Refad set to expand
We like to put people who know the ins and outs of the hotel business in operating different segments of Refad as we are a British/Dutch hospitality company and our aim is to be an international hotel chain,” Antoine Yazbeck, president of Refad Resorts and Hotels, said.
“We are now currently operating five of our brands and four others brands are under construction. We, at Refad Hotel and Resorts, have a $250 million investment fund to run and operate hotels under management agreement.”
He added: “The first year we opened nine properties and this year, we hope to open at least five. As for the Oqyana, taking shape on Nakheel’s ‘The World’ project in Dubai, there are currently 14 islands, and on this project Refad is to operate one hotel, one resort and one spa, as we have also good experience in spa operations like our German property spa, and this we will do under management agreement.”
Refad has five brands: The Monarch, The Refad Resorts, The Square, The Four Stars and The Rester Palace as well as The Rester residences. “Our concern is to build these brands as we are different from other groups. As we have a closer relationship with the owners, we can focus together and study on the projects on hand with more flexibility than bigger companies,” added Yazbeck.
“Refad Hotels & Resorts are currently negotiating 20 properties now including a property in Austria which used to be Keiser’s residence. Another is a boutique hotel in Jounia, Lebanon, where The Four Stars brand will be operational,” summed up Yazbeck.
By Sara Al Haji