Qatar hotel group unveils expansion strategy
London, November 6, 2012
Qatar-based Katara Hospitality described its global expansion strategy at the ongoing 'World Travel Market' expo in London, where the Qatari group is taking part for the first time as an independent exhibitor.
Katara Hospitality approaches its expansion from two different perspectives that define its strategy, said a top official at the expo which runs till November 8 (Thursday) .
“During the past year, Katara Hospitality doubled our portfolio by acquiring iconic hotels in key markets in Europe, Africa and Asia”, remarked its CEO Hamad Abdulla Al-Mulla.
“As we are aiming to become one of the leading hospitality organisations in the world, our strategic plans for international expansion will lead Katara Hospitality to achieving its goals,” he noted.
In Qatar, the company has shaped the hospitality landscape for over four decades and today it is part of the country’s infrastructure that grows alongside the country’s development. When investing aboard, the organisation is the hospitality flagship of the country, this industry field being perceived as an essential sector in Qatar’s economic diversification, he stated.
As an experienced asset manager, developer and operator, Katara's international expansion strategy is articulated around three clearly defined pillars - Investments in iconic properties; diversification and pioneers in emerging markets, said the top official.
Keen on preserving the industry heritage, Katara Hospitality is acquiring iconic properties that once set the standards in the field and today represent a hospitality legacy, while committing to further invest to bringing them back to their former glory and turn them into thriving businesses, he revealed.
Operational hotels like Raffles Singapore, Le Royal Monceau – Raffles Paris, Schweizerhof Bern and upcoming hotels like Excelsior Gallia Milan, Bürgenstock Resort Lake Lucerne, Royal Savoy Lausanne or The Peninsula Paris are hospitality jewels that are now part of Katara Hospitality portfolio.
“When acquiring a property or engaging into a project, we always look for something extraordinary that sets the project apart”, Al Mulla said.
Recognizing the relevance of contemporary dynamics and the increasing demand in international business tourism, Katara Hospitality focuses on developing a network of first class business hotels.
Currently, the properties owned and managed by Katara Hospitality in Qatar form an eclectic portfolio of hotels that can cover a large area of demand, from high end business travelers to more cost conscious ones, while catering successfully to the MICE segment and offering outstanding recreational facilities, he added.
Katara, said the official, is currently evaluating investment opportunities in business and leisure hotels in Western Europe, North Africa and Arab Peninsula, as well as South-East Asia and North America.
Katara will launching its first internationally-branded hotel in the Union of Comoros – a project which is due for completion in 2015, while we recently signed a MoU for investing in a hospitality development in Gambia”, he added.
Katara's portfolio currently includes 26 properties operational or under construction located in key destinations in Middle East, Europe, Africa and Asia with more than 5000 rooms operational or under development.
In point of current room supply, in a recent benchmarking exercise conducted by Ernst & Young, Katara Hospitality, the market leader in Qatar, has been ranked as the second biggest player in the region and number 17 internationally among similar hospitality companies. Although not a public listed company, Katara Hospitality current worth exceeds $47 billion.-TradeArabia News Service