Mr Al Jaber, who owns hotels throughout France, was presented with the award by Monsieur Leon Bertrand, Minister of Tourism. In his congratulatory speech Monsieur Bertrand said:

"Your Excellency,

Tourism, education, and culture have always had very close ties to one another. In fact, it would not be too much to say that they are all correlated.

When taking a close look to history, one realizes that the very first 'tourists' were the young descendants of English aristocracy. In fact, most of them went along a journey called 'the big tour' that lead them in Italy, considered as the root of antique culture and civilisation.

Hence, it is not surprising for our ministry of tourism and my office to be located here, neighbouring the UNESCO, veritable temple of culture.

It is also not a coincidence if I am about to honour and distinguish today, a man who is a major actor in the tourism industry and a passionate supporter of UNESCO's program throughout the Arab world.

Tourism is not only sun seeking, it is also a wonderful opportunity in discovering new cultures. It gives the possibility for people to exchange and communicate, and thus, enrich themselves with a better understanding of the people. It fosters the capacity of every human to insert himself into the world community.

These are all the values we share, your Excellency, and I am proud to celebrate them by offering you the golden medal of tourism.

Far beyond your generosity toward future generations, which you help through all your charity and educational foundations, you are a successful and wise businessman.

You are the founder and executive president of MBI international, a holding that operates in 3 distinct sectors: - Construction & Development Industry; building luxury compounds in your natal country, the kingdom of Saudi Arabia - Food Industry; in the Arabic Peninsula and North Africa - Hotel Industry; throughout Europe and the Middle East.

This international implementation does not hinder you from keeping very close relationships to your Saudi roots.

You created and founded 'JJ Worldwide' in 1989, in order to manage your assets in the tourism industry. Well, your group owns today 45 hotels and resorts in Europe and the Middle East. These hotels range range from the ultimate luxurious category to economy hotels.

One of the jewels of your collection is certainly the Grand Hotel Wien, a member of the prestigious 'Leading Hotels of the World', without forgetting the Berners Hotel in London or the Pinheiros Altos Golf Resort in Portugal.

However, it is in France that is concentrated most of your acquisitions: 35 hotels, 13 of which are in Paris. Paris, city of light, city of romance, where two of the most important vessels of this naval fleet are present: the Balzac and the 'Hotel de Vigny', only 'Relais Chateau' in Paris. The Balzac is currently under renovation, in order to offer the finest decoration and the best quality service.

These investments are essential in view of embellishing and modernising France's hotel industry and this ceremony is an initiative to show you our gratefulness and thanking you for all of your contribution to France's position as a luxurious destination.

It is also in France where you have made good friendships and good friends, among them is Xavier Bonnel whom I salute.

Your group continues to grow and prosper on the emerging markets of the Middle East. Two projects are currently under process: the construction of an Amarante four stars hotel in Cairo and the renovation of two leisure cruising ships on the Nile.

The expansion of your hotel activities clearly shows the overall dynamic in worldwide tourism. The growth of international tourists flows raised by 10% in 2004 as it already rose by 5.9% for the January-July 2005 period.

Tourism and the hotel industry are inherently, in their very essence, global industries. The majority of Parisian palaces belong to foreigner investors, and inversely, our hotel groups pursue their expansion abroad. We are therefore in a win-win situation where the nationality of a hotel owner is less important than the occupancy rate of his hotel, considering that it favours employment and economic activity.

Let me remind you that it is in the hotel and restaurant industry that employment have been the more created in 2004 (+2.8%).

France has always occupied a special place in the tourist's heart and it is our responsibility and duty to offer to our hosts a real sense of hospitality and a quality of service at the height of our reputation.

The hotels that you are running, your Excellency, highly contribute to the development of our economy. It was therefore natural to thank you with this golden medal of tourism, in this highly symbolic place, the UNESCO.

You are one of the most generous contributors and, since March 2005, the personal envoy of the Director-General Mr Koïchiro Matsuura 'for education, human rights, tolerance and culture in order to build peace and democracy'

It is our honour and pleasure to associate this distinction to your commitment toward peace, as tourism could be one of its vectors.

Thank you"

The signature of the agreement between MBI’s Chairman Mohamed Bin Issa Al Jaber and Levallois-Perret’s Mayor Mr Patrick Balkany takes place today, June 30th at 11 a.m. at the Town Hall, in the presence of Mrs Christine Lagarde, Minister of Economy and Finances, and of Mr Patrick Devedjan, President of the Hauts de Seine General Counsel.

This project is one of the most important investments for the next 10 years in the Parisian inner-city suburbs. It is located on the banks of the Seine river and will comprise around 85,000 sqm of office space; a 400 rooms luxury hotel (35 000 sqm) owned and managed by JJW Hotels , with  a VIP restaurant, a pool and a SPA; and a 6 floors parking garage accommodating over 1400 cars. The total net area of the project is 125 000 sqm.

Mohamed Bin Issa Al Jaber, Founder, Chairman and CEO of MBI International & Partners comments: “MBI is focusing its expansion at the luxury end of the real estate business. This investment comes to crown 20 years of business presence in France. It will not be the last as we will continue to expand in the business and hospitality sectors of this country”. This major investment demonstrates the strength of MBI International and their ability to identify quality assets in growing areas of the capital.

