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The Buzz

Business briefing: 8 Oct 2013

by Executive Staff October 8, 2013
written by Executive Staff

Economics and Policy

Cairo is hoping to start announcing details of its investment programme for this fiscal year later this month and Gulf Arab countries have agreed to provide additional financial support, a senior minister said.

More from Reuters

 

Lebanon's automotive sector is doing surprisingly well in the current economic environment, up 4.33 percent in the first eight months of the year on 2012, and in comparative terms, above the GDP forecast of 1.6 percent for 2013.

More from The Daily Star

 

GCC markets are expected to show robust economic growth over the medium term due to economic diversification of their local economies, according to an Ernst and Young (EY) forecast.

More from Gulf Business

 

Companies and Business

Nakheel World LLC, a subsidiary of Dubai World, today agreed to repay almost AED95m ($25.8m) to a private developer which bought a piece of land from it in Dubai in 2008.

More from Arabian Business

October 8, 2013 0 comments
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Comment

A date with the great Satan

by Gareth Smith October 8, 2013
written by Gareth Smith

The phone call between Barack Obama and Hassan Rouhani at the United Nations, the first direct contact between presidents of Iran and the United States in three decades, signals the seizing of a chance to advance relations between the two countries and potentially open up debate over Iran’s nuclear program and US sanctions.

The earlier agreement between the US and Russia over Syria’s chemical arsenal had given Obama the opportunity to reach out to Iran while making it clear Washington regards Iran’s nuclear program as a far more serious potential threat.

The arrival of Hassan Rouhani as president has brought a shift in Iran’s policy towards Syria as well as the US. New foreign minister Mohammad Javad Zarif spoke last month of “grave mistakes” made by the Assad regime that had “unfortunately, paved the way for the situation in the country to be abused.” Former president Akbar Hashemi Rafsanjani directly accused Assad’s forces of using chemical weapons.

Dialogue between Washington and Tehran has two related tracks, the search for a settlement ending the war in Syria, and Iran’s nuclear program. Each needs face-to-face bilateral contact as well as respectively the Geneva-2 conference, scheduled for July and postponed by the US, and the P5+1, the permanent members of the Security Council plus Germany, which has been in nuclear talks with Iran for seven years without significant progress.

The hope for Syria is that both sides realize war is less in their interests than calming the regional Shia-Sunni tension it is enflaming. Wiser counsels in Washington know the road to 9-11 began in the US-Saudi intelligence co-operation and support for militants in Afghanistan in the 1980s.

In Iran, pragmatists argued within months of Mahmoud Ahmadinejad’s arrival in office in 2005 that his assertive Shi’ism would alarm the Sunni Arab establishment just as surely as his questioning of the Holocaust would alienate the US and Europe. Neither, they said, served Iran’s national interests.

Shortly after his election, Rouhani said diplomacy with Saudi Arabia was an urgent priority but the sheer speed of his reaching out to Washington is a surprise.

Improving US-Iranian relations faces a challenge in reviewing grievances. Americans still resent the 1979 embassy seizure and the 1983 bombing that killed 241 in the Beirut airport marine barracks, possibly the work of an Iranian national. A BBC poll earlier this year found 87 percent of Americans viewed Iranian influence negatively, the highest percentage in the world.

Iranian state television often shows images of the floating wreckage of Iran Air flight 655, shot down in 1988 over the Straits of Hormuz by USS Vincennes, with the loss of 290 lives. Rallies regularly evoke Ayatollah Ruhollah Khomeini’s denigration of the US as the ‘Great Satan’.

Rouhani is buoyed by his election victory but knows his fundamentalist critics in Tehran are waiting to pounce. His leeway to reach a compromise is real, but limited. In describing talks with the US Ayatollah Ali Khamenei, the rahbar (leader), expressed the balance between backing negotiations while remaining skeptical of Washington’s motives and intentions.

Arguably the outlines of agreements on both Syria and Iran’s nuclear program have long been evident. A former senior western diplomat told me earlier in the year that world and regional powers should agree that while the Shia would lead Iraq, with minority rights, the Sunni would lead Syria, also with minority rights.

