Tag: MENA

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ELEKTROS SONIC Receives Test Results, One Step Closer for DOT Certification

SUNNY ISLES BEACH, FL / ACCESSWIRE / September 20, 2022 / Elektros (OTC PINK:ELEK), an emerging leader in the electric mobility industry, today announced that the company has received significant results regarding the Elektros Sonic vehicles FMVSS 500 Report for Low-Speed Vehicles which was recently conducted overseas by a reputable company hired earlier in the year.

The results from the FMVSS 500 Report concluded that the Elektros Sonic vehicle successfully passed the Maximum Speed Test and Gross Vehicle Weight Rating. The vehicle also passed a variety of safety equipment requirements for the Department of Transportation certification including the driver and passenger’s mirrors, parking brake, and the Vehicle Identification Number. The Elektros Sonic vehicles, however, will need to be tested again for other safety equipment requirements such as the headlamps, tail lamps, and seat belt assemblies.

The FMVSS 500, in accordance with the U.S. Department of Transportation, specify basic safety equipment including lights, reflectors, mirrors, windshields, windshield wipers, parking brakes and seat belts on motor vehicles whose maximum speed is between 20 and 25 mph. The purpose of this test helps ensure that low-speed vehicles can be safely operated on public streets, roads and highways are equipped with the minimum motor vehicle equipment appropriate for motor vehicle safety. Low-speed vehicles means a motor vehicle that is four-wheeled; whose speed attainable more than 20 mph but not more than 25 mph on a paved level surface; and whose gross vehicle weight rating is less than 3,000 lbs. as stated by the NTEA.

The company looks forward to focusing their efforts on the remaining requirements and is thrilled to be one step closer to receiving certification from the Department of Transportation for Elektros Sonic vehicles.

About Elektros, Inc.

Elektros (OTC PINK:ELEK) is an American electric transportation company that innovates mobility solutions for consumers and businesses. The automotive landscape faces existential disruption over the next decade to reach carbon neutrality. Elektros addresses this paradigm shift with mobility technologies that support sustainability for a transformative user experience. Elektros aims to present a compelling and completely new electric vehicle experience known as Elektros Sonic to consumers beginning as early as 2023. https://elek.world/

Twitter: https://twitter.com/elektrosenergy

Facebook: https://www.facebook.com/Elektrosmotors/

Cautionary Language Concerning Forward-Looking Statements

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc.’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Elektros Inc.’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs, and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc., please refer to the Company’s Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:

Investcore Media Phone: 201.355.6946
Email: info@investcoremedia.com

Elektros, Inc.
Email: info@elektrosmotors.com

SOURCE: Elektros, Inc.

 

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Madison Realty Capital Originates $315.6 Million Loan for The Four Seasons Hotel and Residences in New Orleans

NEW YORK, Sept. 19, 2022 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that it has provided a $315.6 million loan to Carpenter & Company, Inc. and Woodward Interests, LLC for the completion of the renovation at the Four Seasons Hotel and Residences New Orleans located at 2 Canal Street in New Orleans, Louisiana.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “The Four Seasons New Orleans is well positioned along the Mississippi River, between the French Quarter and Central Business Districts, to capitalize on the demand from New Orleans’ robust tourism market and expanding business district. We are pleased to leverage our familiarity with the Four Seasons brand to deliver a timely and customized financing solution to an experienced borrower group for a well-recognized New Orleans landmark with exciting cultural attractions.”

The 341-key Four Seasons hotel opened in July 2021 and is part of a mixed-use tower that includes 92 residential condominiums on the top floors. Operated by the Four Seasons, the residences have a private entrance from the hotel and offer one- to three-bedroom units and four-bedroom penthouses. To date, the property has sold 50% of the condominiums.

The 33-story hotel and residence offers event space and amenities including two restaurants, a lobby and bar, full-service spa, fitness center, outdoor pool, and private gardens. The highly awarded hotel was named a “Best Hotel in New Orleans” and one of the “Best New Hotels in the World” by Travel + Leisure; a “Best of the Best” New Hotels in the World by Robb Report; and a “Best New Hotel in the Country” by USA TODAY 10Best. Additionally, the building is home to Vue Orleans, a unique indoor and outdoor observatory with panoramic views of the city and historic and cultural exhibits.

