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FINANCIAL NEWS
Emaar Hospitality to tackle French, Moroccan markets
06 May 2010
(MENAFN) Dubai’s Emaar Properties said that its Emaar Hospitality unit will manage two hotels in France and Morocco, and is currently in talks to run more properties under The Address brand globally, Reuters reported.
Chief Executive of Emaar Hospitality, Marc Dardenne, said that the company’s next move is to expand its brand internationally, after registering a good performance at home in the UAE.
He said that the firm has some confirmed hotels, one in the south of France and one in Morocco, and several discussions are taking place at this stage to potentially manage more hotels, not only in the Middle East but also North Africa, Europe, and maybe the firm would start looking at Asia and the US.
Emaar Hospitality, which manages and owns properties in Dubai, will maintain an asset-light strategy for its global operations, sticking to management contracts, he added.
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