Abu Dhabi-based hotel and resort operator Rotana has revealed it is to invest US$800m (£503m, euro602m) in expanding its property portfolio across Africa and the Middle East during 2011.
The group will open six new hotels in the United Arab Emirates during 2011, bringing its total to 33 in the emirates, the largest by any single hotel brand, local or foreign.
It is also scheduled to open one new hotel in Qatar as part of an aggressive expansion strategy in the region that will see the hotel group managing a 12,515 rooms across its portfolio of hotels in the region by the end of the year (2011).
According to Selim El Zyr, president and chief executive officer of Rotana, the group's strategic aim is to have a property located in every key city of the Middle East and Africa.
"Location is our main focus when it comes to deciding on managing a property," he added.
"We see a lot of potential in Iraq, where the infrastructure build up is seeing a surge in the influx of international firms taking advantage of the construction boom. Lebanon is also in our radar, because of a booming tourism sector spawned be reforms.
"Plus, Qatar's triumphant World Cup 2022 bid offers plenty of opportunities that we are keen on taking advantage of."