Richard Friedman, President and Chief Executive Officer of Carpenter & Company Inc., said, “Madison Realty Capital has significant expertise investing in Four Seasons projects and we are pleased with their team’s ability to work quickly and provide certainty of execution. We look forward to moving to the next stage of this exciting project as we raise the hotel quality bar in New Orleans with the customized and flexible financing Madison delivered.”

Madison Realty Capital has significant experience investing in Four Seasons Hotels. Notable transactions include a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale and $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami.

Riaz Cassum and Henry Schaffer from JLL Capital Markets arranged the financing.

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of August 31, 2022, manages approximately $9.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $21 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com
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Adrian Ridge Named Executive Vice President Operations & Manufacturing for Nikkiso Clean Energy and Industrial Gases Group

TEMECULA, Calif., Sept. 15, 2022 (GLOBE NEWSWIRE) — Nikkiso Cryogenic Industries’ Clean Energy & Industrial Gases Group (“Group”), a part of the Nikkiso Co., Ltd (Japan) group of companies, is pleased to announce that Adrian Ridge has been named Executive Vice President, Operations &Manufacturing.

Adrian is a seasoned international executive with 30 years of experience with Atlas Copco in various leadership roles ranging from Service Management, Product Marketing Management, General Management and Global President of both Service and Prime equipment divisions. He is a Mechanical Engineer with an MBA in international Business.

Having global responsibility for more than 20 years and being based in the UK, Ireland, Japan, Spain and Belgium, he brings a deep understanding of the challenges the Group will face as they continue to grow their international footprint. In this role Adrian will lead global operations, directing the Group’s Functional Unit Presidents and General Managers to further develop and enhance their global manufacturing strategy and operational excellence management system. He will also focus on the customer experience, supply chain management, quality assurance and support of the Group’s global initiatives.

“Adrian is passionate about developing operations that deliver a ‘superior customer experience’,” according to Peter Wagner, CEO of Nikkiso CE&IG. “He is looking forward to joining CE&IG’s mission ‘to provide innovative equipment, technologies and services through our global group of companies to help our customers make a difference!’”

He will be based in Belgium and travel extensively to the Group’s key global operating locations. With this addition, Nikkiso continues their commitment to be both a global and local presence for their customers.

ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a member of Nikkiso Co., Ltd.) member companies manufacture, and service engineered cryogenic gas processing equipment (pumps, turboexpanders, heat exchangers, etc.), and process plants for Industrial Gases, Natural gas Liquefaction (LNG), Hydrogen Liquefaction (LH2) and Organic Rankine Cycle for Waste Heat Recovery. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Nikkiso Cryo, Nikkiso Integrated Cryogenic Solutions, Cosmodyne and Cryoquip and a commonly controlled group of approximately 20 operating entities.

For more information, please visit www.nikkisoCEIG.com and www.nikkiso.com.

MEDIA CONTACT:
Anna Quigley
+1.951.383.3314
aquigley@cryoind.com

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Madison Realty Capital Originates $85 Million Loan for Luxury Condominiums on Fisher Island in Miami, Florida

Loan Facilitates Acquisition of Last Remaining Development Site on Exclusive Island

NEW YORK, Sept. 15, 2022 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that it has provided an $85 million loan to The Related Group (“Related”), BH Group, Teddy Sagi’s Globe Invest, and Wanxiang Group Corporation for the acquisition and pre-development of a 6.51-acre land parcel with approved plans for the development of a luxury condominium project on Fisher Island in Miami Beach, Florida.

The parcel is located at 6 Fisher Island Drive at the last remaining condo development site on the 216-acre private island, which is accessible only by ferry, boat, or helicopter and offers significant privacy for its 800 residents. The condominiums will rise ten stories and consist of 51 units across a mix of three- to five-bedroom residences, three villas and two penthouses with premium finishes and appliances. The property will include 450 feet of private oceanfront and valet parking for 169 spaces as well as 7 private two-car garages and 93 golf cart spaces. Residents will have access to premier amenities as well as membership to the Fisher Island Club, which offers beaches, seaside golfing, tennis courts and restaurants.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “Fisher Island is one of the most exclusive residential locations in the country. Owing to the scarcity of land, limited supply of new residences, and significant development timeline, property values on Fisher Island have performed through market cycles. We are pleased to provide financing for the acquisition and predevelopment of such a rare development site and to complete our second transaction with Related and BH Group in such a short period of time.”

