CORP Executive Hotels secured a new agreement today to manage CORP City Centre Riyadh - an outstanding property in KSA. Due for completion in July 2009, the 86-keys hotel is strategically located in the commercial hub of Riyadh. Mr Nasser Al Subeaei, owner of CORP City Centre Riyadh said, 'Saudi Arabia is being built for business and we are confident that the CORP Executive Hotel will offer unique advantages to corporate travellers visiting the country.

Despite the economic downturn, the potential of business travel segment continues to be quite exciting and challenging in the region. Michel Noblet,

CEO, HMH - Hospitality Management Holdings said, 'We see it as a terrific opportunity.Saudi Arabia has been making bold moves in terms of development as Business tourism is an emerging sector in the region's hospitality industry. This has led to massive economic activity attracting investors and professionals in large numbers to cities like Riyadh. It has naturally pushed up the demand for quality hotels. CORP City Centre Riyadh will cater to the stringent quality and standards expected by international travellers. Our intention is to offer intelligent value for money with no compromise on comfort and service.'

Corp Executive Hotels has been increasingly active in recent months and has concluded plans for extensive development in the Middle East. Michel said, 'As part of the group's long-term strategy, we are exploring multiple business opportunities and have some exciting projects lined up for Corp across the GCC. We have abundant opportunities however finding suitable projects is not always easy. The new agreements will help to expedite the development process.'

Michel is confident that the group's plans can weather the global economic storm. 'The current economic crisis raises new challenges for our objectives but we are not scaling back our goals. Our strategy doesn't change in a market environment like this. Some parts of the world little has changed. A vision for the future and ability to think long-term stand the best chance to riding out the storm,' he reckons.

With an objective to command the top table of the business travel sector, Corp offers state-of-the-art facilities and latest technology. Michel said, 'Our hotels cater to the demand of corporate clientele. These are people looking for efficiency and quality at affordable rates. We want to be a hotel of choice for business travellers.'