Business | Tourism
Global Hyatt on expansion drive in Gulf
Global Hyatt, the fusion of Hyatt International and Hyatt Hotels Corporation in North America, is expanding in the Middle East, opening six more hotels in the next three years.
- By Nermeen Alireza, Staff Reporter
- Published: 00:00 May 7, 2005
Global Hyatt, the fusion of Hyatt International and Hyatt Hotels Corporation in North America, is expanding in the Middle East, opening six more hotels in the next three years.
A top Hyatt official said at a press conference at the Arabian Travel Market 2005 that the US-based company will open seven hotels in the Middle East and North Africa (Mena) region, with two of them in the UAE, three in Egypt, one in Jordan and one in Morocco.
According to the official, five of the new hotels will be funded by private investors, while the sixth hotel in Jeddah will be owned by Global Hyatt.
Global Hyatt, which was formed in December 2004, is eyeing the region's hotel market as one of the promising expansion areas.
"It's still expanding, because there's more capacity and the market and
the tourist industry is growing. The governments of the Middle Eastern countries are also developing their tourism sectors," Thierry Bertin, Area Director of Sales and Marketing Middle East, Hyatt International, told Gulf News. The company's expansion plan also includes opening 35 new hotels world wide, which include the 6 hotels in the Middle East, and a $ 500 million budget for renovation of its existing hotel products.
Global Hyatt has 212 hotels worldwide in 43 countries, according to figures released by the company at the end of this year's first quarter.
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