Western desire for ‘objective guarantees’ over the peaceful nature of Iran’s nuclear program might be satisfied by a deal under which Iran would accept intrusive UN inspections and limit the program in scale and in the level of uranium enrichment. The quid pro quo would be easing sanctions that have, among other things, halved Iran’s oil exports and prevented development of its vast gas reserves. Iran has a vaguer requirement: that the US accepts its regional influence as natural and legitimate.

The obstacles are political. As Sayegh Kharrazi, Iran’s former ambassador, put it to me seven years ago: “On both sides, neoconservatives are strong. But neoconservatives cannot make decisions for everyone.”

As ever, the devil is in the details, but the details are discussed only if there is a broader will for agreement. That is the responsibility of leaders.
Gareth Smyth is the former chief Tehran correspondent of the Financial Times

October 8, 2013 0 comments
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The Buzz

Business briefing: 7 Oct 2013

by Executive Staff October 7, 2013
written by Executive Staff

Economics and Policy

The International Monetary Fund (IMF) has increased its forecast economic growth for the GCC to 4.4 percent in 2014.

More from Arabian Business

 

Some 2,000 jobless Moroccans have marched through the capital demanding the government sort out the nation's unemployment.

More from Associated Press
 

Kuwait believes an oil price of $100-$110 a barrel is fair for producers and consumers, the Gulf OPEC state's oil minister has said.

More from Reuters

 

Syrian President Bashar al-Assad's regime deserves credit for complying with a chemical weapons deal, US Secretary of State John Kerry has said.

More from BBC

 

Companies and Business

Saudi Arabia's Almarai reported a 5.7 percent rise in third-quarter net profit on Sunday, missing analysts' estimates despite what the company described as "the strong performance of core dairy and juice categories".

More from Reuters

 

Riyad Bank, Saudi Arabia’s third-largest lender by market value, posted a 18.8 per cent rise in its third-quarter net profit on Monday due to higher operating income and lower expenses.

More from Reuters

October 7, 2013 0 comments
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Business

Reimagining global journalism

by Livia Murray October 7, 2013
written by Livia Murray

Company: Transterra Media

Country: Lebanon

Industry: News

Founders: Jonathan Giesen, Eli Andrews

Ages: 41, 39

Established in: Sept 2012

Number of Employees: 17

Revenues: ½ million

Capital raised: 1.3 million

Awards: Red Herring Top 100 Asia 2013

 

“Two years ago it was like journalism was killed,” says Transterra Media CEO and co-founder Jonathan Giesen, referring to the flood of citizen journalism with the rise of social media that shadowed the Arab Spring. This appeared, Giesen says, as the final deadly blow to the media industry, which had been struggling since the 2008 recession slashed advertising prices, its main form of revenue.

But citizen journalism has not replaced old school reporting. Without a screening process to make sense of the world of online content, it has become at times chaotic. Transterra Media recognized this with the launch of their Beta website in Cairo, three days before the Egyptian revolution. The platform created a network where journalists could upload content that would be reviewed and purchased by broadcasters. “It was completely flooded with citizen journalism, activists, and it was really difficult to sort through the entire morass of content,” says Giesen. “We learned that the open-place market where you just load up photos, load up videos, load up stories, and or pitch stories doesn’t really work,” he says Giesen. Despite the supply of citizen journalism, he explains, the media industry is still driven by the broadcaster’s demand for quality coverage.

Giesen has won a number of awards

 

“The journalism world is still trying to find cheaper ways of getting better and better content from the ends of the earth,” says Giesen. “It’s too expensive to send your correspondent to Syria. It’s too dangerous. If you pick up the wires you’re going to get the exact same coverage that everybody is getting because they’re just sending out one major stream. So the idea is to get custom or tailored footage specific to your broadcasting.”

Transterra Media has since re-vamped and launched as a Lebanese company in September 2012. They have switched to an ‘on-demand’ model, where the broadcaster’s demand drive content specifications. “So for instance CNN or al Arabiyya or al-Jazeera – any one of the main international newspapers will say 'listen, we need footage from Syria. We need a 4 minute news package to broadcast on Saturday from Syria on X topic.” They currently have 236 news companies on their website, with premium buyers purchasing fifteen to twenty five stories per month. The company has so far made half a million in revenues, through a commission of thirty percent off each article.