On the other hand, Mayor Patrick Balkany applauded this business venture and said: “Mohamed Bin Issa Al Jaber, known as a philanthropic and a successful businessman is considered today a major player in the French hospitality and business sectors, with a strong track record that is based on 20 years of continuous achievement in Europe, we are confident that “Les Tours De Levallois” will soon become another iconic and prestigious development that will boost the surrounding area and position itself as a major development in the French Capital”.

Mrs Christine Lagarde, French Minister of Economy and Finances expressed the full support of the French Government to Mohamed Bin Issa Al Jaber, and wished him years to come of success in France and Globally.

MBI International selected the renowned architects Pierre Epstein and Sylvain Glairman to design the project, that has already achieved planning permission, and that should be delivered by end 2012. As with all of its new build projects, the towers will be of High Environmental Quality (HEQ) which includes lower energy consumption, limiting waste and rationalizing maintenance. Levallois-Perret is a thriving economic district which is near La Defense, a major business center and easily accessible from Parisian airports, train stations and motorways.

The proximity of Levallois to the French capital is a great business advantage. Levallois is today the chosen spot for over 3 500 business leaders including L’Oréal, Carrefour, Alstom, and BASF. Just minutes from the Champs Elysées and La Defense business district, the location offers a building surface area impossible to attain within the Paris city limits: the Tours de Levallois promises to be a pioneering project unique in the heart of Europe.

To sustain this project, MBI will rely on its traditional financial partners such as BNP Paribas, JP Morgan, Merryl Lynch, Deutsche Bank and Standard Bank.

• Les Tours De Levallois website 
• Download Press Release in Arabic (.pdf)

On the evening of November 6, 2007 the new Viennese 5-star hotel ‘The Ring’ was opened personally by its owner, Sheik Mohamed Bin Issa Al Jaber in the presence of numerous prominent guests. In all 250 attended, from Austria as well as from abroad, among others the Director of the Vienna State Opera Ioan Hollender, the president of the Chamber of Commerce Brigitte Jank, the Director of the Belvedere Museum Agness Husslein, author Elfie Donelly, film producer Karl Spiehs, the pop band ‘No Angels’, actress Marion Mitterhammer, designer Atil Kutoglu, actress Susanne Wuest and many more. The house-warming party was a deliberately casual affair, in the style of a ‘Back Stage Party’. All guests were excited about the new building and its luxurious ambience on Vienna’s Ring-Boulevard.

After a construction period of 13 months The Ring hotel, Vienna’s Casual Luxury Hotel was opened on November 6, 2007. 250 opening guests assembled in the fresh evening air at 19.00 on the turquoise carpet in front of the building and awaited the ceremonious opening with a cocktail reception. Exactly at 19.30 two men lowered themselves on a rope from the roof of the building during a spectacular fireworks production and passed the house key to hotel owner, Sheik Mohamed Bin Issa Al Jaber and the Managing Director Karim Jalloul. Finally the house was unlocked, lighting turned on and the guests could enter.

At first the ground floor lobby with its eye-catching wide fire place was presented, followed by the restaurant ‘at eight’ and the bar ‘Drings’. Artist Hans Dietrich designed particularly for the evening a somewhat different guest-book. On a large picture, specially designed by him, the contours of the hands of the guests and their signatures were immortalized.

Rooms and suites were open to visitors on all floors…

An X-Ordinary room was transformed into the ‘Music Room’. A musician played together with a saxophonist according to individual wishes, while guests made themselves comfortable and enjoyed the music.

A room party particularly to the taste of female guests was celebrated in the ‘Ladies Room’. A tub filled with ice served as a champagne-bar. On the plasma-TV-screen in the room ‘Sex and the City’ was showing, while top fashion and jewellery were displayed to the ladies. Designer Andreas Eberharter, known under his brand name “And I”, presented his collection ‘Shimmer’, already shown in New York, now available in internationally accredited fashion stores. Fashion expert Edith A’gai, an Austrian-Hungarian designer presented her ‘a little black dress’ collection.

In parallel gents enjoyed themselves with tabletop football at the beer bar and watching sports-TV in the ‘men’s room’.

Albert Gesellmann, frequently awarded Austrian wine producer, invited guests to a taste-tour through the small but exquisitely equipped wine cellar, where more than 700 fine bottles are stored. But there where also further prominent Austrian wine producers present: Willy Bruendlmayer offered his outstanding sparkling wine as aperitif and colleague Martin Pasler poured his excellent white wines.

The real gem of the hotel, the ‘Ring Suite’, of some 120 sqms, was shown, too. Guests were enchanted by the staggering flair of this suite, with its ceiling-stucco (officially protected as part of an historical building), the balcony directly over the Ring Boulevard and the luxurious furniture. During this presentation Whisky-cocktails were offered and singer Jengis entertained the guests.

The spa and wellness area presented a particular highlight. In the sauna with direct view to the beautiful “Karls”-Church guests could foresee their future with the help of a fortune teller. In the treatment room head, back and foot massages were offered. In the fitness section an herb-expert served various sorts of teas and snacks and explained the effect of the different plants.

Guests celebrated till late at night with Vodka-drinks in the bar ‘Drings’ and delicacies from the aroma cuisine of the restaurant ‘at eight’, accompanied by a DJ and saxophone music. The international guests then had the pleasure to spend the first night in the just opened hotel.