The loan is Madison Realty Capital’s second to Related and BH Group. In July, it provided the partners with a $76 million loan for the development of District 225, a 343-unit luxury condominium in Downtown Miami.

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of August 31, 2022, manages approximately $9.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $21 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com

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Heart Aerospace unveils new airplane design, confirms Air Canada and Saab as new shareholders

Swedish electric airplane maker Heart Aerospace today unveiled significant design updates to its first electric aircraft and confirmed Air Canada, one of North America’s largest airlines and Saab, the Swedish aerospace and defense- company, as new minority shareholders.

Gothenburg, Sweden, Sept. 15, 2022 (GLOBE NEWSWIRE) — Swedish electric airplane maker Heart Aerospace today unveiled significant design updates to its first electric aircraft and confirmed Air Canada, one of North America’s largest airlines and Saab, the Swedish aerospace and defense- company, as new minority shareholders.

The new airplane design, called the ES-30, is a regional electric airplane with a capacity of 30 passengers and it replaces the company’s earlier 19-seat design, the ES-19. It is driven by electric motors powered by batteries, which allows the airplane to operate with zero emissions and low noise.

Air Canada and Saab have each invested USD 5 million in Heart Aerospace. In addition to its investment, Air Canada has also placed a purchase order for 30 ES-30 aircraft.

“We are thrilled to have two such strong partners as Saab and Air Canada join our mission to electrify regional air travel. Growing up in Sweden, Saab is synonymous with aerospace, and our partnership will not only support our programme, but help us to become a part of the proud Swedish aerospace heritage,” said Anders Forslund, founder and CEO of Heart Aerospace. “Air Canada is a strategically important partner with one of the world’s largest networks operated by regional turboprops, and as a progressive, future leaning company.”

“Air Canada is very pleased to partner with Heart Aerospace on the development of this revolutionary aircraft. We have been working hard with much success to reduce our footprint, but we know that meeting our net-zero emissions goals will require new technology such as the ES-30. We have every confidence that the team at Heart Aerospace has the expertise to deliver on the ES-30’s promise of a cleaner and greener aviation future,” said Michael Rousseau, President and Chief Executive of Air Canada.

The ES-30 has a comfortable three-abreast flat-floor cabin seating, and it features a galley and a lavatory. Cabin stowage and overhead bins will add to the large external baggage and cargo compartment and provide airlines with network flexibility.

The airplane will also include a reserve-hybrid configuration, consisting of two turbo generators powered by sustainable aviation fuel. The reserve-hybrid system is installed to secure reserve energy requirements without cannibalizing battery range, and it can also be used during cruise on longer flights to complement the electrical power provided by the batteries.

This gives the airplane a fully electric range of 200 kilometers, an extended range of 400 kilometers with 30 passengers, and flexibility to fly up to 800 kilometers with 25 passengers, all-inclusive of typical airline reserves.

“The ES-30 is an electric airplane that the industry can use. We have designed a cost-efficient airplane that allows airlines to deliver good service on a wide range of routes,” said Anders Forslund, founder and CEO of Heart Aerospace. “With the ES-30 we can start cutting emissions from air travel well before the end of this decade and the response from the market has been fantastic.”

“This underlines our commitment to innovative technology and solutions for sustainable aviation. Heart is a pioneer within commercial electric aviation and we look forward to contributing to the future of aviation with our experience of developing solutions at the forefront of technology,” says Micael Johansson, Saab’s President and CEO.

Previous orders for Heart Aerospace’s ES-19 electric airplane, placed by United Airlines and Mesa Air Group for a total of 200 electric aircraft with an option for an additional 100 planes, are reconfirmed for the updated ES-30 design.

“From the beginning Heart and United have been on the same page – with an acute focus on safety, reliability, and sustainability. Heart’s exciting new design – which includes expanded passenger capacity from 19 to 30 seats, and a state-of-the-art reserve-hybrid engine – is the type of revolutionary thinking that will bring true innovation to aviation,” said Scott Kirby, CEO of United Airlines.

In addition to those commitments, many of the ES-19 letters of intent (LOI) holders have already updated their respective letters to reflect the ES-30. These include the Nordic airlines Braathens Regional Airlines (BRA), Icelandair and SAS as well as New Zealand’s Sounds Air. Rockton, a Swedish-based lessor who has made it their mission to focus on sustainable solutions for the industry, has just signed an LOI with for up to 40 airplanes.

