Laurent A Voivenel
Coral Hotels eyes major GCC expansion
Dubai, July 9, 2014
With the recent brand revamp and digital overhaul, Coral Hotels & Resorts is looking to expand its footprint in the GCC and by 2020 aims is to have a hotel in every GCC country while doubling its portfolio in the UAE, said a top official.
“We are fully loaded for expansion having invested heavily in digital platforms including a dynamic new multi-lingual group website that has just gone live,” said Laurent A Voivenel, CEO of Dubai-based HMH – Hospitality Management Holdings, a fully-integrated hotel management company.
“It is technology that is driving growth today and underlines our strength with a highly integrated online presence. 2014 is a decisive year. Our objective is to be able to compete on equal terms with our rivals. The decisions taken this year will determine the shape of our business over the next three or four years.”
Coral Hotels & Resorts has gone from strength to strength despite a tough phase during the economic crisis and later the Arab Spring. With five new hotels opening in quick succession under the HMH banner, expansion is a key part of the company's future strategy, Voivenel noted.
“We are in the region's fastest-growing markets with very promising development prospects. And being alcohol-free our brands are an ideal fit for developers looking to offer a safe and family-friendly environment,” Voivenel said.
“Let’s not forget alcohol-free hotels have their own following, and is the primary reason for Coral Hotels & Resorts to have gained customer loyalty and market share quite rapidly. Not surprisingly we have been seeing consistent double digit growth.
“The competition is intensifying with the market getting increasingly crowded. However, Coral Hotels & Resorts is a strong brand that is well-positioned to win a bigger market share with a high visibility and reach.
“We are now looking for a more balanced geographic growth in the region. Having said so the GCC - UAE and Saudi Arabia in particular - are central to our expansion strategy at HMH. If you are not strong in your home market, you lose your DNA. The key thing is to get the right locations and products. The travel and tourism forecasts look very promising and we are eager to capitalize on this buoyant scenario,” he added. – TradeArabia News Service