Iraq Oil Report's Daily Brief compiles the most important news and analysis about Iraq from around the web.

Movenpick to open new hotel in Basra

Sarah Townsend reports for The National:

Movenpick Hotels & Resorts will open a new hotel in Basra in the first quarter of this year as it seeks to capitalise on the city’s status as Iraq’s economic capital.

“Basra is one of the Middle East’s fastest-growing economic centres, a major oil producer that is undergoing rapid infrastructure development,” said Olivier Chavy, president and chief executive of the Swiss hospitality group.

“Our upcoming property will cater to pent-up demand from the corporate sector, which contributes around 90 per cent of hotel demand in Basra due to the high volume of oil and gas and shipping companies based in this booming region of Iraq.”

Click here for the entire story