Corinthia Hotels is extending its presence in Libya with the addition of residential apartments, which aim to cater for the growing number of international businesses setting up offices in the capital city, Tripoli.
The hotel group currently operates the only international hotel in the city, Corinthia Bab Africa, which offers the largest meetings and conference facilities in Tripoli (lobby pictured above).
However, Corinthia feels there is a huge demand for longer-stay residential accommodation to provide for those based in the city for longer periods of time, as the American Embassy, for example, currently occupies 40 of the hotel”s 300 rooms on a permanent basis.
Talking to ABTN, director of sales and marketing, Christine Parnis, explained the need to expand international services: ”The Bab Africa is the centre for all business activities, with any high-powered meetings and deals taking place at our hotel.
”People do not tend to leave the city until they”ve signed the contract, which often means they stay for longer periods than they expected. We are always jam packed and 65% of our customers are return guests.”
One important business development could well take place later on this year, Parnis said, as a major financial conference in June may change the way banks operate in Libya and bring an influx of international branches into the city, increasing the need for mid- to long-term accommodation.
Under the current system no international banks are allowed to trade in the country, with institutions such as HSBC operating ”representation” offices without the power to carry out transactions.
”These banks are waiting around for the law to change so they can begin operating,” said Parnis, adding: ”Everybody wants to get in and the hearsay is that the June conference will bring about an announcement that the law is changing.”
To cater for the predicted wave of new business coming to the capital, Corinthia will open the first units of its 408-apartment Palm City residential offering in mid-2008, with completion set for the end of the year. A central piazza will include amenities such as a supermarket, a laundry, medical centre and health and fitness club.