Hotel Al Mamlouka - Syria’s first Boutique Hotel to be sold
Added: (Mon Nov 12 2007)
Pressbox (Press Release) -
Hotel Al Mamlouka
- Syria’s first Boutique Hotel to be sold -
Damascus, Syria: The owners of Syria’s first family-run boutique hotel, the Beit Al Mamlouka are pleased to announce its sale. The hotel enjoys a prominent location close to the Omayad Mosque and is revered for possessing one of the finest addresses in Damascus. The Al Mamlouka has been an institution since it opening in April 2005 and is credited with being instrumental in the return of Syria to the “tourist map”.
A former Ottoman house, the property can be traced back to the 18th Century and boasts a number of original paintings and frescos from the period. The hotel comprises of 8 rooms: 4 en-suite bedrooms and 4 double bedrooms. The suites and guest rooms were designed by former owner May Mamarbachi and feature silk draped beds, Damascene brocade, ichani and marble bathrooms. The hotel also includes a courtyard, fountain, liwan and an old Bayke (stable) that hosts a gallery, restaurant and bar, creating significant opulence and luxury.
Mrs May Mamarbachi, MD and owner of the Al Mamlouka, says:
“This transaction is a milestone achievement. One can no longer afford to ignore Damascus, the last two years have seen a significant increase worldwide in Damascus as a tourist destination and this trend is set to continue over the coming decade. The challenge is not in stimulating demand. Our ongoing conversations with investors confirm that there is no lack of investor appetite. The problem rests in finding suitable, investment-grade assets that meet the criteria of international investors. We believe there will be many more local and regional opportunities and look forward to our next project.”
Following the sale of Beit Al Mamlouka, May Mamarbachi is forming the Berea Group, to be officially launched in March 2008. The Company will offer full service strategic, financial and communications advice to local and international companies in Syria. Jade Mamarbachi will also be joining the Group as a Director bringing five years of London-based experience in finance and corporate public relations.
Jade Mamarbachi, Director of Berea Group, says:
“We are delighted to have completed our first project. We believe Damascus is well positioned to become one of the “must see” destinations in the Levant, particularly given it has been designated Islamic Culture Capital in 2008. The region offers a wealth of cross border investment opportunities and we look forward in helping to realise this potential in our future projects.”
The 8 room, 5-star Hotel will continue to be operated as the Beit Al Mamlouka by its new owner.
About Berea Group
Berea Group is a leading, full-service, advisory group specializing in providing strategic, financial and communications advice to local, regional and global companies across the Levant region.
For further information, please contact:
May Mamarbachi (CEO)
T: +963 (0)933 64 67 88