HMH diversifies into budget segment
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Capitalizing on demand for budget accommodation in the GCC, HMH – Hospitality Management Holdings recently announced its foray into budget segment. The Group launched its ECOS Hotels.
Explaining the expansion plans for ‘no frills’ brand, Laurent A Voivenel, CEO, HMH, said: “We are eager to penetrate the untapped market for mid-scale and economy hotels in the region with ECOS Hotels. To start with we have three different projects under consideration in the UAE and first of these will be developed in Dubai.”
Breaking new ground in budget hotels, ECOS Hotels brings a turnkey solution for investors with its minimalist design.
The number of visitors travelling to the region is projected to double reaching 136 million by 2020 compared to 54 m in 2008.
The scale of opportunity in the region means that the GCC has become a lucrative market for budget hotels among investors and operators. Industry sources indicate over 8500 rooms are expected to open in the mid-market segment in the GCC by 2014. Dubai alone will have 2443 economy hotel rooms by 2017 in addition to those planned and under construction.
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