HMH to showcase new hotels at ATM 2011
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Hospitality Management Holdings (HMH) plans to reveal a raft of new properties at the upcoming Arabian Travel Market (ATM), as it aims to reach the milestone of 50 hotels in operation by the end of this year.Michel Noblet, president & CEO of the group, said: “Despite all the hiccups – first the global economic recession and now the Middle East crisis – we will have 50 hotels operational before the end of the year and several of these will be unveiled during the Arabian Travel Market (ATM) in May. We are extremely pleased to reach this milestone as until now most of the hotels were only on the drawing board but today they stand ready to welcome their first guests.”The opening of 15 new hotels before the end of the year will add approximately 2400 rooms to the HMH’s portfolio which is nearly 40% more than the group’s existing supply. Since its formation in 2003, HMH has developed several new brands under its banner including Coral Hotels & Resorts, Corp Executive Hotel Apartments, EWA Hotel Apartments and ECOS Hotels. However, Coral Hotels & Resorts continues to lead the group’s growth in the region and out of the 10 projects lined up for announcement during ATM, seven belong to the Coral brand. “The upcoming hotels in our portfolio will give us stronger presence in key business and leisure destinations in the Middle East particularly the UAE, KSA, Jordan, Syria, Qatar and Oman,” said Michel.”We continue to see exciting development opportunities and believe the time is right for consolidation, growth and expansion. We have confidence that the economy and hotel sector is on a strong rebound track. I am glad to see the diversification we have now in terms of hotel categories. Before we only saw the deluxe 5 star segment in the market. Today we have a mid-market and budget segment coming, so it makes the destinations more appealing and affordable.”
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