Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Hospitality management Holdings to double Dubai portfolio by 2020  Join our daily free Newsletter

MENAFN - Khaleej Times - 07/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Lling out its expansion strategy at the region?s largest hospitality show the dubai-based hotel management company said new hotels will boost the existing hmh portfolio by 25 per cent.hospitality management holdings or hmh has announced its expansion plan at the arabian travel market with an aim to double its portfolio in dubai and having a hotel in every gcc country by 2020.rolling out its expansion strategy at the region’s largest hospitality show the dubai-based hotel management company said new hotels will boost the existing hmh portfolio by 25 per cent.in addition hmh has a solid development pipeline with the group scouting opportunities to roll out its budget brand to cater to the growing segment of low-cost travellers the company said in a statement.hmh chief executive officer laurent a. voivenel said: “by 2020 our aim is to have a hotel in every gcc country while doubling our portfolio in dubai and we certainly believe it is achievable. dubai’s successful bid for world expo 2020 is a massive stimulant for the entire [gcc] region’s hospitality and meetings industry accelerating economic growth and development.”“the gcc’s hospitality market is expected to grow at an annual rate of 8.1 per cent to 28.3 billion by 2016 compared to 19.2 billion in 2011. the expo will deliver global exposure for the uae and its tourism sector including its world-class infrastructure. therefore being based in dubai it presents an unprecedented opportunity for our group and our various brands that we are eager to capitalise on.”hmh has a strong presence in the region with 20 hotels in operation and five new properties opening later this year in quick succession. coral muscat hotel & apartments coral dubai sports city hotel & apartments coral beirut concorde hotel ewa khartoum hotel & apartments and ewa port sudan hotel & apartments are all in advanced stages of development and are expected to welcome their first guests by the last quarter of 2014 or the beginning of 2015.laurent stressed: “besides these five hotels we plan to add another two properties to our portfolio in 2015 and two in 2016. with a value-oriented and disciplined approach our objective is to unlock hmh’s full potential while maximising operating performance of each asset we put our name to.”“we provide hotel owners and developers a broad spectrum of comprehensive management solutions with five distinct yet complementary hotel brands catering to varied market segments from luxury to budget.”


 


Khaleej Times




  MENA News Headlines
 Dec 18 2014 - First Etihad superjumbo to take off next weekAFP
(MENAFN - AFP) The maiden flight of Etihad Airways' long-awaited Airbus A380 superjumbo will take place next week, the Abu Dhabi carrier said Thursday, also announcing its first Boeing 787 Dreamliner ...

 Dec 18 2014 - Saudi crude oil exports grow to 6.9m bpd in Oct.MENAFN
(MENAFN) Top oil exporter Saudi Arabia shipped more crude oil in October than a month earlier while volumes used by domestic refineries remained high allowing more oil products exports, official data ...

 Dec 18 2014 - MEA ICT spending to hit USD270b in 2015MENAFN
(MENAFN) According to a recent report by International Data Corporation (IDC), the Middle East and Africa spending on information and communications technology (ICT) is expected to register a growth ...

 Dec 18 2014 - Expo 2020 to generate USD37.83b in revenue for DubaiMENAFN
(MENAFN) The UAE Ministry of Economy said that it expects the Expo 2020 to bring financial returns of about USD37.83 billion to Dubai, as well as attract more than 25 million visitors, 70 percent of ...

 Dec 18 2014 - Qatar Airways to boost Oman's Salalah serviceMENAFN
(MENAFN) Qatar Airways announced it is planning to add four new services to Salalah, Oman's second largest city, by next February, thus bringing the number of its flights to the city to eight weekly ...

 Dec 18 2014 - Abraaj , Kellogg bidding war intensifies over Egypt's Bisco MisrMENAFN
(MENAFN) The bidding war between UAE's Abraaj Investment Management and Kellogg Co, the breakfast cereal maker, with each company continuously outbidding the other for the acquisition of Egypt's ...

 Dec 18 2014 - UAE's ME Digital Group acquires CoboneMENAFN
(MENAFN) Middle East Digital Group, the online publishing, content and services company and owner of Expatwoman.com, announced it has acquired the online coupon website Cobone in a multi-million ...

 Dec 18 2014 - Dubai's real estate to lead economic growth in 2015MENAFN
(MENAFN) Dubai's Department of Economic Development said that it expects real estate and construction will likely drive economic growth in 2015, which is expected to grow 4.5 percent next year ...

 Dec 18 2014 - Oman's Orpic to invest USD3.6b on increasing productionMENAFN
(MENAFN) Oman Oil Refineries and Petroleum Industries Company (Orpic) announced that its production capacity of polypropylene and polyethylene will increase to 1.4 million tons, when its USD3.6 ...

 Dec 18 2014 - Qatar- HH the Emir, HH the Father Emir Attend National Day Parade -1Qatar News Agency
(MENAFN - QNA) The parade started with the national anthem and the firing of 18-shot gun to celebrate the National Day, followed by a recitation of verses from the Holy Quran. The parade included ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help