Journalists must go through a screening or “vetting” process to be plugged into the network. This is a two-step process. “First, we have to get all your information in terms of your skypes, your emails, your twitters, we need to know if you’re a photo journalist, if you’re a video journalist, can you do piece-to-camera, can you get in front of a camera and actually put together a live broadcast… all of the different aspects a journalist could possible do,” says Giesen.

“And then we go through what is called second-level vetting, which is looking at it from a production standpoint so if you’re a video producer what are you shooting on, how can you shoot it, who have you sold to in the past, where did you get published, can you put together a 4-minute news package, can you put together a feature story… we need to know everything about what your capabilities are as a journalist.”

So far they have a network of 1700 journalists in 123 countries, and their goal is to keep building and diversifying their contacts. “We try to get as broad of a territorial reach,” says Giesen. In Syria for instance “we’ve got guys in Aleppo, we’ve got guys in Itlib, Ar-Raqqah, Deir ez-Zor, Damascus. We’re trying to get people in Daraa.”

To speed up communication between the broadcasters and the journalists, they are building an app to be incorporated into the network. This app will enable broadcasters to track the vetted journalists, and pull up their qualifications. “If a bomb goes off and you’re in the area, we know exactly what you can do, if you can provide historical context,” says Giesen. The app would also let broadcasters pair journalists with different skill sets together. “What we’re trying to do is build a network of people that can share resources, share stories, take assignments, change assignments as they are, pitch stories from the field, and then one of the big things is to go piece-and-camera or the liveshot,” he says.

Transterra media is growing with 75 new journalists joining the network every week, according to Giesen. But there are limits to the global news industry. “The conundrum in the industry is that there are only – let’s say there are only 800 really top-level buyers, news outlets that can use our material. There’s a limit. Even if you’re talking about professional journalists there’s only about between five and ten thousand,” says Giesen. “In order to expand our content base we’re gonna have to start finding new ways… either working with social media in a better way, or doing a lot of training to get people up to scratch.”

October 7, 2013 0 comments
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The Buzz

Business briefing: 4 Oct 2013

by Executive Staff October 4, 2013
written by Executive Staff

Economics and Policy

A prolonged US federal government shutdown could delay military assistance to Israel and other American allies, the State Department has said.

More from Reuters

 

Saudi Arabia has cancelled its annual address at the UN General Assembly in an unprecedented move in protest against its handling of major issues in the Muslim world.

More from Arabian Business

 

Most Gulf bourses retreated Thursday in cautious investor sentiment ahead of an extended public holiday in mid-October, while strong retail activity lifted Egypt’s bourse.

More from Reuters

 

Companies and Business

Middle East Airlines chairman Mohammad Hout has announced that the profits of the national carrier in the first nine months were slightly less than last year but promised to boost productivity and increase working hours to maintain revenues.

More from The Daily Star

 

Petroleum, the world’s largest liquefied natural gas (LNG) exporter and main source of Qatar’s huge wealth, plans to expand internationally.

More from Reuters

October 4, 2013 0 comments
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The Buzz

Business briefing: 3 Oct 2013

by Executive Staff October 3, 2013
written by Executive Staff

Economics and Policy

The first phase of the onshore oil and gas survey started Tuesday in the Batroun region amid expectations that Lebanon might be sitting on considerable gas wealth in some areas.

More from Daily Star


Iran is preparing a politically risky increase in domestic fuel prices, trying to ease the burden of multibillion-dollar subsidies on an economy severely damaged by Western sanctions.

More from Reuters

 

OPEC's Secretary General says he is comfortable with the market outlook for 2014 and that a forecast drop in demand for OPEC oil is not large, indicating the group may not make big changes to output policy at a December meeting.

More from Reuters

 

Companies and Business

Middle East fund managers are planning to increase investments in Saudi Arabia while withdrawing funds from Dubai, owing to a concern about the latter’s market over heating, according to a Reuters survey.

More from Reuters

 

Qatar's response to allegations of maltreatment of migrant workers in the 2022 World Cup host nation has been "weak and disappointing," the International Trade Union Confederation (ITUC) has said.