Concept and planning of this openening-event were developed by the experienced Viennese agency “pi-five”. Already at the early stage of planning the extraordinary invitation idea attracted attention: The invitation card was embedded together with ‘The Ring’ ties of friendship into a symbolic box of chocolates. On top there was a picture of the Viennese Ring Boulevard on which representatives of the surrounding buildings welcomed with their signatures the new member of the Ring-family. Already weeks before the opening the facade of the hotel was flood-lit in a pistacio colour. Cardboards of prominent ‘tourists’ i.e. Johnny Depp as Jack Sparrow or Angelina Jolie as Lara Croft were positioned along the Ring Boulevard, requesting ‘Show me the way to The Ring’ and finally pointing out ‘Follow me to The Ring’.

Further information and photos
Céline Brigg, Public Relations & Communications Manager
Tel. : +43 1 515 80-761 or cbrigg@jjwhotels.com
Press lounge: www.theringhotel.com

Peter Tyrie, the founder and Chief Executive of The Eton Collection, will join as Chief Executive of JJW Hotels & Resorts United Kingdom. He will be responsible for consolidating The Eton Collection, which includes Threadneedles Hotel in London, into the UK Group which includes The Berners Hotel in London, The Scotsman in Edinburgh and 42 The Calls in Leeds.

M.B.I. Al Jaber, founder, Chairman and CEO of JJW Hotels & Resorts comments:

“JJW Hotels & Resorts is focusing its expansion at the luxury end of the hotel market and The Eton Collection has a well-established position in this growing market sector. With hotels located in London, Edinburgh and Leeds, The Eton Collection fits well with our existing properties in the UK, providing excellent opportunities for cross marketing. We look forward to working with a strong and experienced management team who we are confident will be able to drive our business forward.”

Business Strategy
Since it was founded in the late 1980s, JJW Hotels has built a strong portfolio of luxury hotels in prime locations such as London, Edinburgh, Leeds, Paris, Cote d’Azur, Vienna, The Algarve and in the Middle East, Cairo.

Today’s acquisition by JJW is another move towards expanding the luxury and boutique hotels in the UK and complements recent acquisitions in Europe such as the Palais Schwarzenberg in Vienna. This historic property with its royal connections now sits alongside JJW’s renowned 'Grand Hotel Wien' also in Vienna, the Scotsman Group comprising The Scotsman Hotel in Edinburgh, 42 The Calls in Leeds, and La Tremoille in Paris’ golden triangle’. Also in Paris’ 8th arrondissement are JJW’s luxury Hotels Balzac and De Vigny.

JJW also owns the world renowned and exclusive Pinheiros Altos golf resort located on the Algarve coast in Portugal. This private, gated community, is home to an international standard 27 hole golf course with a private Club House. Currently under construction is a luxury 5-star hotel and spa on the highest of the development, due to open in 2008.

Notes to Editors

• JJW Hotels, is a wholly owned subsidiary of MBI International, in excess of $5 billion multinational company with strong interests in Europe and the Middle East. MBI International is owned by Mohamed bin Issa Al Jaber, a Saudi businessman.
• JJW is an international Group involved in the acquisition, development and operation of hotels and resorts in prime locations in Europe and the Middle East. Established in France and Portugal in the late 1980s, the Group has acquired an impressive portfolio of Luxury hotels in Europe and the Middle East.

Mohamed Bin Issa Al Jaber’s bid was accepted by the family as he believes in the strong anchorage of the family Schwarzenberg within the project, the sensible strategy for the historical continuity as well as the positioning of the Palais Schwarzenberg Hotel within the existing portfolio together with the Grand Hotel Wien and The Ring Hotel. Johannes Schwarzenberg, Managing Director of the Palais Schwarzenberg Betriebsgesellschaft m.b.H., added: "We favour doing business with a personally known owner. This has advantages compared to big, anonymous companies"

"I am pleased to add the wonderful Palais Schwarzenberg Hotel to our Luxury Collection, I express my thanks to the Schwarzenberg family for their confidence in our work and I look forward to a long-term partnership", says MBI Al Jaber proudly.

Reconstruction and development of the Palais Schwarzenberg Hotel is planned. Initial excavations for the underground garage will start immediately. If no archaeological risks appear, the extensive reconstruction can start promptly. It was agreed on the construction of an underground garage, the renovation of the palace, the appointment of the winning international architect’s project tender for the development of the glass-fronted buildings, from which further rooms will emerge, as well as the construction of a spa area. The reconstruction will be completed in close cooperation with the authority for monument conservation. If no unexpected obstacles appear, the reconstruction period will be 18 months. The re-opening of the palace hotel is consequently planned for the end of 2009.

"We will position the Palais Schwarzenberg Hotel as a high-end product. It will be the most beautiful hotel in the whole of Europe!" says Karim Jalloul, spokesperson of Mohamed Bin Isa Al Jaber and Managing Director of the hotel.

With the new 6-Star-Deluxe-Hotel 120 new, long-term jobs will be provided. For further information please visit: www.palais-schwarzenberg.com

The laying of the foundation stone of the new 5-star hotel 'The Ring' took place on September 25th 2006 on the construction site. Brigitte Jank, President of the Vienna Chamber of Commerce and the Owner Mohamed Bin Issa Al Jaber highlighted the importance of the Austrian capital within the European hospitality industry.

Vienna is a good location for luxury hotels; the Ringstrasse is the premier address in Vienna. 42 percent of all Viennese hotels are 4 or 5-Star hotels and not without reason. Out of 9 million room nights in 2005, 5,7 million room nights were booked in 4 or 5-star hotels. This is a new record, which makes investments in this segment self-evident," Brigitte Jank explained on the occasion of the ceremonial opening. 

