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Iranian hotel group discards plan to build new branch (exclusive)

Business Materials 23 August 2017 11:27 (UTC +04:00)

Tehran, Iran, August 23

By Mehdi Sepahvand –- Trend:

Tehran Grand Hotels Group has discarded a previous decision to build a new branch in the Iranian capital city, despite growing need for more tourist facilities in the post-nuclear deal Iran.

Farman Ghafarian currently owns Tehran Grand Hotels One and Two. In 2014, he had said he planned to build a third building.

"We already have a shortage in Tehran…. Now it's motivating us to build a third branch because for sure we are anticipating much demand in the tourism market,” he had told CNN then.

But now, the management of the group told Trend that the plan has been discarded for certain reasons, without further details.

Iran has seen a growing wave of incoming tourists, ever since its government struck the deal with world powers in 2015, which was aimed at reintegration of the Iranian and global markets.

Tourists are rushing to visit Iran after the country mended its diplomatic ties with the world, which brought about the need for new hotels and huge investments in this sector.

Masoud Hasrati, a businessman in the construction industry recently told Trend that Iran is in need of about 1,500 hotels, and that the new government's approach is to attract tourists.

Nevertheless, Iran’s health tourism is also growing. In early August, Ali Rabiee, the minister of cooperatives, labor and social welfare said that the country has a potential to earn $7 billion in revenues through attracting one million health tourists on a yearly basis.

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