More from Reuters

 

October 3, 2013 0 comments
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The Buzz

Business briefing: 2 Oct 2013

by Executive Staff October 2, 2013
written by Executive Staff

Economics and Policy

Israeli Prime Minister Benjamin Netanyahu on Tuesday dismissed a charm offensive by Iran's new president as a ruse concocted by a "wolf in sheep's clothing," and declared that Israel was ready to stand alone to deny Tehran an atomic weapon.

More from Reuters

 

Egypt’s economy will only grow 2.6 percent in the fiscal year ending June 2014, well below the 3.5 percent the government expects to achieve, according to a new poll.

More from Reuters

 

British Prime Minister David Cameron has weighed in on the row over worker abuses in Qatar, saying the state "must do better" after an investigation by a UK newspaper exposed an alarming number of foreign workers dying in the runup to the 2022 World Cup.

More from Arabian Business

 

Companies and Business

Islamic banks in the Gulf's rich Arab oil exporters are likely to keep growing faster than conventional banks, but their advantage in profitability is disappearing, according to a study released on Tuesday.

More from Reuters

 

Qatar has again ranked as the top financial centre in the Middle East, according to to the latest Global Financial Centre Index.

More from Arabian Business

 

The head of Investment Development Authority of Lebanon has said that he expects foreign direct investments to the country would fall by 21 percent in 2013, as the political stalemate and spillover of the Syrian crisis were scaring off potential investors.

More from The Daily Star

 

The head of the European Club Association (ECA), a body which represents Europe’s top football clubs, has been fined over a third of a million dollars by tax authorities for failing to declare two Rolex watches worth around £84,000 ($136,000) when he was searched by customs officials after returning from a trip to Doha funded by the FIFA World Cup 2022 hosts.

More from Arabian Business

October 2, 2013 0 comments
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Editorial

A crude state of affairs

by Yasser Akkaoui October 1, 2013
written by Yasser Akkaoui

September was a silent month. For days on end the Lebanese sat glued to their televisions waiting for the seemingly inevitable American strike against Syria. Daily life hardly seemed relevant in the face of the impending threat and fear of how such a move could turn the region upside down.

The worst part was knowing that the decision that would so deeply affect us was not ours to make. As those in Moscow, Washington, London and Beijing debated our future, we were powerless to do anything but sit silently and wait.

In the end a deal was reached to allow all sides to walk away claiming victory, but this sense of helplessness has permeated Lebanese society in so many ways. Take the country’s offshore oil and gas, which is likely to fundamentally transform the country. Whether it brings about the healthy, wealthy society we want to see or leads us further down the road to being a failed state depends so much on our politicians.

Many of the signs are worrying. Politics is creeping in — the delays of the last month are the result of political interests being put before those of the nation. All sides appear to be jostling for position, seeking to get their share.

This is potentially catastrophic. Our economy is already so deeply politicized that it fails to function. If this were to spill over to oil and gas the cumulative result would be the waste of the country’s underground wealth. This is not mere conjecture, but based on decades of evidence from across the world.

Yet we are not on the streets demanding our politicians put aside their interests and think of the country. We are not campaigning for true transparency and honesty in this most important of sector.

Worse still, part of us has already accepted that there is nothing we can do — the politicians will negotiate a deal in which everyone gets their cut, apart from the people. We feel totally powerless.

This is not good enough. We must work together to ensure that politicians stop trying to get their sliver of the pie, their own little kickback. We must make them so scared of us they can’t help but be honest. And most of all, we must demand that they recognize that these resources are ours, not theirs.

October 1, 2013 0 comments
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The Buzz

Business briefing: 1 Oct 2013

by Executive Staff October 1, 2013
written by Executive Staff

Economics and Policy

Lebanon is expected to host a donor conference in November as the government seeks to secure additional aid to weather the increasing economic burden resulting from the influx of Syrian refugees to the country.

More from The Daily Star

 

Syria’s pound has recovered about 40 percent against the dollar in the past month, gains that Central Bank Governor Adib Mayaleh said were due to the waning risk of a US strike and government intervention.

More from Bloomberg

Wealthy Gulf states are likely to see their oil and gas revenues drop next year but heavy government spending and increasingly energetic private sectors will keep economic growth robust.