Mohamed Bin Issa Al Jaber, Owner of the hotel chain JJW Hotels & Resorts explained that his focus is the expansion of the portfolio of independent luxury hotels in European capitals. In 2006 he acquired 'The Scotsman Hotels Group' with three luxury hotels in Edinburgh, Leeds and Paris. The city of Vienna is very important to him. "Vienna is a beautiful city with an enormous quality of life and offers outstanding cultural and tourist sites and is one of our most important locations," said Al Jaber.

The Owner´s Representative Karim F. Jalloul explained the concept and the time table.

The hotel, which will be opened in autumn 2007, will have 68 rooms and suites. The hotel follows the trend to smaller hotels, with spacious rooms and suites. Furthermore, there will be a 200m2 Spa, a fitness room, a restaurant and a bar in the basement. Planner Wilhelm Koczy confirmed that the listed elevator and listed room, which will become the 'Ring Suite', will be renovated.

Apart from those elements, modern design will dominate. The colour concept will be 'Café au lait', meaning warm colours like chocolate brown, beige, pistachio and red. Before JJW bought the building, it was the office of 'Merkur Bank'.

The hotel will combine 'luxury' with 'casual'. The hotel will feature a casual ambience with the best service and every luxury you would expect at a 5-star-hotel.

The total investment for the whole project will be € 30 Mil. The rates will start from € 275,-- to  € 1.250,-- per room per night.

The hotel will be managed by the management team of the Grand Hotel Wien.

Highlights

• Revenues up 78% to €153.9m

• EBITDA up 96% to €50.5m

• Total portfolio reached 56 hotels in 2005

• During the year the Balzac Hotel in Paris was closed for a total renovation, reopening in Autumn 2006

• £63m acquisition of The Scotsman Hotel Group (which includes The Hotel de la Tremoille in Paris) completed after the year end in line with the Group’s focus on the expansion of activities at the luxury-end of the hotel sector.
• €200m investment and acquisition programme in 2006

Commenting on the results, Chairman of JJW Hotels,  Mohamed bin Issa al Jaber said:

“2005 was a year of excellent growth for JJW Hotels and the outlook is extremely positive.  With further significant organic growth set to come through very strongly in the next few years and with a number of acquisition opportunities in our sights, we expect to achieve another strong performance in 2006.”

Further information

Richard Brook,
Group Chief Financial Officer -  JJW Hotels / MBI International
Tel: + 44 (0) 20 7935 5859
 http://www.mbiinternational.com/

Howard Lee/Laura Hickman - HeadLand Consultancy 
Tel: + 44 (0) 20 7367 5222

Results Overview

2005 was another year of significant growth for JJW Hotels & Resorts (“JJW”) and the results for the year ending 31 December 2005 were a record for the Group.  

There are a number of factors behind this strong performance and acceleration in sales and earnings growth.

Firstly, a number of investments or upgrades made to the portfolio in prior years came to fruition with hotels that had been under development or refurbishment coming on stream in 2005. The benefits of their contribution led to an uplift in year on year performance resulting in significant increases in turnover, profit and assets.  The Group also achieved good underlying growth from its existing portfolio of assets with like-for-like performance also up on the prior year.

Total turnover in the period increased from €86.4m to €153.9m up 78 %.  EBITDA increased from €25.8m to €50.5m up 96%.  EBIT increased from €13.8m to €35.1m up 154%. Net income was significantly higher at € 20.3m compared to €4.5m.

The Group is anticipating capital expenditure / acquisitions in the region of €200m in 2006.

Business Operations

Overall, JJW’s hotel portfolio continued to grow in 2005 and now comprises 56 hotels across Europe and the Middle East.  Whilst, JJW has hotels in the luxury, mid range and budget sectors, the primary focus for expansion continues to be on the luxury end of the market.

Occupancy rates for our hotels in the period continued to grow. Given the mix of hotels in the portfolio, it is not meaningful to give an average across the group. However, we are pleased to report that performance across all our hotel categories was up on the previous year.  We are particularly pleased with the strong performance of our luxury segment hotel offering.

JJW Luxury Collection

JJW’s portfolio of luxury hotels performed well in 2005.   These hotels, located in the heart of major European capitals, comprise 8 hotels including the flagship five star Grand Hotel Wien in Austria, the Hotel Balzac and Hotel de Vigny in Paris and The Berners Hotel in London. The Berners Hotel is currently undergoing a major  £32m refurbishment in 2006, which is due for completion by early 2007.

Post the year end, the Group was delighted to add further to this portfolio with the acquisition of The Scotsman Hotel Group for £63m.  SHG comprises three boutique hotels; The Scotsman in Edinburgh, 42 The Calls in Leeds and the Hotel de la Tremoille in Paris, thereby expanding operations in the UK and France and advancing the group’s focus on the development of its activities in the luxury sector.

Amarante Hotels

JJW’s Amarante hotels performed well in 2005.   Amarante hotels are aimed at the premium four star luxury segment of the market.  Typically they are located in prime central locations aimed at business and leisure travellers. 

A comprehensive refurbishment program is currently under way across the Amarante offering in France which will be completed during 2006.

The four star Amarante El-Nil is due to open in early 2007 whilst the four star Amarante Nile Cruise ships Osiris and Isis are due for launch in 2006.

