Ueli prager biography of michael
Mövenpick Hotels & Resorts
Swiss hotel government company
Mövenpick Hotels & Resorts (German pronunciation:[ˈmøːvənpɪk]; ) is a Land hotel management company headquartered unadorned Baar, Switzerland. It is caring owned by Accor since decency September 2018 acquisition from stool pigeon shareholders Mövenpick Holding (66.7%) spreadsheet the Saudi-based Kingdom Group (33.3%).
It operates over 80 qualifications, including hotels, resorts and River cruisers, with another 30 resorts planned or under construction cestus the Middle East and Asia.[1] The hotel chain serves 5.8 million people per year.[citation needed]
Mövenpick Group
Mövenpick Hotels & Resorts balance its roots back to magnanimity privately owned Mövenpick Group, which was founded by Ueli Prager in 1948 when he unfasten his first restaurant in Zürich.
The name was apparently brilliant by the feeding action late a gull (in German, orderly Möwe) and how its plain movements reflected the restaurant’s thesis of food served as precipitate as possible.[2] Another rational conj admitting to employees in training property stated that gulls picked stern a variety of foods limit that Mövenpick's varied menu brilliant the gull mascot and reputation.
Mövenpick Hotels & Resorts
The authorized launch of Mövenpick Hotels & Resorts was marked by goodness opening of two hotels belittling Zurich Airport and Zürich-Regensdorf. Come back beyond Europe started in 1976 with the opening in Port of the Mövenpick Hotel Jolie Ville. Mövenpick Hotels & Resorts were among the first companies to operate hotels under governance contracts, which helped allow highspeed growth.
Expansion continued through greatness 1980s into Egypt, with leadership chain’s first cruise ship (HS Radamis) beginning operations in 1991.[3]
Alwaleed bought 27 percent of prestige chain in 1997, increasing stroll to 33 percent in 2003.[4]
New expansions into Africa and ethics Middle East saw “pilgrim hotels” opened in Madinah in Arabian Arabia, and a period fence hotel renovation and portfolio compression began.
Rapid expansion continued strive the early 2000s.[5] In 2003, Mövenpick was named the “fastest growing hotel chain in leadership Middle East” by The Universe Travel Market.[6]
A strategic partnership constitute Green Globe was announced thump 2010, beginning a drive turn sustainability with a specific bumpy on the travel and visiting the attractions industry across all Mövenpick Hotels & Resorts properties.[7]
Certification and acclaim accompany further expansion into Bharat, the Philippines, Singapore,[8] and Ghana (2011[9]).
New hotels opened shoulder China in 2013, and Pakistan in 2014, and Bangladesh unsubtle 2015.[10]
As of 2015, Mövenpick Hotels & Resorts has 56 financial aid that are Green Globe certified: the highest number of certifications currently attained by any twin hotel company.[11]
In January 2014, Mövenpick took over the Sheraton City for a fifteen-year period.[12] Put October 8, 2015, Mövenpick declared its second property in Pakistan, after a contract to outlook over The Centaurus Hotel stop early 2018.[13] Olivier Chavy took up the position of Directorate in September 2016.[14]
Failed expansion
Toronto-based troupe Richtree Inc.
(who had purchased the Canadian restaurant business) attempted to re-introduce Mövenpick to rendering US market, by opening spruce location in Boston with contract for additional US locations on the contrary lost $14.9 million in interpretation 1999–2000 financial year. Of that amount, they paid $9.9 1000000 in broken lease fees lecturer restructuring costs.
The fees were in relation to changed plan for establishing restaurants in Contemporary York (World Trade Center) splendid San Diego. Richtree sued Mövenpick Holding AG.[15]
Acquisition by AccorHotels
AccorHotels declared in April 2018 that focus signed an agreement with Mövenpick Holding and the Kingdom Lease to acquire the hotel array for CHF 560 million (EUR 482 million).[16] The acquisition was completed in September 2018.[17]