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Indian luxury hotel major Oberoi has said that it was on track with funding for its upcoming West Asian properties. Oberoi Hotels and Resorts proposes to open a city hotel in Dubai, a city hotel and a beach resort in Abu Dhabi, a beach resort in Oman and a property in Marrakech, Morocco.
“All the funding is in place. I think there was a slowdown for the property in Oman but so far our partners have not run out of cash,” the luxury hotel group’s new president Liam Lambert said in comments published by ‘Hotelier Middle East’ recently. “We did have two or three other projects that we were going to sign up for and they didn’t come about because the funding was not in place. We own most of our properties and have equity in the Dubai, Abu Dhabi and Morocco properties,” he added.
“Now that we have built up equity in our brand we are being approached by more developers who are willing to build to our specifications and give us management contracts. We will expand in this region (Central Asia/West Asia) primarily,” he said.
“There is a risk factor but occupancies in Dubai are doing well. We feel our projects are viable,” he added. He indicated that Oberoi will have flexible pricing while trying to stay at the top segment of the market.
To further its growth in West Asia, Oberoi said it has appointed a new vice president sales and marketing EMEA. Indian luxury hotel major Oberoi has said that it was on track with funding for its upcoming West Asian properties.
Oberoi Hotels and Resorts proposes to open a city hotel in Dubai, a city hotel and a beach resort in Abu Dhabi, a beach resort in Oman and a property in Marrakech, Morocco.
“All the funding is in place. I think there was a slowdown for the property in Oman but so far our partners have not run out of cash,” the luxury hotel group’s new president Liam Lambert said in comments published by ‘Hotelier Middle East’ recently.
“We did have two or three other projects that we were going to sign up for and they didn’t come about because the funding was not in place. We own most of our properties and have equity in the Dubai, Abu Dhabi and Morocco properties,” he added.
“Now that we have built up equity in our brand we are being approached by more developers who are willing to build to our specifications and give us management contracts. We will expand in this region (Central Asia/West Asia) primarily,” he said.
“There is a risk factor but occupancies in Dubai are doing well. We feel our projects are viable,” he added. He indicated that Oberoi will have flexible pricing while trying to stay at the top segment of the market.
To further its growth in West Asia, Oberoi said it has appointed a new vice president sales and marketing EMEA.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
