Qatari investor plans to acquire 50 hotels by 2015
Al Faisal, which recently bought London W hotel, eyes 10K Qatar rooms
The group chief operating officer for Qatar investor Al Faisal Holdings, the firm that snapped up the W Hotel in London last month for US $313 million, has revealed that more acquisitions are on the way.
Mohamed Dobashi told Hotelier Middle East that the next purchase is likely to be in the US: "We’re looking at two or three acquisitions particularly in North America. This is a great opportunity for buying, there are a lot of great deals out there and we’re a company that is not afraid to take a risk."
The group has a warchest of undislosed value which it plans to use to buy 50 hotels worldwide by 2015, with 10,000 rooms earmarked for Qatar alone. In the latter case, Dobashi says the group aims for a mix of four- and five-star properties, owing to 'gaps' in the existing market.
"I do think there are gaps in the market in that area. We’ve got five [hotels] that are planned within the next three years, of which three are four star hotels. There’s room there [for more] as well," he stated.