Kingdom Hotels to splurge in Asia
DUBAI – Kingdom Hotel Investments plans to raise US$100 million to boost its presence in Asia.
The hotel group, in which Saudi Prince Alwaleed bin Talal is a 54 percent shareholder, will use the cash to buy hotels and refinance existing properties in Asia.
Chief executive Sarmad Zok said Asia remains “a priority for expansion”.
“Last year the Middle East was the fastest growing region for expansion. This year the fastest growing region is Asia.”
The company has recently brought development land and operating hotels in the Seychelles, Indonesia and Cambodia.
And in April this year it paid US$58 million for its first Chinese hotel near Shanghai.
Thailand remains the company’s biggest market as a percentage of investment.
The company operates 23 hotels, managed by partners such as Fairmont Hotels and Resorts, Movenpick Holdings and Four Seasons.
Ian Jarrett
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 
Airlines suspend Madagascar services following unrest and army revolt
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airbnb eyes a loyalty program but details remain under wraps
Air Mauritius reduces frequencies to Europe and Asia for the holiday season