Katara Hospitality continues assets acquisitions strategy
Katara Hospitality reveals re-investment plans for Doha assets
Doha-based hotel owner, developer and operator Katara Hospitality is charting a steady course for its central strategy, that of the acquisition of iconic assets in global gateway cities, whilst relentlessly re-investing in existing assets, chief operating officer Andrew Humphries disclosed to Hotelier Middle East during an interview at the 2017 Arabian Travel Market (ATM) in Dubai.
“We’re always on the lookout for the right properties. Our strategy has always been the acquisition of iconic hotels, investing in those and re-positioning those in the market and ensuring that these hotels are well taken care of, so this remains our central strategy,” Humphries revealed, echoing what CEO Hamad Abdulla Al-Mulla had shared with Hotelier Middle East three weeks earlier in an interview.
He added: “If the right opportunities come up in the key gateway cities, we’ll certainly look at those. We have a stake in the Savoy in London and we would love to progress with other opportunities in London. We have three hotels in Paris but again, we would still look at the right opportunity there. In New York, we’re very interested.”
Humphries mentioned that gateway cities in Asia would be considered but would not be considered an immediate priority. “There continues to be a focus on key gateway cities but less so in Asia. We will move into Asia in the near future.”
“If the right opportunities come up, we’ll look at those,” he averred.
The company’s top priority remains Doha. “Our main focus in the Middle East remains Doha as it is home base,” Humphries said.
We were, as you know, Qatar National Hotels, so we have a great legacy of hotels within the city and we want to continue to work to develop those, by investing in those as well as all our hotels in the city.”
He continued by saying that The Ritz-Carlton in Doha is nearing the completion of its refurbishment this year and that the Doha Marriott would also be completely refurbished. In additional, upgrades and enhancements are in store for the F&B outlets at The Ritz-Carlton Sharq Village and Spa.
“All of our existing properties are going to be re-invested in. There’s a lot of work that’s being done there within the city,” Humphries concluded.