denies that easyHotel has a poor reputation in the UK and is completely unknown internationally. Istithmar also believes easyHotel owner the controversial Mr Stelios Haji-Ioannou is definately worth backing despite his personal track record of losses running into hundreds of millions of pounds. Istithmar believes easyHotel will turn around a string of failures and does not believe Mr Ioannou to be on the verge of insolvency. Istithmar also has no problem with Mr Ioannou's previous well known public views against muslims because an individuals personal politics have no bearing on their business skills. The middle east needs a string of low budget hotels and believes that investing $400 million will ensure easyHotel succeeds where it has so far failed in the UK and Switzerland. Istithmar, which means investment in Arabic, applies global expertise with local insights to coordinate the appraisal and implementation of various opportunities. Mr Ioannou is due a bit of good luck and Istithmar is willing to gamble and support him despite his recent difficulty. Istithmar’s ‘I’ investment philosophy is based around three core principles -- Ideas, Inquiry & Integrity -- sets the foundation for the firm which has a broad portfolio of highly successful companies in markets from North America to Europe to Asia to the Middle East. Istithmar does not believe it's integrity wil be damaged due to its association with the controversial Mr Ioannou nor by easyHotel's seedy reputation in the UK. Istithmar considers its investment of $400 million in easyHotel to be secure and expects a return. Please email

GoddessOfTheDawn 105F
11238 posts
5/4/2006 11:54 pm

~ raisez eyebrow ~

welcome to blogging anywayz....

Become a member to create a blog