Belgian-based Rezidor Hotel Group plans to spend $2.5bn by 2016 expanding its presence across the Middle East and North Africa (Mena) region.
Puneet Chhatwal, Rezidor’s executive vice-president and chief development officer, says the company already has 40 hotels open or under development in Africa and Egypt.
Chhatwal says the plan is to have a presence in 25 African state capitals in the next five years. “Assuming we are opening 2,500 rooms a year in Mena … it will require a total investment of $500m a year,” Chhatwal says.
Rezidor has also targeted three main markets for expansion – Saudi Arabia, Egypt and Qatar.
“We don’t have a presence in Doha and we are hopeful of having a significant presence ahead of the World Cup. We will see all our brands in Doha, including a Missoni,” says Chhatwal.
Rezidor has five brands, including luxury properties under the Hotel Missoni brand, Radisson Blu, Park Inn by Radisson, and Regent.
The company was also impacted by the political unrest in areas such as Libya, Bahrain and Egypt. Business dropped by a quarter in Bahrain while business in Libya dropped by one-tenth, according to Chhatwal.