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Snoozebox Holdings PLC  -  ZZZ   

Snoozebox enters the Gulf

Released 07:00 20-Nov-2015

RNS Number : 4030G
Snoozebox Holdings PLC
20 November 2015
 

SNOOZEBOX HOLDINGS PLC

 

Snoozebox enters the Gulf

 

Snoozebox Holdings plc (AIM: ZZZ) today announces that it is entering the Gulf region through a strategic partnership signed with the Dutco Group.

 

The partnership is exploring a range of opportunities across the Gulf Cooperation Council region*, both within the events and semi-permanent markets.

 

Snoozebox expects demand for its diverse and flexible accommodation solutions to be driven by the strong calendar of forthcoming major events, such as Dubai Expo 2020 and World Cup Qatar 2022, in addition to the continuing high levels of infrastructure investment in the region.

 

The Dutco Group was formed in 1947 in Dubai and since then it has expanded its interests into heavy civil engineering, construction, electrical, oil and gas services and communications. Dutco is a respected market leader in the region. 

 

Lorcán Ó Murchú, Chief Executive at Snoozebox, said "This strategic partnership represents another step in the development of the business and we see numerous exciting opportunities in the region. The unique Snoozebox offering is ideally suited to the Gulf's landscape. Dutco Group is a very high calibre partner and we look forward to working together."

 

Jason Peers, Chief Investment Officer at Dutco Group, said "We see Snoozebox's strong brand and differentiated offering as an excellent complement to our existing Dutco portfolio and we are delighted to be bringing the Snoozebox concept to the region."

 

*Comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

 

Ends

 

20 November 2015

 

Enquiries

 

Panmure Gordon                                020 7886 2500

Corporate Finance:

Fred Walsh

Duncan Monteith

 

Corporate Broking:

Charles Leigh-Pemberton

 

Tulchan Communications                  020 7353 4200

Tom Murray


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Snoozebox enters the Gulf - RNS