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Hotelier plans 25 more locales by 2016
The Ritz-Carlton Hotel Co. LLC says it plans to open more than 25 properties within the next five years. Ranging from Morocco to Mexico, Cairo to Chicago, the hotelier says its growth plans involve expanding its brands to urban capitals and emerging tourist destinations, and represents an investment of more than $2 billion by the company’s owners.
“While the global economy seems to show a recovery and the climate for interest in hotel and residential development looks encouraging, we are pleased that The Ritz-Carlton development pipeline is filled with potential international growth for the company,” said Herve Humler, president and chief operations officer of Ritz-Carlton, which currently operates 75 hotels. “Throughout the world, especially in Asia and the Middle East, we expect to be the leading top tier luxury hospitality and lifestyle brand by 2016.”
Thus far this year, Ritz-Carlton has opened locales under its flagship brand in Hong Kong, Toronto and Dubai. Still on tap for 2011 are hotels in Riyadh, Saudi Arabia, and Abu-Dhabi, United Arab Emirates, along with Ritz-Carlton Residences in Toronto and Singapore.
The company’s 2012 openings include hotels in Chengdu, China; Herzliya, Israel; and Rancho Mirage, Calif.; as well as an expansion of The Ritz-Carlton in Dubai and the addition of branded residential projects in Chicago and Montreal. Also in 2012, Ritz-Carlton will open its third Bulgari-branded hotel in London, joining other locations in Milan and Bali.
In 2013, Ritz-Carltons will open in Aruba; Dorado Beach, Puerto Rico; Quy Nhon, Vietnam; Panama City, Panama; and Cairo, Egypt. The company will also open branded residences on Long Island, N.Y. and Dorado Beach, Puerto Rico.
In 2014, The Ritz-Carlton plans to open a resort at Sawangan, Bali, and residences at Bangkok and Similan Beach, Thailand. The company also plans to open Reserve properties in Muscat, Oman; Similan Beach, Thailand; San Jose del Cabo, Mexico; and Tamuda Bay, Morocco. Also that year, a third Japanese property is scheduled to open in Kyoto; and a Ritz-Carlton hotel is slated to be built in Rabat, Morocco.
In 2015, the hotelier plans a second location in Cairo, Egypt, as well as residences in Kuala Lumpur, Malaysia. Then, in 2016, the company expects to open The Ritz-Carlton in Qingdao, China.
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