New strategic partnership formed between Le Meridien Hotels & Resorts and Saudi-based MBI International & Partners

A new strategic partnership has been formed between Le Meridien Hotels & Resorts and Saudi-based MBI International & Partners, with initial plans for a luxury hotel, spa and leisure resort at Pinheiros Altos in Portugal – scheduled to open as Le Meridien Royal Algarve in early 2004.

According to MBI chairman, Sheikh Mohamed Bin Issa Al Jaber and CEO of Le Meridien, Juergen Bartels, the far-reaching agreement also includes provision for the hotel group to take over management of a luxury villa hotel currently under refurbishment in Al Khobar, Saudi Arabia.

In the Algarve, MBI International’s wholly owned subsidiary JJW Hotels and Resorts and Pinheiros Altos Group will acquire the Le Meridien Dona Filipa Hotel in Vale do Lobo, along with the renowned San Lorenzo course Quinta do Lago. 

And, in addition to awarding Le Meridien the management contract for this resort, MBI International has made a unilateral promise to acquire Le Meridien Penina and its two golf courses – the group continues to manage both the Dona Filipa and Penina hotels while the San Lorenzo golf courses and Penina’s 36 holes are to be managed by the Pinheiros Altos Group.

Featuring a magnificent championship golf course, Pinheiros Altos is a world class development situated on the border of the Ria Formosa nature reserve on the edge of the Atlantic Ocean in the south of Portugal.

The new €80 million Le Meridien Royal Algarve at Pinheiros Altos is anticipated to be one of the finest and most sophisticated hotels in Europe, boating 144 luxury suites and 38 apartments, as well as a health spa, conference facilities, two restaurants, two swimming pools, first–class tennis and sports training facilities.

Following 15 years of experience and development in Portugal, Al Jaber is looking to extend his business interests with plans for an additional 18-hole golf course at Pinheiros Altos and another two 18-hole golf courses, a 9-hole academy course and hotel at a new private development in nearby Silves.

Said Juergen Bartels: “We are extremely proud to add Le Meridien Royal Algarve to our portfolio of luxury resorts.

“And most importantly, this agreement signifies what we see as mutually-rewarding long term partnership with Sheikh Mohamed and his group, MBI.”

In response, Sheikh Mohamed said he was delighted that the hotel in Pinheiros Altos would have Le Meridien branding, and anticipated a mutually beneficial venture between the two groups.

“With our acquisition of Le Meridien Dona Filipa and San Lorenzo golf course, and the promise we have made to acquire the Penina Hotel and its golf courses, JJW Hotels and Resorts and Pinheiros Altos are moving into a new era,” he said. “We look forward to continuing to develop luxury resorts and playing a major role together with Le Meridien in continuing to promote the Algarve and Portugal as a major worldwide leisure destination.”

MBI International and Partners is the global entity that combines the companies of Sheikh Mohamed Bin Issa Al Jaber 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.

As a further extension of the group’s interests in the hotel and resort sector, Al Jaber is also a significant strategic partner and shareholder of the KHI Group, an active investor in the hospitality sector with interests in several hotel groups.