Crowne Plaza Muscat will undergo a renovation project that will include the Port Cochere, lobby, entrance, reception area, all-day dining restaurant and the swimming pool, the Gulf Hotels informed the Muscat Securities Market recently.
“The main renovation project is expected to be completed by August 31, 2018 and the hotel will be closed for about three months to facilitate the main construction works,” the statement said.
The main renovation contract is awarded to Douglas OHI for RO2,050 million, with the contract work to commence from May 15, subject to necessary regulatory approvals
The total estimated cost equipment and furniture will be around RO1.45 million.
Around RO3.5 million will be raised through a term loan from the bank while RO2.50 million and RO1million will raised from internal accruals and surplus funds of the company.
The hotel will benefit from the renovation in the long term, the statement said.