The Ritz-Carlton Hotel Company (RCHC) has unveiled its ambition to expand and develop its worldwide portfolio to comprise more than 100 properties over the next five years.

Under the company's strategic plan, the brand will extend into urban capitals and emerging tourist destinations, with more than US$2bn (£1.2bn) to be invested by its owners.

Three new properties were launched during the first quarter of this year, including the Ritz-Carlton, Hong Kong; the Ritz-Carlton, Toronto in Canada; and a property in Dubai.

Further openings planned for 2011 include sites in Riyadh, Saudi Arabia; Abu Dhabi, UAE; and Ritz-Carlton Residences launches in Toronto, Canada, and Singapore.

RCHC president and chief operations officer Herve Humler said: "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."

Image: Ritz-Carlton Hong Kong – WiNG