Median Hotels

JJW’s Median portfolio of hotels combine city centre locations across France with modern facilities aimed at business and leisure travellers.  The portfolio currently comprises 8 hotels.

The Median St Lazare in Paris is re-opening in spring 2006 after a total refurbishment.

Stars Hotels

JJW operates 19 hotels in this budget hotel collection all located close to main French motorways, city centres and airports.  Stars hotels offer comfortable rooms, excellent quality and service and competitive prices. 

Business Strategy

Since it was founded in the late 1980s, JJW Hotels has built a strong portfolio of hotel brands from economy through to mid-range and luxury. Unlike many other hotel operators, all JJW hotels are wholly owned assets.

Today JJW is seeking to focus on expansion of the luxury 5 star hotel portfolio.  In recent years, JJW has acquired the highly sought after 'Grand Hotel Wien' in Vienna, along with 'The Berners' in London and the 'Amarante Beau Manoir' in Paris. JJW is equally active in luxury hotel acquisitions in resort locations with prestigious hotels joining the all suite hotel 'Amarante Formosa Park' in the Algarve portfolio. Each of these hotels will offer access to the Algarve's best golf courses.

The recent acquisition of The Scotsman Hotel Group is in line with the Group’s plans to build the portfolio at the luxury end of the hotel market.  JJW sees more scope to expand the portfolio by acquisition, particularly in the United Kingdom.

JJW’s mid-range and economy hotel brands are strong brands in their own right and in their respective market places with prime locations, good management and strong customer recognition.  Whilst not the priority focus of JJW’s expansion plans, they continue to make a good contribution to overall group performance.

Outlook

The new financial year has got off to a good start and the outlook is extremely positive.   A number of renovations at some of the Group’s prime portfolio locations are due for completion in 2006 and new properties are due to come on stream.  We anticipate another year of strong growth as we seek to capitalise and build on the successes of 2005. 

Notes to Editors

• JJW Hotels, founded in the late 1980s, is a wholly owned subsidiary of MBI International, a $3.8 billion multinational company with strong interests in the Middle East and Europe. MBI International is owned by Mohamed bin Issa Al Jaber, a Saudi businessman.
• JJW is an international Group involved in the acquisition, development and operation of hotels and resorts in prime locations in Europe and the Middle East. Established in France and Portugal in the late 1980s, the Group acquired an impressive portfolio of 5 star, 4 star, 3 star and 2 star hotels and now owns and operates 56 hotels in Europe and the Middle East.
• The Group is achieving rapid growth by focusing on two complementary market segments. In the more mature European market, the offering of 5 and 4 star hotels and luxury golf resorts is being increased through acquisitions and mergers. In the Middle Eastern market, growth is achieved through the construction of new hotels.
• In the European market, 4 and 5 star hotels have already been acquired in some of the world's most fashionable cities: Cannes, London, Paris and Vienna. Recently, the Group acquired the prestigious de Vigny and Balzac Hotels in Paris. The Balzac is currently undergoing a complete refurbishment to make it into one of the most sought after hotels in Paris. The Group also owns Pinheiros Altos, one of the most exclusive and successful 5 star luxury golf and residential resorts in the Algarve, southern Portugal. As part of JJW's ongoing commitment to excellence, a 5 star hotel and spa is due to open in 2006 in the grounds of Pinheiros Altos.
• The Group is also active in the Middle East. Investments include a shareholding in Kingdom Hotel Investment Group (KHI). KHI's portfolio consists primarily of 13 hotels managed by Four Seasons, Fairmont and Mövenpick.

Consolidated Statement of Revenue & Expenses in 000€

Consolidated Statement of Assets and Liabilities in 000€

Paris, 3 June 2004: MBI International, a $3 billion multinational with strong interests in the Middle East and Europe, has finalized a $102 million luxury hotel acquisition in France through its JJW Hotels & Resorts group, which includes two boutique hotels in the heart of Paris. The purchase marks the 15th anniversary of JJW's operations in France.

"We are very proud to have both the De Vigny and Balzac join JJW's portfolio. These are unique properties that offer the highest standards of excellence to a sophisticated clientele," said MBI International's Chairman and CEO Mohamed Bin Issa Al Jaber. "As boutique hotels, they form part of a growing, high value added sector of the travel industry and one in which we intend to further expand our investments." He noted that JJW is consolidating its European holdings and targeting the higher end of the business and leisure travel market.

The acquisition, negotiated and concluded by Freddie Shaibi, Managing Director and member of the executive board of JJW and his team, was acquired from Sir John Beckwith's London based Pacific PLC, through agents HVS Hodges Ward Elliott.

Their acquisition brings the number of JJW four star properties within Paris's prestigious 'golden triangle' to five, complementing the Amarante Champs Elysee, the Amarante Beau Manoir and the Amarante Arc de Triomphe and brings the total number of JJW four star rooms in Paris to over 250.

The recently renovated De Vigny hotel was built in 1980 and has 26 luxury rooms and 11 suites. It was decorated by the well-known designer Nina Campbell and provides one of the highest rated dining experiences in Paris, the Baretto Art Deco bar and restaurant. The De Vigny is the only Relais & Chateaux hotel in Paris.

