A parent company called Hospitality Management Holdings (HMH) has been created by the team that launched the hotel chain Coral International Hotels, Resorts and Spas.
Dubai-based HMH will be made up of six independent firms, four of which are hotel management companies. These include Coral International, Executive Hotels, ECOS Hotels and EWA Hotel Apartments.
The directors of Coral International will serve as the directors of the parent company, which has announced plans to develop 100 hotels in the next four years.
Sheikh Mohammed bin Faisal Al Qassimi, vice-chairman of Coral International, said: "We have had remarkable growth since the launch of Coral International Hotels, Resorts and Spas in 2004. Within four years we have created four strong hospitality brands. This necessitated the formation of a parent firm – HMH. The move follows the decision taken by the board of directors and is part of our efforts to restructure the corporation."
The group has already signed on for 40 upcoming projects across the region and officials said it plans to expand internationally.
Michel Noblet, managing director of Coral International Hotels, Resorts and Spas, said: "We are well-placed for the future and are looking for a bigger presence in the Middle East, Asia and Africa. The move is aimed to maximise HMH's presence beyond the region as well as to open other strategic options for the group. Our objective is to develop 100 hotels over the next four years."
Noblet said the company's location in Dubai would be a strategic advantage.
"We are in the perfect scenario where consumer demand for hotel accommodations for both business and leisure travellers is strong and growing. In fact, hospitality is Dubai's most vibrant and exciting industry thanks to the government's numerous initiatives. This is driving hotel profitability. Being headquartered in Dubai we are well-placed to benefit from these trends. Technology too has brought good news for the global traveller. Self-booking tools help us to secure business from around the world," said Noblet.