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FINANCIAL NEWS
ME to account for 20% of Ritz Carlton’s revenue by 2015
03 May 2012
(MENAFN) Ritz Carlton’s area vice-president for Europe, the Middle East and Africa, Pascal Duchauffour, announced that nearly 20 percent of the hotel firm’s worldwide revenue will come from the Middle East by 2015, reported Gulf News.
Duchauffour said that at the current time, the company’s revenue is divided equally between the US and other international markets, and of the global markets, the Middle East represents approximately 25 percent, Asia 50 percent and Europe the remaining 25 percent.
He also added that by 2015, the company, part of Marriott International, will have at least 15 hotels in the Middle East, compared with 10 now.
It is worth noting that Ritz Carlton’s global portfolio is forecasted to surpass 100 hotels by 2015, from the current 78 hotels.
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