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Mövenpick Hotels & Resorts

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Mövenpick Hotels & Resorts
Company typeSubsidiary
IndustryHospitality, Tourism
FoundedZürich, Switzerland (1973)
FounderUeli Prager
Headquarters
Baar
,
Switzerland
Number of locations
83 hotels
Area served
Europe, Africa, Middle East and Asia
ProductsBusiness/Leisure Hotels, Resorts
Number of employees
>16,000
ParentAccor
Websitewww.movenpick.com/en/ Edit this at Wikidata


Mövenpick Hotels & Resorts (German pronunciation: [ˈmøːvənpɪk]; English: /ˈmuːvənˌpɪk/) is a Swiss hotel management company headquartered in Baar, Switzerland. It is fully owned by Accor since the September 2018 acquisition from former shareholders Mövenpick Holding (66.7%) and the Saudi-based Kingdom Group (33.3%). It operates over 80 properties, including hotels, resorts and Nile cruisers, with another 30 resorts planned or under construction across the Middle East and Asia.[1] The hotel chain serves 5.8 million people per year.[citation needed]

  1. REDIRECT Riyadh

Mövenpick Group

Mövenpick Ambassador Hotel Accra, Ghana

Mövenpick Hotels & Resorts traces its roots back to the privately owned Mövenpick Group, which was founded by Ueli Prager in 1948 when he opened his first restaurant in Zürich. The name was apparently inspired by the feeding action of a gull (in German, a Möwe) and how its simple movements reflected the restaurant’s theme of food served as quickly as possible.[2]

Mövenpick Hotels & Resorts

The official launch of Mövenpick Hotels & Resorts was marked by the opening of two hotels at Zurich Airport and Zürich-Regensdorf. Expansion beyond Europe started in 1976 with the opening in Cairo of the Mövenpick Hotel Jolie Ville. Mövenpick Hotels & Resorts were among the first companies to operate hotels under management contracts, which helped allow rapid growth. Expansion continued through the 1980s into Egypt, with the chain’s first cruise ship (HS Radamis) beginning operations in 1991.[3]

Alwaleed bought 27 percent of the chain in 1997, increasing that to 33 percent in 2003.[4]

New expansions into Africa and the Middle East saw “pilgrim hotels” opened in Madinah in Saudi Arabia, and a period of hotel renovation and portfolio consolidation began. Rapid expansion continued through the early 2000s.[5] In 2003, Mövenpick was named the “fastest growing hotel chain in the Middle East” by The World Travel Market.[6]

A strategic partnership with Green Globe was announced in 2010, beginning a drive towards sustainability with a specific focus on the travel and tourism industry across all Mövenpick Hotels & Resorts properties.[7]

Movenpick Dead Sea Spa and Resort in Jordan

Certification and awards accompany further expansion into India, the Philippines, Singapore,[8] and Ghana (2011[9]). New hotels opened in China in 2013, and Pakistan in 2014, and Bangladesh in 2015.[10]

As of 2015, Mövenpick Hotels & Resorts has 56 properties that are Green Globe certified: the highest number of certifications currently attained by any one hotel company.[11]

In January 2014, Mövenpick took over the Sheraton Karachi for a fifteen-year period.[12] On October 8, 2015, Mövenpick announced its second property in Pakistan, after a contract to take over The Centaurus Hotel by early 2018.[13] Olivier Chavy took up the position of CEO in September 2016.[14]

Mövenpick Hotel Karachi

Failed expansion

Toronto-based company Richtree Inc. attempted to introduce Mövenpick to the American market, but lost $14.9 million in the 1999–2000 financial year. Of this amount, they paid $9.9 million in broken lease fees and restructuring costs. The fees were in relation to changed plans for establishing restaurants in New York and San Diego. Richtree sued Mövenpick Holding AG.[15]

Acquisition by AccorHotels

AccorHotels announced in April 2018 that it signed an agreement with Mövenpick Holding and the Kingdom Holding to acquire the hotel group for CHF 560 million (EUR 482 million).[16] The acquisition was completed in September 2018.[17]

See also

References

  1. ^ "Olivier Chavy wird neuer CEO bei Mövenpick" [Olivier Chavy becomes new CEO at Mövenpick]. Allgemeine Hotel- und Gastronomie-Zeitung (in German). 4 August 2016. Retrieved 3 October 2016.
  2. ^ "Who's who listing".
  3. ^ "Bird, bard inspired businessman". Archived from the original on 2016-05-05. Retrieved 2016-10-04.
  4. ^ Khan, Riz (2005). Alwaleed, Businessman Billionaire Prince. New York: HarperCollins. p. 143. ISBN 9780060850302.
  5. ^ "Mövenpick to open new five-star hotel in Madinah, Saudi Arabia. ~ Saturday, 5th October 2002 from 4Hoteliers". Archived from the original on 2016-10-05. Retrieved 2016-10-04.
  6. ^ "Mövenpick Hotels & Resorts awarded 'Fastest Growing Hotel Chain in the Middle East'". Hospitality Net. 19 November 2003. Retrieved 3 October 2016.
  7. ^ "Mövenpick Hotels and Resorts signs Green Globe Certification partnership - Green Globe". greenglobe.com.
  8. ^ "Ritz-Carlton ranked highest in luxury brand segment". 26 July 2012.
  9. ^ Giado, Imthishan. "Moevenpick opens first hotel in Ghana – HotelierMiddleEast.com".
  10. ^ "Mövenpick Hotels & Resorts signs agreements to manage hotels in Bangladesh". 28 May 2012.
  11. ^ "Mövenpick Hotels & Resorts named a 'global leader' in sustainable practices by Green Globe". greenglobe.com.
  12. ^ "FDI: Movenpick to invest $30m in Pakistan - The Express Tribune". The Express Tribune. 2014-02-07. Retrieved 2017-03-03.
  13. ^ "Federal capital to have Movenpick Hotel". thenews.com.pk. Retrieved 2017-03-03.
  14. ^ "Mövenpick Hotels & Resorts Names Olivier Chavy CEO". Hotel Business. 4 August 2016. Archived from the original on 2016-10-05. Retrieved 3 October 2016.
  15. ^ Laidlaw, Stuart (15 December 2000). "Movenpick franchisee planning second assault on U.S. market". Toronto Star. p. BU01.
  16. ^ "AccorHotels acquires Mövenpick Hotels & Resorts".
  17. ^ "AccorHotels completes acquisition of Mövenpick Hotels & Resorts". accorhotels.group. Retrieved 2019-01-01.
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