Originally built in 1910 and recently renovated in 2000 the Balzac hotel has a rich history and some of the most sought after suites in Paris. The hotel features 69 luxury rooms, including 14 executive suites and a special Royal Suite with its own terrace overlooking Parisian rooftops and the Eiffel Tower. It also houses the world famous Pierre Gagnaire restaurant on its ground floor.

"This latest acquisition builds on JJW's already strong portfolio of luxury hotels and resorts that includes the Berners Hotel in London, Grand Hotel Vienna and Royal Algarve resort in Portugal," said Mohamed Bin Isa Al Jaber. "This transaction is indicative of our group philosophy which aims to replicate market dynamics by adapting to areas of high growth across both Europe and the Middle East." He pointed out that MBI International's success is based on the ability to identify and capitalize on investment opportunities in challenging markets that offer high returns. "The luxury hotel sector fits this definition perfectly," he said.

Editor's Note:

MBI International and Partners is the global group that combines the companies owned by Arab entrepreneur Mohamed Bin Issa Al Jaber. The group has an asset base worth $3 billion. It employs 9,000 people and operates in Saudi Arabia, the UAE, Egypt, Kuwait and across Europe.

MBI International and Partners comprises three key entities: JJW Hotels and Resorts, which operates in the hospitality industry; AJWA Group for Food Industries, one of the largest agribusinesses in the Middle East; and, Jadawel International, a major real estate development company that owns and operates exclusive luxury residential compounds in the region.

JJW Hotels owns and manages hotels and resorts in Europe, the Middle East and North Africa, with a significant operational presence in France, UK, Portugal, Austria and Egypt.

Mohamed Bin Issa Al Jaber is directly involved in many charitable and educational activities and actively promotes the business and cultural interests of the Arab world. His desire to provide practical assistance to the community led him to offer scholarship programmes to deserving students at some of the world's finest educational institutions. Founding Sponsor of London Middle East Institute at the London based School of African and Oriental Studies, he has also given a generous donation to fund a new building at the Jeddah-based Dar El Hekmah College, an English-language, private sector women's liberal arts college.

This hotel will be known as Median Paris Arc de Triomphe.

Located in the heart of the 17eme arrondissement, within minutes from the Champs Elysees, the 50 room hotel will become the flagship of the Median brand and complement the portfolio which has recently been strengthened with the newly re-branded Median Paris Porte de Versailles and the forthcoming re-opening of Median Paris Saint Lazare. Median Hotels represent the JJW Hotels & Resorts mid-range activity, offering conveniently located, top of the range three star properties with F&B facilities.

Hotel Median Paris Arc de Triomphe is the latest acquisition in JJW Hotels & Resorts 75 strong group which also includes such prestigious properties as the Five Star The Grand Hotel Wien in Austria and the Pinheiros Altos luxury golf resort in Portugal.

Editors' Notes:

JJW Hotels & Resorts is a wholly owned subsidiary of MBI International & Partners, the global entity that combines the companies of Mohamed Bin Issa Al Jaber. MBI International 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.

This five-star deluxe hotel now returns to its original name, the Grand Hotel Wien and will be managed by JJW Hotels & Resorts while maintaining an agreement with ANA Hotels for sales and marketing services.

The hotel is recognised as being amongst the most luxurious in all of Europe and enjoys a prime location in the centre of Vienna on Kärntner Ring, adjacent to Ringstrassen Galerien and a short walk from the Vienna State Opera.

It was first opened in 1870 but closed as a hotel in 1958. In 1994 it was reopened by All Nippon Airways following a complete redevelopment and retaining only its historic façade.

The sumptuous public areas and 205 guest rooms and suites are decorated in classic Viennese style and the property is equipped throughout with state-of-the-art technology.

The Grand is a landmark in the city of Vienna but it is also highly regarded for its fine dining. The Unkai Japanese restaurant is one of the best of its kind in the city and the international gourmet restaurant Le Ciel, on the top floor, is a fashionable Vienna rendez-vouz with a roof garden.

Guests will enjoy a host of modern amenities including an outdoor pool and a fully equipped health spa with massage, steam rooms, sauna and beauty treatments.

Dining options include an all day restaurant as well as a speciality Italian restaurant with snacks and drinks also available from the lobby bar, pool bar and a tea lounge. For the business traveller, there will be 4 meeting rooms catering for groups of 10 to 40 delegates as well as a business centre and a dedicated bar, restaurant and lounge for Executive Club guests.

The sale through Jones Lang LaSalle Hotels, is one of the biggest hotel transactions since September 11.

ANA will sell its ANA Grand Hotel Wien to the JJW group of Saudi Arabia for an estimated 80€ million, The Nihon Keizai Shimbun learned Tuesday, the newspaper reported in its Wednesday morning edition.

The two sides are expected to make the deal official on Wednesday.

The vienna-based hotel, which opened before World War II, is one of the city's most prestigious hotels. The Japanese airline bought the hotel, which had been used as an office building after the war, and reopened it in 1994.

Japanese tourists and business people stay at the hotel when they visit central and east European countries.

ANA announced in may plans to withdraw from overseas hotel operations due to deterioting profitability in the wake of sept 11 terrorist attack.

The JJW which rounds hotels mainly in Europe is expected to change the name to Grand Hotel before taking over operations next month.

This is part of the company's corporate strategy of focusing resources on core operations,"said ANA's Fred Tanaka.

Gains from the sale of ANA Grand Hotel Wien would be funnelled into free cash flow and be used to reduce interest-bearing debts, Tanaka said.

