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Fairmont Hotels & Resorts to double portfolio in five years
Fairmont Hotels & Resorts plans to double the size of its portfolio in the next five years.
The upmarket group, which currently operates 52 properties, is focusing on the Middle East, Asia and Africa for expansion.
In Egypt the company will open a hotel in Cairo next month called the Fairmont Heliopolis followed by the Fairmont Nile City, also in Cairo, scheduled to open early next year.
The group also plans to operate hotels across the Middle East with more than 10 to be up and running in the next five years. Plans include three properties in Dubai by the end of this year as well as two in Abu Dhabi and one in Oman.
Fairmont also has developments in China with the Peace Hotel in Shanghai scheduled to reopen in 2010 after renovation.
A further three hotels are planned for the region – Beijing in summer 2008, Kunshan in 2009 and a 1500-room property for Macau in 2010.
Executive vice president, marketing and sales Jeff Senior said: “It’s a great time to be in travel and all the indicators suggest people are travelling more than ever and out of their comfort zone. Travel is no longer seen as a privilege but an inherent part of everyone’s lifestyle.”
by Linda Fox
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