R Hotels in talks to sign three new hotels
The group is in talks with two properties in Dubai and one in London
R Hotels is currently in talks with three different properties, two in Dubai and one in London to expand its portfolio. If the company gets the deal at their price, they may acquire the properties.
Hotelier Middle East also recently reported that R hotels is open to taking on management projects for owners apart from parent company, R holdings.
While the group has existing investments in London, if the hotel deal goes through, it will mark R Hotel’s first venture outside the UAE. However, the company is waiting for the uncertainty from Brexit to settle down before transitioning the deal, according to Sumair Tariq, managing director, R Hotels.
“Many companies are waiting to see what will happen in the region as a result of Brexit. The UK is a resilient market and it will come out strong whatever course it takes, but we have to see which direction it will take, to time our investments,” Tariq said.
The company previously looked at hotels in Jeddah, Makkah and Madina, but so far none materialised. However religious tourism is an attractive market and the company might still pursue projects in those cities.