Legendary London retailer has global hotel plans
Harrods latest in branded boom
Bloomberg reports that the legendary Knightsbridge retail brand Harrods, which is owned by Qatar Holding LLC, the investment arm of the country’s sovereign-wealth fund, will soon be rolling out branded Harrods hotels around the world, joining luxury market competitors like Armani and Bulgari hotel brands.
"We have already decided to build a Harrods Hotel in London, one in Kuala Lumpur and one in Sardinia, Italy": Qatar Holding Vice Chairman Hussain Ali Al-Abdulla told reporters in the Malaysian capital, July 3.
The first Harrods hotel is set to rise in Kuala Lumpur’s trendy Bukit Bintang shopping area at a cost of about $634 million. Construction starts in 2013. The fund’s new hotel management company will be scouting potential properties around the world. It will begin building on sites already owned by Qatar Holding or its affiliates.
"Qatar Holding ultimately intends to grow Harrods into a global enterprise that defines the luxury retailer and leisure sectors": it said.
Armani Hotels, a similarly luxury branded chain, debuted in 2010 and opened its second property in November, 2011. At the more relaxed end of the brand-name hotel spectrum, Virgin Hotels, the new hotel incarnation of Branson’s brand is looking for: "150-400 room properties (in North America) in appealing neighborhoods."
Harrods opulent portfolio need not fear competition. The airline-inspired brand target message, like its inspiration is: "contemporary style and great functionality" rather than gilt, glitz and glamour.
By Gretchen Kelly
Gretchen Kelly
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