In total, Heart Aerospace has LOIs for 96 ES-30s.

The ES-30 is a cost efficient airplane that, on top of significant fuel savings, is cheaper to operate than a larger turboprop due to its electric propulsion. The airplane has also been designed to accommodate battery technology evolution, which will increase its fully electric range and make it even more cost efficient over time.

The ES-30 is expected to enter into service in 2028.

The Swedish electric airplane maker will establish the world’s first commercial electric aircraft industry at Säve airport, in Gothenburg, Sweden.

Heart Aerospace will build sustainable state-of-the-art offices, production, and flight test facilities which, together, will form a new campus that will go by the name the Northern Runway.

“We have a plan and it’s not just to build a new electric airplane, but a whole new industry,” said Anders Forslund, founder and CEO of Heart Aerospace. “Sweden is the origin of flight shame, an anti-flying movement, but with the Northern Runway we will make electric air travel a reality and preserve flying for future generations.”

Heart Aerospace’s Northern Runway campus will form part of the Castellum owned development area Gateway Säve, where a unique site for sustainable logistics and electric mobility is being developed.

“Gothenburg has distinguished itself as a driving force within electrification, with world class research facilities like the Swedish electric transport laboratory, SEEL, Chalmers University of Technology and a large cluster of companies focused on battery and electric vehicle development,” said Sofia Graflund, chief operating officer at Heart Aerospace. “The ambition that Castellum and the City of Gothenburg have for Gateway Säve is truly unique and that is why we have decided to establish our new industry here.”

Heart Aerospace currently employs 130 people, but the company is growing rapidly and expects to employ around 500 people by 2025.

” We are extremely proud that Heart Aerospace has chosen Gothenburg for this step in their expansion, which we will give full support. The establishment will generate an additional 500 Swedish jobs by 2025 and even more when series production begins,” said Patrik Andersson, CEO of Business Region Göteborg.

The long-term recruitment base in Gothenburg is strong due to its proximity to Chalmers University of Technology, ranked among the top 100 in the world in terms of graduate employability.

A first phase in the establishment of Heart Aerospace’s Northern Runway is scheduled to be finalized by mid-2024, with test flights scheduled to start in 2026. Heart Aerospace expects to deliver its first ES-30 aircraft in 2028.

Note to editors:

More information on “Gateway Säve” can be found on www.gatewaysave.com.

Christina Zander
Heart Aerospace
+46 728889610
press@heartaerospace.com
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Elektros Announces Filing of Full Patent for Revolutionary EV Charging Technology

SUNNY ISLES BEACH, FL / ACCESSWIRE / September 15, 2022 / Elektros (OTC PINK:ELEK), an emerging leader in the electric mobility industry, today announced that the company is beginning the process to file a full patent for its long-awaited electric vehicle Multi-Port Charging Assembly technology.

The company recently made the strategic decision to retain a nearby firm in Sarasota, FL that will assist in bringing the full patent into fruition as quickly and efficiently as possible. Elektros first filed the patent in October 2021 where CEO, Shlomo Bleier, stated that “this achievement is the first of many meaningful milestones that will add a secure foundation to build our sustainable competitive advantage. We believe this technology could be a game changer for the electric vehicle industry.”

The disruptive technology allows consumers to use multiple charging features at once, which is anticipated to become a sought-after feature in electric vehicles moving forward. The company plans to not only include it in our own designs, but aggressively market the technology to the major electric vehicle manufacturers such as Waymo, Envoy, Lucid Motors, Revel, NIO, and Nikola, as well as manufacturers of alternative fuel vehicles.

About Elektros, Inc.

Elektros (OTC PINK:ELEK) is an American electric transportation company that innovates mobility solutions for consumers and businesses. The automotive landscape faces existential disruption over the next decade to reach carbon neutrality. Elektros addresses this paradigm shift with mobility technologies that support sustainability for a transformative user experience. Elektros aims to present a compelling and completely new electric vehicle experience known as Elektros Sonic to consumers beginning as early as 2023. https://elek.world/

Twitter: https://twitter.com/elektrosenergy

Facebook: https://www.facebook.com/Elektrosmotors/

Cautionary Language Concerning Forward-Looking Statements

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc.’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Elektros Inc.’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs, and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc., please refer to the Company’s Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:
Investcore Media Phone: 201.355.6946
Email: info@investcoremedia.com

Elektros, Inc.
Email: info@elektrosmotors.com

SOURCE: Elektros, Inc.

