QATAR
set to open in the third quarter of 2012. Te 378-room hotel is located in the banking district, and its 282 rooms and 96 two-bedroom residents’ suites will be open for business as part of a business park which will also include banking facilities, offices and other services. Te property is the third IHG property to be opened in Doha. A new 258-room Hilton Garden Inn Doha Al Sadd is scheduled to open mid- 2012, being the third Hilton Garden Inn hotel in the Middle East.
Hospitality giants Qatar National Hotels, (QNH) the asset owner, developer and manager of a
growing hospitality portfolio across three continents, is set to reveal exciting plans for future development at the UAE’s Arabian Travel Market, after this publication goes to press. Te Doha-headquartered hospitality giant plans to unveil details of its
strategic expansion programme to the regional and international tourism industry. His Excellency Sheikh Nawaf bin Jassim bin Jabor Al Tani, chairman of Qatar National Hotels Company, said: “We have been at the forefront of Qatar’s development since its creation and are responsible for growing the country’s hospitality product. In addition to introducing the world’s best known luxury hotel brands to this market, we are also targeting business travellers through our own Merweb group of hotels.” “QNH plays a vital role in positioning Qatar as a global hospitality player, as part of the government’s far-reaching National Vision 2030 economic development and diversification programme,” he added. QNH has already added to its portfolio in 2012 with the acquisition of two
iconic Raffles properties in Singapore and Paris. Te group is also redeveloping Tangier’s historic Tazi Palace, at a cost of $55 million. “Our focus is to use our investment wealth to continue on the path of
success that we have achieved in recent years through our thriving portfolio of Qatar-based hotels, and growing portfolio of international properties, and to invest today for future generations,” said Sheikh Nawaf.
Bank on Qatar Te strength of Qatar’s banking sector underscores the Gulf state›s ability to finance all these major planned projects. Strong financial sector performance, projected GDP growth of 6 per cent in 2012, and the liquidity of its banking sector bode well for future investments. At the end of 2011, total assets of the country’s commercial banks grew by 22.3 per cent to $190.6 billion in 2011 from 2010. Customer deposits increased by more than 18.5 per cent to $100 billion. Meanwhile, credit facilities to customers rose by 28.2 per cent to $103.5 billion. Qatar’s financial performance is even more impressive, given the analysts’
fears of contagion from the Euro zone debt crisis, and continuing slow growth in the United States and other developed markets.
Te sky’s not the limit Qatar’s national carrier Qatar Airways goes from strength to strength, announcing new routes, new partnerships and new concepts, all of which help place the tiny state on the global tourism map. After just 15 years of operation, the airline now operates a fleet of 105 aircraft
to 112 destinations. It recently revealed its newly unveiled Boeing 787 Dreamliner Business and
Economy Class seats. Te first of 60 Boeing 787s, of which Qatar Airways is the Middle East launch customer, will join the fleet this summer. With 14 new routes being added to Qatar Airways’ international network
during 2012, there is huge interest in the airline’s rapid global expansion and in the New Doha International Airport, set to open at the end of the year. Qatar Airways Chief Executive Officer Akbar Al Baker recently revealed the launch of flights to Kilimanjaro (Tanzania), Erbil and Baghdad in Iraq, Belgrade in Serbia and the Myanmar capital, Yangon; Zagreb, Croatia; Perth, Australia and Mombasa, Kenya, on top of recently launched services to Rwandan capital, Kigali; Tbilisi, Georgia and Baku, Azerbaijan. Even more additional new routes launching this year with dates yet to be announced are Zanzibar, Tanzania; Helsinki, Finland and Gassim in Saudi Arabia l
52 I CITYSCAPE I MAY 2012
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