More from Reuters

 
 
Companies and Business
 

Lebanon's finance ministry promised Monday to pay the state’s outstanding debts to contractors in four installments before the end of this year.

More from The Daily Star

 

More than $100m of deals have been generated at the 5 Franchise UAE Expo.

More from Arabian Business

 

The Qatar World Cup 2022 could be held in November, according to the new president of the International Olympic Committee.

More from Gulf Business

 

October 1, 2013 0 comments
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Economics & PolicyTourism 2013

A home away from home

by Nabila Rahhal September 30, 2013
written by Nabila Rahhal

Living in Beirut can seem unbearable during the summer months.With the sun blazing, traffic jams and construction noise, one begins to dream of a getaway to a more serene environment.

This desire for escape is the driving force behind the rising number of boutique hotels and bed and breakfasts in Lebanon’s mountainside and even in the more quiet areas of Beirut.

Across Lebanon, there are around a dozen genuine maison d’hotes or bed and breakfasts — eight of which are profiled on the website L’Hote Libanais — characterized by the owner residing in the house and sharing vacant rooms with guests, offering them homemade breakfast in the package.  Executive also uncovered more than 10 small boutique hotels and guesthouses which have opened their doors in the past year and a half.

Promoting their lodgings mainly through social media, owners of these hotels are without complaints this summer. Where larger operators are struggling to attract visitors from among dwindling foreign inflows, the rural boutique hotels tell Executive of  full occupancy on all weekends and holidays and more than 60 percent occupancy on regular weekdays. The warm and friendly atmosphere of these hotels has proven a hit with Lebanese either visiting on local tourism or on a short-retreat from the bustling city.

 

Villa Clara

Although situated within a walking distance from busy downtown Beirut, Villa Clara Boutique Hotel feels notably tranquil. This is made possible by the location of the two-floored 1920s-style villa on a quiet side street off Armenia Street in Mar Mkhayel — Beirut’s up and coming art district — and the fact it is surrounded by 100-year-old paradise trees, which allow guests to wake up to the sounds of chirping birds instead of the noise pollution associated with Beirut.

Its placid location makes Villa Clara — launched in December 2012 — ideal for those who are on business in Beirut but still seek a peaceful and authentic area where they can experience such Lebanese traditions as neighbors on balconies inviting them for coffee or having their shoe fixed at the local shoemaker.

Villa Clara has seven fully serviced rooms, each painted uniquely and decorated with pieces designed by the likes of Andree Putman or Philips Aurelle, giving the boutique hotel a reputation of being design-oriented and artistic. At the time of the interview with Executive, the rooms were fully booked on all days of the week until the end of August — with reservations piling up for September. Villa Clara is promoted mainly through word of mouth, recent guides on Lebanon and social media sites such as Facebook or TripAdvisor, where users have posted photographs, as well as commenting on the friendliness of the owners, the fast internet connection and the good French food in the restaurant, which is a part of the Villa Clara project. 

Marie-Helene Gougeon, who along with her French chef husband Olivier owns Villa Clara, says her guests are mainly Europeans on extended business trips, as well as some expats and Lebanese couples seeking a romantic getaway. “They are looking for a place that is calm where they can discover the city in a pleasant way,” says Marie-Helene.

With its common salon and open garden, Villa Clara is a dynamic yet intimate hotel and guests are often seen mingling together in quiet conversation or seeking recommendations from Marie-Helene — who has a PhD in business and design — on local designers and authentic experiences in the area. Yet Marie-Helene insists that she is running a hotel, not a “bed and breakfast” and so guests are to have their privacy respected whenever they seek it.

$165 for single room with breakfast and $180 for double, breakfast included. Wifi and valet parking included.

 

Bouyouti

 

Bouyouti was not initiated as a commercial venture. Three years ago, the hotel’s owners, the Bazergis, stumbled into the hospitality sector upon the suggestion of a French family friend.

The Bazergis have a 40,000 square meter (sqm) green land surrounding their family home in Deir Al Kammar, in the Chouf region of Lebanon, including a pond, a cave and a small farm. Inspired by his love of the nature in the area, Rafic Bazergi designed and built eight little huts on the land as a hobby. “Each time, he would be planning to build a home for the caretaker but we would tell him it’s too pretty and suggest another purpose such as a guesthouse or an atelier for my mom who is a designer,” says Rawan Bazergi, the daughter and spokesperson for the project.

