Dramatic growth seen by hotel chain
After divesting some of its assets, Fairmont Raffles Hotels International is looking to grow by 50% with 150 properties during the next five years, COO Michael Glennie told HotelNewsNow.com.
"That’s pretty dramatic,” he said.
Almost 90% of that growth will be outside North America , he said. Properties are being added in Zurich , Dubai , Singapore , Shanghai and India .
He said each of the three brands in Fairmont Raffles’ portfolio—Fairmont Hotels & Resorts, Raffles Hotels & Resorts and Swissôtel Hotels & Resorts—are focused on getting into primary cities across the globe.
For various reasons that include a scarcity of inventory and restrictive zoning, these are often cities that are difficult to add new properties.
The company will continue to hold on to a select few assets; it also will buy, renovate and resell a few others, Glennie told the site.
Fairmont Raffles was “incredibly lucky” by bringing most of its assets to market between 2006 and 2008, when hotels were fetching peak values, he said.
“We’re coming out of one of the worst recessions and everyone has cut back, and now we’re starting to see the business improve,” he said.
By David Wilkening
David
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports