Quotes: US 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
 Oct 20 2014 - Saudi- Al-Khodari Q3 net profit risesArab News
(MENAFN - Arab News) JEDDAH: Saudi Arabia construction firm Abdullah Abdul Mohsin Al-Khodari and Sons reported a 23.1 percent rise in third-quarter profit.The company made a profit of SR15 million ...

 Oct 20 2014 - Saudi- SAFCO Q3 net profit rises 242Arab News
(MENAFN - Arab News) JEDDAH: Saudi Arabia Fertilizers Co. reported a 24.4 percent rise in third-quarter net profit ending a sustained profit slump as sales prices and sales volumes increased.The ...

 Oct 20 2014 - Saudi- MMG board approves recovery planArab News
(MENAFN - Arab News) ALKHOBAR: Saudi contractor Mohammad Al-Mojil Group's (MMG) board had approved a recovery plan that use most of its existing capital base to pay off debts and new cash raised ...

 Oct 20 2014 - Saudi- Burgan Bank plans 74.8m rights issueArab News
(MENAFN - Arab News) DUBAI: Burgan Bank Kuwait's third-largest lender by assets will launch a 21.6 million dinars ($74.8 million) rights issue by the end of 2014 pending regulatory approvals it said ...

 Oct 20 2014 - Khafji disruption 'unlikely to hurt KSA's oil output'Arab News
(MENAFN - Arab News) ALKHOBAR: Crude production from the Khafji oilfield jointly run by Saudi Arabia and Kuwait has been halted temporarily to comply with environmental rules according to an industry ...

 Oct 20 2014 - Saudi bank shares go on sale in largest IPO worth SR22.5 billionArab News
(MENAFN - Arab News) Shares in National Commercial Bank (NCB) went on sale on Sunday in Saudi Arabia's largest-ever initial public offering (IPO) which at SR22.5 billion ($6 billion) is also one of ...

 Oct 20 2014 - Jarir to invest SR1 billion to double stores over five yearsArab News
(MENAFN - Arab News) RIYADH: Saudi Arabian retailer Jarir Marketing Co. plans to invest SR1.1 billion ($293 million) over the next five years to roughly double the number of its stores in Saudi ...

 Oct 20 2014 - Kingdom's budget surplus likely to hit SR147 billionArab News
(MENAFN - Arab News) Total revenues of the Kingdom are expected to reach SR1.1 trillion in the current year or a surplus of SR147 billion over the projected SR855 billion budget estimated earlier in ...

 Oct 20 2014 - KACST chapter wins awards for electronic warfare achievementsArab News
(MENAFN - Arab News) The King Abdulaziz City for Science and Technology (KACST) has bagged two awards from the Washington-based Association of Old Crows (AOC) for its outstanding achievements in the ...

 Oct 20 2014 - Saudi- Early detection boosts chances against breast cancerArab News
(MENAFN - Arab News) Dr. Samia Al-Amoudi founder and CEO of the Sheikh Mohammad Al-Amoudi Center of Excellence in Breast Cancer said that early detection of breast cancer increases recovery chances ...

more...


 






Google

Click to Apply

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help