Dubai-based Hospitality Management Holdings (HMH) has said it is sticking to its plan to develop 100 new hotels by 2012, despite the global economic downturn.
Company chiefs said they were standing by their expansion plans across the Middle East and beyond, adding that Saudi Arabia, the UAE, Bahrain, Qatar and Bahrain were the main focus for growth.
“We are committed to developing 100 hotels by 2012 – a target that may be challenging given the global downturn, however, we believe it is achievable,” said Michel Noblet, CEO, HMH.
“Our strategy has not changed, nor have our objectives. We have an extremely resilient, long-term vision that will withstand any storm. This is well-studied and well measured,” he added.
However, Michel cautioned that a few projects may face some delays, without adding further details.
“We have a hotel opening practically every few weeks which is wonderful…Yet, there are a couple of properties that have been put on hold owing to recession and will need a little time to get back on track.”
GCC particularly KSA, UAE, Bahrain, Qatar and Oman remains the main focus of expansion for the group, he added, while Africa too would feature large in the plans.
Michel said the company hoped to “announce our biggest project in Africa” at the Arab Travel Market which takes place in Dubai in May.
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