The Ritz-Carlton Hotel Company has been charting an extraordinary global development strategy with the Middle East a key area for growth and expansion. The company is expanding its Middle East portfolio from the heartland of Saudi Arabia to Abu Dhabi in the UAE, and the mountains of Oman.
While last year saw the opening of the palatial The Ritz-Carlton, Riyadh, the company will be opening another flagship hotel in the region during the first quarter of 2013, The Ritz-Carlton Abu Dhabi, Grand Canal.
Chris Gabaldon, chief sales and marketing officer said, “Our new hotel in Riyadh is maturing ahead of where we thought it would be at this point of time; it has been well received and enjoyed by our guests and has become a beacon for us, helping to create recognition within the Saudi market.”
Gabaldon is also looking at opportunities in Jeddah or the Eastern Province as demand for The Ritz-Carlton brand increases.
“There are a lot of discussions but there is always the issue of finding the right partner. If you think about the markets that we know are important and where we want to be, I would say Jeddah is among the first choices, and we would like to be there as soon as possible,” he says.
The Ritz-Carlton is also looking to have a hotel in the Eastern Province, says Lori Rippstein, the regional vice president, Sales and Marketing, Europe, Middle East and Africa.
Globally, The Ritz-Carlton will continue to focus on high growth markets, especially the Middle East and Asia.
“We run a hotel model both in Asia and in the Middle East that is successful for us and our owners,” says Gabaldon, pointing out to the booming economies of the Middle East and Asia in general and Saudi Arabia and China in particular.
“These markets are going to play a major part in terms of growth over the next 50 years and what happens in the global economy, so we are going to be part of both these markets. We also want to grow in Europe, North Africa and at some point Africa will also become important,” concluded Gabaldon.