 

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Business School Students in High Demand: Nearly 9 in 10 Landed Jobs Prior to Graduation

Survey finds full-time MBA graduates in North America benefit the most from salary bump while Asia Pacific graduates record the biggest increase in rating of the overall value of degrees

RESTON, Va., Sept. 14, 2022 (GLOBE NEWSWIRE) — Despite market fear of an imminent recession, 86 percent of 2022 business school graduates were employed at the time of graduation, up from 80 percent in 2021, according to a survey report released today by the Graduate Management Admission Council (GMAC). Contributing to the favorable trends are the regional results of graduates who studied in the Asia-Pacific region and Europe. Among graduates of Asia-Pacific business schools, this year 91 percent report being employed at the time of graduation, compared with 78 percent in 2021. Similarly, among European graduates, 90 percent indicate they were employed this year compared with 75 percent last year.

The annual Enrolled Students Survey from GMAC, a global association of leading graduate business schools, aims to better understand current trends in student and recent graduates’ evaluations and outcomes of their graduate management education (GME). Conducted in May-June 2022, this year’s survey explores the views of 1,718 respondents from nearly 300 business schools in 57 countries around the word on their overall GME experience, job search, and compensation in the context of the COVID-19 pandemic.

Globally, the responding graduates of participating schools reported a median percentage increase in total compensation—including base salary and all other compensation—of 29 percent. Notably, among North American school graduates, those who attended full-time MBA programs reported a pre-GME total compensation median of US$80,000, and a post-GME total compensation median of US$120,000—an impressive 50 percent increase.

“With the volatile economic conditions and organizational challenges brought on by the pandemic, well-rounded and prepared business leaders and managers are especially in demand in the current job market,” said Matt Hazenbush, director of research analysis and communications at GMAC and author of the report. “As the survey findings suggest, graduate management education provides students with a powerful leg up for their career.”

Other Key Findings

Most students who set out to make a career change or gain a promotion encounter success

In step with the Great Resignation, students’ top goals and motivations in 2022 were to enrich their lives and make a career change. Among 2022 respondents, a majority who set out to make a career change or get promoted report that they were successful in achieving that goal. Specifically, among those who say making a career change was one of their top three motivations to pursuing GME, 57 percent said they were successful. Success rates for graduates from schools in Latin America/Middle East/Africa (66%) and North America (61%) were slightly higher, though not significantly, than those in Asia Pacific (54%) or Europe (55%), but across world regions a majority successfully made the career change they set out to make. Similarly, 56 percent of graduates who had the goal to gain a promotion were successful.

Social media use in the job search jumps up from last year

Use of social media in the job search—including sites like LinkedIn—increased significantly year-on-year, from 27 to 37 percent, overtaking networking with classmates and alumni (28%) as well as friends and family (35%). The increase in social media use as a job search method was significant among professional MBA (24% in 2021 to 31% in 2022) and business master’s students (23% in 2021 to 40% in 2022). By region, use of social media increased significantly among those who studied in Asia Pacific, Europe, and Latin America/Middle East/Africa, but not in North America.

Students from Asia-Pacific schools rate the overall value of their degree significantly higher in 2022 compared with 2021

Eighty-five percent of respondents rated the overall value of their degree as good to outstanding, up slightly from 82 percent in 2021. By region, students who studied in Asia-Pacific schools reported the largest year-on-year increase in favorable ratings for the overall value of their degree, rising from 75 percent to 86 percent between 2021 and 2022. While both full-time MBA and business master’s students in Asia Pacific had year-on-year increases, the increase was significant among full-time MBA students, rising from 66 percent to 84 percent. Globally, students who attended ranked schools reported similar levels of favorability of the overall value of their degree compared with students who attended non-ranked schools (85%, respectively).

As pandemic restrictions eased, student satisfaction with career and student services improved

Eighty-four percent of 2022 respondents gave career services a favorable review, up from 74 percent in 2021. Also improving were opinions on student services, up to 85 percent favorable from 80 percent in 2021. The improvement in favorability in career and student services was consistent across students of full-time MBA, business master’s, and professional MBA programs, as well as students who studied in Asia Pacific, Europe, Latin America/Middle East/Africa, and North America.