ANA also has plans to sell its ANA Harbour Grand Hotel Sydney in Australia, with talks "in progress" on its sale, he said.

Japan's number two airline said in May it reversed a profit for a 9.5 billion yen ($75.6 billion) net loss in the year leading to March.

It said at the time revenue from its hotel business had dropped 9.6 percent to 75.6 billion yen, with 600 million yen in operating losses.

The airline predicted two billion yen in net profits in the year to March 2003.

The two sides are expected to make the deal official today, it said.

La signature du protocole entre le président de MBI, Sheik Mohamed Bin Issa Al Jaber, et le Député-Maire de Levallois Patrick Balkany a eu lieu aujourd’hui, 30 juin , à 11 h en l’Hôtel de Ville.

Ce projet, dont la surface totale est de 125 000 m2, est l’un des investissements les plus importants des 10 prochaines années dans la banlieue parisienne. Il est situé sur les rives de la Seine et comprendra environ 82 000 m2 de bureaux, un hôtel de luxe de 400 chambres (35 000 m2), dont le propriétaire et gérant est le groupe JJW Hôtels, appartenant au groupe MBI, incluant un restaurant gastronomique, une piscine et un spa et un parking de 6 niveaux pouvant accueillir plus de 1 500 véhicules.

Sheik Mohamed Bin Issa Al Jaber, fondateur et PDG de MBI International : “MBI est spécialisé dans l’immobilier de luxe. Cet investissement vient couronner 20 ans de présence dans le monde français des affaires. Ce ne sera pas notre dernière opération, et nous allons continuer à investir dans le secteur des affaires et du tourisme de ce pays ». Ce projet illustre le potentiel de MBI International et sa capacité à découvrir des biens de qualité dans les secteurs en expansion de la capitale.

Patrick Balkany se félicite de cette entreprise : « Le Sheik Mohamed Bin Issa Al Jaber, homme d’affaire accompli, est considéré aujourd’hui comme un acteur majeur dans les secteurs des affaires et du tourisme français, avec un impressionnant parcours de plus de vingt années jalonnées de succès à travers l’Europe, et nous sommes persuadés que « Les Tours de Levallois » deviendront très vite une réalisation de prestige emblématique dans la région capitale française, qui mettra en valeur les quartiers avoisinants ».

Comme pour tous les nouveaux projets du groupe, les tours, dont l’achèvement est prévu fin 2012, seront construites suivant la démarche Haute qualité Environnementale (HQE) ce qui veut dire moindre consommation d’énergie, recyclabilité accrue et rationalisation de la maintenance. Sa proximité avec Paris présente un grand avantage : Levallois est aujourd’hui l’endroit choisi par plus de 3 500 entreprises phares telles que L’Oréal, Carrefour, Alstom ou BASF. A quelques minutes seulement des Champs Elysées, son emplacement offre une surface de construction impossible à trouver dans Paris Intra-muros : Les Tours de Levallois sont un projet novateur unique au coeur de l’Europe.

Cet accord a été finalisé par le Cabinet Arnaud Claude & Associés et le Cabinet White and Case.

Other attractions in the hotel include top class restaurants offering French, Japanese and Viennese cuisine, two bars, five meeting rooms and one of Vienna's largest hotel ballrooms.

Mr F. Shaibi, Director and member of the executive board for JJW Hotels & Resorts and Mr Y. Nakamachi, Managing Director for ANA finalised the deal on July 31st, 2002. The Chairman and owner of JJW Hotels & Resorts, Mohammed Bin Issa Al Jaber comments:' We are:"we are thrilled to have acquired this substantial and unique property in the heart of Europe".

JJW Hotels & Resorts and ANA Hotels have signed an agreement for the continuation of sales and marketing services for the Grand Hotel Wien through ANA Hotels (ANAH). JJW Hotels & Resorts has also entered into a licence agreement with ANAH to continue to use the highly successful Unkai brand name for the Japanese restaurant, which is one of the most celebrated restaurants of its kind in Vienna.

Commenting on the deal, Nick Marsh, Executive Vice President of Jones Lang LaSalle Hotels said, "The ANA Grand Hotel attracted strong interest from investors and operators, recognising both a re-branding opportunity and the chance to buy a prime piece of Viennese real estate". He continued, "JJW Hotels & Resorts have secured a fantastic foothold in a market with strong prospects while ANAH will maintain an ongoing relationship with the hotel through a marketing alliance".

Other attractions in the hotel include top class restaurants offering French, Japanese and Viennese cuisine, two bars, five meeting rooms and one of Vienna's largest hotel ballrooms.

Mr F. Shaibi, Director and member of the executive board for JJW Hotels & Resorts and Mr Y. Nakamachi, Managing Director for ANA finalised the deal on July 31st, 2002. The Chairman and owner of JJW Hotels & Resorts, Mohammed Bin Issa Al Jaber comments:' We are:"we are thrilled to have acquired this substantial and unique property in the heart of Europe".

JJW Hotels & Resorts and ANA Hotels have signed an agreement for the continuation of sales and marketing services for the Grand Hotel Wien through ANA Hotels (ANAH). JJW Hotels & Resorts has also entered into a licence agreement with ANAH to continue to use the highly successful Unkai brand name for the Japanese restaurant, which is one of the most celebrated restaurants of its kind in Vienna.

