Millennium in key alliance
Millennium & Copthorne Hotels Plc and Maritim Hotels have entered into an agreement to form a global strategic marketing alliance.The alliance will result in a combined portfolio of 128 hotels with almost 35,000 rooms in Europe, the US and Asia. With the pooling of resources, the strategic alliance provides Maritim, a chain dominant in Germany and Millennium with immediate penetration into each partner's geographic regions without extensive capital investments. From Millennium's presence in Europe, the US and Asia, Maritim gets an instant exposure to international markets while Millennium in turn gains strong foothold in the important German market. Meanwhile, Maritim has signed a management contract for a 440 room congress and conference hotel in Cairo - Heliopolis. Maritim will take over the management of the hotel from January next year.