Sunday, 22 October 2017 02:40 GMT
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Hospitality management Holdings to double Dubai portfolio by 2020

(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.”
Hospitality management Holdings to double Dubai portfolio by 2020