When the family friend first suggested they use the huts as hotels, the Bazergis were hesitant about letting strangers into their private land but the friend encouraged them by saying he would only send them his trusted contacts. Being hospitable and friendly by nature, the Bazergis found that they enjoyed hosting guests and decided to take the hospitality business seriously, adding a pool to their land and ensuring each guest house had full amenities. 

Midway through this year, Rawan created the logo and social media page for Bouyouti and the family has been receiving reservation calls ever since leaving them almost fully booked until September 21. According to Rawan, 70 percent of Bouyouti’s guests are Lebanese who either want to discover the well preserved nature in the Chouf area or enjoy a calm break away from their busy schedules in the city. The remaining 30 percent are Europeans of various nationalities. Bouyouti’s guests usually stay for one night but some have stayed for a week as a work-related retreat.

When explaining the appeal of their boutique hotel, the Bazergis quoted their guests who have said that they feel at home in Bouyouti, since they are given a charming guesthouse to themselves rather than a generic room in a hotel. Also of interest to Lebanese youth, says Rawan, is being able to explore areas of their country that may be previously unknown to them and also enjoying the greenery — something of a rarity in the capital.

Building on the serene image projected by Bouyouti, the Bazergis plan to start yoga retreats and are considering spa accommodations. While Bouyouti has the facilities to remain open year long, the Bazergis are still in debate about whether or not to do so. “This remains more our home than a commercial venture,” says Rawan and so profit won’t be a factor in that decision. Instead it will be decided on what would be appealing to guests.

A two-person guesthouse goes for $200, breakfast included. Four people would pay $300 for a fully furnished hut, including towels, with all services and pool access.
 

La Maison De La Foret

Now in its first summer of operation, La Maison De La Foret is a 35,000 sqm boutique resort village consisting of a restaurant with a capacity of 150, a snack bar, bungalows and tents for 50 guests, as well as a myriad of outdoor activities including hiking, mountain biking, rock climbing and donkey rides — enjoyed by both adults and children.

Born out of a public-private partnership between the Union of Municipalities of Jezzine and a company established by Tanya Nader, her brother Antoine and Amal Bou Zeid, La Maison De La Foret’s main objective is to promote eco-tourism in the Jezzine region, South Lebanon.
Nader speaks of the boom in eco-tourism among the Lebanese over the past 10 years, giving the example of Al Chouf Cedar Nature Reserve where, a decade ago, only a third of the 6,000 annual visitors were Lebanese while today the reserve receives 68,000 annual visitors among which only 6,000 are foreigners.

According to Nader, however, South Lebanon has been largely left out of this local tourism boom so far, particularly as there are no big attractions like Baalbek or the Cedars in the area. “What we do have is the biggest pine forest in the Middle East which means that eco-tourism could be a big factor in promoting tourism to the area and helping it grow both economically and socially,” says Nader. Eco-tourism seems to be a big factor indeed as La Maison De La Foret’s outdoor activities alone see a turnover of over 600 people during the weekends.

With 24 full-time and 27 peak-time employees, in addition to the suppliers and various handymen associated with the project, La Maison De La Foret is benefiting the region economically as well.

La Maison De La Foret is performing better than Nader expected and its bungalows are fully booked Thursdays, Fridays and Saturdays until the end of September. Its tents, which are usually reserved on a week-by-week basis, were at 50 percent capacity for two weeks in mid-August.

Nader divides her Lebanese clientele — who account for 75 percent of her guests — into three groups: families with children looking for fun activities; groups of friends between the ages of 18 and 30 looking for outdoor adventure; or expats seeking to discover new areas of Lebanon. The remaining 25 percent are foreigners residing in Lebanon and Nader says she has not received any tourists in the resort yet.

La Maison De La Foret will be operating year round with seasonal activities and Nader will be targeting schools and corporate sector retreats in spring and Fall when the weather in the region is ideal. 

Bungalow $125 for the first person and $25 for each additional person including a large breakfast of locally produced foods.

Tents $35 per person with a shared bathroom.

