One to watch for
Much recent Taj corporate strategy has focused on acquiring existing properties, such as a 100-room property at Woolloomooloo Bay in Sydney in December, and the legendary Pierre in New York last July.
This is in line with the company’s strategy of positioning itself at the top end of the market, alongside such brands as the Four Seasons and the Ritz-Carlton.
The Taj group will open doors at its second Dubai property, the Taj Exotica Resort & Spa, on the crescent of The Palm Jumeirah in 2007.
The group is looking at additional properties in Qatar, Bahrain, Saudi Arabia, Lebanon, Egypt, Oman and Morocco. Following the success of its alcohol free Dubai property, it has been approached several times by local investors looking for an international company to manage similar hotels around the GCC, and it is public knowledge that in dry markets like Saudi Arabia and Kuwait, at least, such properties are being considered.