Kingdom Hotel Investments (KHI) opened its five star Four Seasons hotel in Beirut on Sunday. KHI has a controlling 38 percent stake in the 230 room hotel, which is expected to cost US$146 million (Dh536.25m). Beirut’s hotel industry has been growing quickly from depressed levels as the capital has become more politically stable.
Hotel occupancy levels were 71.2 percent for the 11 months ending in November of last year, up from 33 percent for the same period last year according to data from STR Global. Revenue per available room (RevPar) increased by 73.8 percent to $143.84 in November. KHI chief executive said “Beirut has enjoyed a resurgence in travel.”
