Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Ritz-Carlton eyes Middle East Asia  Join our daily free Newsletter

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



(MENAFN - Khaleej Times) Xury hotel giant bullish on continent?s prospects; expansions in the pipeline the ritz-carlton hotel company sees a bullish outlook for the hospitality industry in asia and the middle east and plans to expand its presence in the continent in next two years its senior official says.the luxury hotel brand which has 85 properties in 30 countries worldwide said the luxury hospitality market has traditionally done well in the middle east as travellers to and from the region are willing to make an investment in a unique guest experience at an exceptional property. it will launch 15 new hotels including five new properties in the middle east and africa growing its brand footprint to 100 hotels by 2016.“from a brand perspective we are seeing increasing interest in ritz-carlton and our products reflecting the upbeat sentiment in the market with regards to luxury hospitality. in countries like the uae host of expo 2020 and qatar host of the 2022 fifa world cup this is pronounced as these markets need to bolster their existing hospitality infrastructure with a diverse range of options to cater to the incoming demand” bob kharazmi global operations officer the ritz-carlton hotel company told khaleej times during an interview on the sidelines of the arabian travel market in dubai.over the next 30 months ritz-carlton has new properties scheduled to open in egypt tunisia morocco indonesia china and panama. underscoring the growth of asia as a tourism powerhouse ritz-carlton will add five new properties in the region with further development planned in malaysia and india.kharazmi said the ritz-carlton hotel brand has eight properties in the middle east and africa including three in the uae — the ritz-carlton dubai; the ritz-carlton difc and the ritz-carlton abu dhabi grand canal. adding to this portfolio the brand will also launch the nile ritz-carlton cairo; the ritz-carlton tunis; as well as the ritz-carlton marrakech; the ritz-carlton rabat and the tamuda bay reserve in morocco.“as a source market the middle east is very critical to us. travellers from this region have three aspects that are very attractive to hoteliers — travelling with family is very strong in this region; hotel stays by families and travellers from the middle east are longer than the average stay and finally the spending power of the middle east family is higher than the average global traveller” he said.kharazmi an industry veteran of 31 years said it is very difficult to pigeon-hole the middle east guest into the same category as the european asian or american guest. as a development market he said the middle east is one that “we are expanding our presence in. with the pace of infrastructural developments and economic growth in the middle east the tourism industry is flourishing. our eight properties in the region are performing very well and we are experiencing a high level of interest from owners as well as guests”.about the key growth markets for the ritz-carlton hotel brand he said asia australasia north africa and the middle east are “our key development markets reflecting the shift of economic activity from the west to the east”.“also with the new crop of global travellers who are willing to explore beyond their comfort zones we are seeing increasing interest in asia from the middle east and interest in the travel to the middle east and levant from travellers in europe” he added. “the us remains one of our main strongholds with several iconic properties based in the country. thanks to the increased air lift from the gcc by the big three airlines — emirates etihad airways and qatar airways — we are also getting the opportunity to showcase these landmark hotels and the distinct experiences to guests from the middle east.”about expansion plans he said the brand currently has 85 hotels worldwide in 30 countries including austria bahrain canada china germany india indonesia japan kazakhstan malaysia mexico oman qatar russia singapore saudi arabia spain thailand turkey the uae and the us among others. “we are very bullish about asia at the moment and have five properties set to open in the continent. we have back-to-back openings planned in bali for later this year — the ritz-carlton bali and mandapa a ritz-carlton reserve in ubud bali mark our return to the island.”“reflecting the robust growth in the chinese market we have three properties set to open there by 2015. we made our entry into the indian sub-continent with the ritz-carlton bangalore last year and are exploring opportunities to expand further” he said.


 






  MENA News Headlines
 Jul 30 2014 - Safe haven status boosts investment scope in UAEspanKhaleej Times
(MENAFN - Khaleej Times) E political situation in the region has made Dubai into a magnet for families from across the region to set up home and establish regional or global offices for their ...

 Jul 30 2014 - Tech Mahindra eyes expansion in Saudi ArabiaspanKhaleej Times
(MENAFN - Khaleej Times) Ch Mahindra a specialist provider of connected solutions has announced that it has signed a joint venture agreement with Midad Holding which is a subsidiary of Al Fozan a ...

 Jul 30 2014 - Middle East earns 1 of global market research revenuesspanKhaleej Times
(MENAFN - Khaleej Times) E entire Middle East region earned only a meager one per cent of the global market research revenues which indicates the potential for market research that is prevalent in ...

 Jul 30 2014 - Dewa to show smart initiatives at Gitex 2014spanKhaleej Times
(MENAFN - Khaleej Times) Bai Electricity and Water Authority or Dewa has announced its participation in Gitex 2014 to be held from October 12-16 at the Dubai World Trade Centre.Dewa will showcase its ...

 Jul 30 2014 - Sico first-half net profit jumps 166spanKhaleej Times
(MENAFN - Khaleej Times) Curities & Investment Company or SICO licensed by the Central Bank of Bahrain as a conventional wholesale bank announced its financial results for the second quarter of 2014 ...

 Jul 30 2014 - Taqa Arabia eyes Egypt expansionspanKhaleej Times
(MENAFN - Khaleej Times) Laa Holdings announced that its energy sector subsidiary Taqa Arabia aims to expand its network of fuel stations in Egypt through Taqa oil marketing company.The company ...

 Jul 30 2014 - Real estate to pick up from next week: Industry expertspanKhaleej Times
(MENAFN - Khaleej Times) Bai Land Department transactions exceeded Dh113b for H1 The real estate market in Dubai is expected to pick-up again from next week after a slowdown during the last couple of ...

 Jul 30 2014 - Memon to hand over five projects in 2014spanKhaleej Times
(MENAFN - Khaleej Times) Mpany working on Dh1.Memon Investments has planned to hand over five projects worth more than Dh600 million in the next five months and is also planning to launch five new ...

 Jul 30 2014 - ADFD funding in underdeveloped countries hit Dh61bspanKhaleej Times
(MENAFN - Khaleej Times) E development finance institution articulates the UAEs continued commitment to support the development process of emerging countries.An exterior view of power plant in ...

 Jul 30 2014 - UK and US preferred by Arab travellers: MarriottspanKhaleej Times
(MENAFN - Khaleej Times) E US takes the lead when it comes to bookings with 20 per cent of all reservations closely followed by the UK which accounts for 16 per cent.Marriott International has ...

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

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