The Spanish hotel management company Barceló Hotel Group is investing more than $400 million in a global expansion strategy, which will allow it to expand its presence in the Middle East, Africa and Türkiye (MEAT) region, with a series of hotel openings. properties planned for 2024 in key new and existing source markets.
The mega investment builds on the group's momentum from 2023, during which it experienced exceptional performance, both in Average Daily Rate (ADR) and occupancy rate, where it opened 25 new properties and achieved a 20 percent increase in rentals. Total revenue. This year, the group's focus will be on the acquisition of new hotels, the rehabilitation of existing properties and the repositioning of projects, while working to reinforce its position as the Spanish leader in hotel management in the MEAT region.
“In 2023, Barceló Hotel Group experienced incredible success across our global portfolio. On this basis, we have outlined a strategic expansion approach that will support the growth of our presence in thriving global travel destinations. The MENA region has grown rapidly in international tourism demand and our growth strategy will focus on key source markets. At Barceló Hotel Group, we are prepared to meet the needs of local and international travelers, enhancing the guest experience with the style of Spanish hospitality,” said José Canals, general director for the Middle East, Asia, Mediterranean and North Africa. from Barceló Hotel Group.
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Among its gradual pipeline of property openings in 2024, the group plans to launch new properties in the United Arab Emirates, Saudi Arabia, Bahrain, Oman, Qatar and Türkiye this year. The Bahrain property, a 195-room hotel in central Manama, will be its debut in the country and is scheduled to open in the second half of 2024. Meanwhile, in the United Arab Emirates, the group's Occidental Al Jaddaf is set to open will undergo a strategic renovation under the 'Barceló' hotel brand as the property achieves five-star hotel rating and is currently preparing to welcome guests such as Barceló Al Jaddaf in the fourth quarter of 2024. In Türkiye, where it already manages and operates Barceló Istanbul and Occidental Taksim in Istanbul, and Occidental Ankara in Ankara, plans to open a fourth property with a five-star hotel under the Barceló brand in Cappadocia this month. The group will also debut its Occidental Hotel & resorts brand in Morocco this year, with a 170-room four-star hotel in Tangier.
The company plans to sign new properties in Oman, in urban travel destinations in Türkiye, renew or rebrand several properties in Africa and with strategic openings in Thailand and the Maldives, including a new city hotel in Malé and North Male Atoll in this last. .
barceló.com