About GMAC

The Graduate Management Admission Council (GMAC) is a mission-driven association of leading graduate business schools worldwide. GMAC provides world-class research, industry conferences, recruiting tools, and assessments for the graduate management education industry, as well as resources, events, and services that help guide candidates through their higher education journey. Owned and administered by GMAC, the Graduate Management Admission Test™ (GMAT™) exam is the most widely used graduate business school assessment.

More than 12 million prospective students a year trust GMAC’s websites, including mba.com, to learn about MBA and business master’s programs, connect with schools around the world, prepare and register for exams and get advice on successfully applying to MBA and business master’s programs. BusinessBecause and The MBA Tour are subsidiaries of GMAC, a global organization with offices in China, India, the United Kingdom, and the United States.

To learn more about our work, please visit www.gmac.com

Media Contact:

Teresa Hsu
Sr. Manager, Media Relations
202-390-4180 (mobile)
thsu@gmac.com

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Dave and Buster’s to Open 11 Units Across KSA, UAE, and Egypt

Announces international franchise partnership with Abdul Mohsen Al Hokair Holding Group

DALLAS, Sept. 14, 2022 (GLOBE NEWSWIRE) — Just a few months after announcing its international expansion plans Dave & Buster’s inks its first multi-country, multi-unit deal.

“We couldn’t be more pleased and excited to announce our Partnership with Abdul Mohsen Al Hokair Holding Group to develop the Dave & Buster’s Brand across key West Asian Markets,” said Antonio Bautista, Chief International Development Officer of Dave & Buster’s.

The Brand will begin its expansion with sites in the Kingdom of Saudi Arabia, followed by the United Arab Emirates and Egypt.

“Dave & Buster’s is a preeminent entertainment brand, and this franchise partnership marks a strategic milestone for our organization as we continue expanding our entertainment and hospitality portfolio across the region,” said Mishal Alhokair, Deputy CEO of Abdul Mohsen Al Hokair Holding Group.

To drive international expansion, Dave & Buster’s has developed key strategic initiatives that uniquely support global market penetration:

  • Customizable footprint to drive box economics in each market as required
  • Menu localization with high regional resonance
  • Proprietary, dynamic pricing model
  • Global marketing programs that are demographically agnostic and locally executable
  • Differentiated and unique amusement strategy and packages
  • Localized entertainment and 3rd day part programming

“With four decades of market leading experience, a seasoned leadership team, and a best-in-class support center infrastructure, Dave & Buster’s is ready to RUN THE FUN for our global partners and guests,” added Antonio Bautista.

For more information on franchising opportunities visit www.daveandbusters.com/franchising or email InternationalDevelopment@daveandbusters.com

About Dave & Buster’s
Founded in 1982 and headquartered in Coppell, Texas, Dave & Buster’s Entertainment, Inc., is the owner and operator of 200 venues in North America that offer premier entertainment and dining experiences to guests through two distinct brands: Dave & Buster’s and Main Event. Dave & Buster’s has 148 stores in 41 states, Puerto Rico, and Canada and offers guests the opportunity to “Eat Drink Play and Watch,” all in one location. Each store offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Main Event operates 52 centers in 17 states across the country, and offers state-of-the-art bowling, laser tag, hundreds of arcade games, and virtual reality, making it the perfect place for families to connect and make memories. For more information about each brand, visit www.daveandbusters.com www.mainevent.com

About Abdul Mohsen Al Hokair Holding Group “Believe in what you do & you shall become the master of your craft”
This phrase inspired Sheikh Abdul Mohsen Al Hokair to start his first theme park in Riyadh, which was “an unprecedented leap” in the tourism and entertainment sector, a sector that ran on mere “coincidence.” Here in Abdul Mohsen Al Hokair Holding Group, we turned “the dream” into an organized industry that aspires to be the best locally, regionally, and internationally. Sheikh Abdul Mohsen’s vision began with the need for tourism and entertainment in the Gulf region, which led to the opening of parks, and recreational centers in 1978, making him the Sheikh of Tourism in the Gulf Region. The roots of our companies were based on research and planning and deep consideration for all aspects of success.

Now, many people look to us with deep appreciation and respect. Each of our companies has its own story of success, and together they crowned us as a holding company, an umbrella for all companies and businesses. Holding is the mother and protector of our businesses, which began from the first day of networking that Sheikh Abdul Mohsen started to a glorious road that we hope to continue.

MEDIA CONTACT:
Antonio Bautista
antonio.bautista@daveandbusters.com