Commenting on the deal, Nick Marsh, Executive Vice President of Jones Lang LaSalle Hotels said, "The ANA Grand Hotel attracted strong interest from investors and operators, recognising both a re-branding opportunity and the chance to buy a prime piece of Viennese real estate". He continued, "JJW Hotels & Resorts have secured a fantastic foothold in a market with strong prospects while ANAH will maintain an ongoing relationship with the hotel through a marketing alliance".

K Hotels International is opening an office in Vienna

K Hotels, an international representation company of more than 50 hotels in 16 nations that is based in Los Angeles and JJW Hotels & Resorts, a collection of more than 60 luxury hotels in Europe and the Middle East, will join forces from spring 2010. The joint venture "K Hotels International" will open a sales office in Vienna in order to extend the system of sales and marketing support for the more than 110 hotels involved worldwide. The joint venture is aiming towards an exponential increase in overall sales and a larger outreach on the US and European market. Another strong focus lies on the acquisition of new member hotels that are not yet part of a marketing platform and match the "K Hotels International" portfolio.

"This strong relationship between the two groups will provide various new opportunities and improve the fruitful cooperation between our hotels throughout the world", says the founder and chairman of JJW Hotels & Resorts, Sheikh Mohamed Bin Issa Al Jaber. "K Hotels brings a wealth of experience in sales and marketing especially on the US market and is therefore the perfect addition to our past activities for our properties in Europe and the Middle East."

"We are thrilled and proud to announce this long-term partnership with the exclusive group JJW Hotels & Resorts," emphasizes Michael Palmer, CEO, K Hotels. "The creation of K Hotels International is an important step to increase K Hotels" worldwide presence and create new relationships in Europe and the Middle East."

"This new strategic partnership creates a win-win situation for both groups," states Karim Jalloul, Austrian Representative of Sheikh Al Jaber and Managing Director of JJW Hotels & Resorts Austria and Eastern Europe. "Tourism is a worldwide business and with the exchange of our know-how and our respective advantages in the European and the US market, we will create a strong and worldwide network with mutual benefits for the more than 110 hotels."

Find further information on www.k-hotels.com and www.jjwhotels.com.

MBI International and Partners

MBI International and Partners is the global group that combines the companies owned by Arab entrepreneur Mohamed Bin Issa Al Jaber.

MBI International and Partners

MBI International and Partners is the global group that combines the companies owned by Arab entrepreneur Mohamed Bin Issa Al Jaber.

The 205 luxurious and technically state-of-the-art rooms and suites combine modern amenities with old-world charm, making it the perfect destination for luminaries such as José Carreras, the Dalai Lama, Cindy Crawford, Sir Paul McCartney, Mikhail Gorbachev and Bono, just to name a few. The Grand Hotel Wien offers three gourmet restaurants and two bars and has a direct entrance to the exclusive shopping mall Ringstraßen Galerien.
“We are honored to welcome the Grand Hotel Wien as a member of K Hotels,” said Lara Weiss, Managing Director of K Hotels. “We strive to work with the world’s most unique and interesting hotels, properties and all of them have a story to tell. The Grand Hotel Wien is no exception; this historic hotel has a long wonderful story as part of Austrian history and yet is still able to cater to modern travelers. This is one of the reasons we are so pleased to now have The Grand Wien Hotel as a part of our luxury collection. The Grand Wien is significant in that the hotel allows K Hotels to add to our luxury five-star collection with one of the best in the industry. This is one more reason why our clients choose K Hotels. We provide them the desired experience rather than merely an experience according to rank or brand. With the addition of Grand Hotel Wien, we increase our ability to offer our clients a world-class experience.”

“We are very much looking forward to this new partnership and the business opportunities it will open up for us,” stated Carl Peter Echtermeijer, Assistant General Manager of the Grand Hotel Wien. “We are positive that K Hotels will be the perfect partner to reinforce our sales and marketing activities, especially in the US and Canada.”
The Grand Hotel Wien will receive sales and marketing representation from K Hotels, effective immediately. For more information on the Grand Hotel Wien, please visit http://www.grandhotelwien.com/. For more information on K Hotels, around the world locations and services, please visit http://www.k-hotels.com .

ABOUT K HOTELS
K Hotels, the voice of knowledge for independent hotels, is an international representation company that provides expert knowledge for its more than 50 member properties worldwide. Each member of K Hotels is unique and incredibly special, with its own individual story. K Hotels has taken on the responsibility to let the world know about these stories and create opportunities for world travelers to know these properties and important information that may otherwise might be overlooked. K Hotels consistently sets the industry standard in travel knowledge, both for its member properties and in the hospitality world at large. For more information about K Hotels and their member hotels, please visit http://www.k-hotels.com/ .

MBI International and Partners

MBI International and Partners is the global group that combines the companies owned by Arab entrepreneur Mohamed Bin Issa Al Jaber.

The Ring, Vienna’s Casual Luxury Hotel will receive sales and marketing representation from K Hotels effective immediately. K Hotels offers hospitality expertise to more than 60 properties around the globe. For more information on the Ring Hotel Vienna, please visit http://www.theringhotel.com. For more information on K Hotels, around the world locations and services, please visit http://www.k-hotels.com.

MBI International and Partners

MBI International and Partners is the global group that combines the companies owned by Arab entrepreneur Mohamed Bin Issa Al Jaber.

Opening of first Kneissl Star Lounge in September

Luxury class holiday – the Kneissl Star Resorts