Kempinski Hotels and Majid Al Futtaim to end management agreement for Kempinski Grand & Ixir Hotel in Bahrain

Dubai: Kempinski Hotels and Majid Al Futtaim today announced that they have reached an amicable, mutual agreement to end the hotel management agreement for the Kempinski Grand & Ixir Hotel Bahrain City Centre in Manama on 24 March, 2014.

Kempinski Hotels has been managing the property successfully since September 2011, and will continue to manage the hotel to the group's usual high standards right up until midnight on 30 June, 2014, when it will formally hand over the property to Majid Al Futtaim.

George Kostas, CEO, Majid Al Futtaim – Properties, said: “Our studies of the changing market requirements informed our decision to adopt a two distinct brand strategy for the two-tower hotel in Manama. We believe the new strategy is better aligned with the product and the market demand, and will maximise the yield of the two towers. We will announce the new brands in due course.”

Reto Wittwer, President and CEO of Kempinski Hotels, said: "While we regret the end of the management agreement for the Kempinski Grand & Ixir Hotel Bahrain City Centre, we are pleased that Kempinski continues to enjoy an excellent relationship with Majid Al Futtaim, for whom we continue to manage the award-winning Kempinski Hotel Mall of the Emirates in Dubai, U.A.E."