Fairmont Hotels & Resorts has said it plans to add 14 hotels to its portfolio by 2014, as part of its expansion plans in the Middle East and North Africa.
The Makkah Clock Royal Tower will open this year in Saudi Arabia.
The company has four new hotels planned for the UAE, two of those in Abu Dhabi, while projects in Cairo and Morocco are under development.
The hotelier will also add hotels in Qatar, and new developments under the Raffles and Swissotel brands will also increase.
Fairmont Raffles said it will sell 40% capital stake to Qatari Diar as part of an $847m deal to fund the firm’s global expansion, according to hoteliermiddleeast.com.
Saudi investment firm Kingdom Holding holds 95% stake in Fairmont Raffles.