 

Beit Al Batroun

 
While Collete Kahil was living in London, she entertained a dream of owning and operating a bed and breakfast in Lebanon. After five years of working on its construction, with the aid of one stone master from the area, Kahil realized her dream in July 2013 with Beit Al Batroun, situated minutes away from the Batroun highway, on a hilltop overlooking the touristic beach clubs below.

Beit Al Batroun is a true bed and breakfast as Kahil lives in the charming house and has her room right across from the guest room on the first floor. The ground floor has two other rooms, making a total of three rooms in Beit Al Batroun, which have been fully booked since day one and remain so until the end of September with Kahil already receiving inquiries about New Year’s Eve. 

Kahil is pleasantly surprised by the success of her venture, which she has promoted only through her Facebook page and word of mouth from satisfied guests. She explains the appeal of Beit Al Batroun by mentioning the serenity of the area, which is still in proximity to the more active beach restaurants of the Batroun area. She also feels her bed and breakfast concept is unique in Lebanon and people are enjoying the novelty of being a guest at someone’s home, especially one as appealing as Beit Al Batroun, which has vintage pieces from Middle Eastern history — each with their own story — collected by Kahil herself over the past 10 years.

Kahil first thought she would be catering mainly to foreigners but has only received two foreign groups so far, with the majority of her guests being Lebanese from various regions. Beit al Batroun will remain in operation until November but Collette is considering accepting guests after that and hopes to cover costs, and not to return the investment on the house itself which she considers her home for life.

$160 a room with breakfast.

 

Kroum Ehden

Kroum Ehden is the first venture of Optimum Holding — a real estate development and professional services company located in Beirut serving mainly Europe and North Africa — into the hospitality sector as both as owners and operators through their offshore company Fantazy Hospitality Events.

An ambitious project of six phases, phase one is Kroum Ehden, which spans over 14,000 sqm area of land and opened its doors this July at a cost of over $6 million. The luxury boutique summer destination has a restaurant, a beach resort with two communal cascade pools, a lodge with four suites for families and six chalets for couples each with a private pool, outdoor night spot and an Italian pizza bar.

Gaby Tayoun, chairman and CEO of Optimum Holding and owner of Kroum Ehden, chose the area for personal and emotional reasons, including the fact he is a native of Ehden. He says he is pleased to contribute to the economic and social growth of the northern region of Lebanon by employing 82 full time staff who are also hospitality students in the universities of the area and through creating more activity in Ehden. Future phases include boutique stores, a spa and wellness center, a winter hotel and residential serviced villas with seasonal leasing. But Tayoun adopts a “we will see” approach to future plans as he believes that Lebanon’s foundations are too unstable to build a solid business plan.

Phase one is performing better than expected and Tayoun says they are flattered by the positive feedback from Lebanese expatriates — who are their main clients — along with Lebanese residents looking to try something different. Kroum Ehden’s Lodge had 84 percent occupancy — including weekdays —since its opening in mid-July and ongoing until September while the main restaurant which has a capacity of 250, is seeing two or three turnovers on weekends.   Tayoun attributes Kroum Ehden’s success to the fact people are seeking peace of mind and he proudly says no local news is played on their TVs or found in their magazine selection. Guests also enjoy the luxuriously authentic surroundings and the activities provided by the resort — paragliding and hang gliding to name a few — as well as by the surrounding area.

Tayoun says there is something for almost everyone in Kroum Ehden, from the middle class young professionals enjoying the healthy food in their restaurant, to the wealthy professionals relaxing at the pool, to the youth from neighboring areas enjoying sunset drinks and late night parties in the lodge.

Average restaurant bill: $35 per person for a five course meal, comparable to good restaurants in the region.

Suite in the lodge: $290, including breakfast with wifi connection and access to private and public pools.

Chalet in the lounge: $190 with wifi and access to all pools..

September 30, 2013 0 comments
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Since its first edition emerged on the newsstands in 1999, Executive Magazine has been dedicated to providing its readers with the most up-to-date local and regional business news. Executive is a monthly business magazine that offers readers in-depth analyses on the Lebanese world of commerce, covering all the major sectors – from banking, finance, and insurance to technology, tourism, hospitality, media, and retail.

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