The Ritz-Carlton Hotel Company announced a major expansion and development initiative which it expects will bring the total number of properties in their portfolio to over 100 around the world by 2016. Ranging from Morocco to Mexico, Cairo to Chicago, this strategic plan will expand the brand to urban capitals and emerging tourist destinations, and represents an investment of more than $2 billion by owners.
"While the global economy seems to show a recovery and the climate for interest in hotel and residential development looks encouraging, we are pleased that The Ritz-Carlton development pipeline is filled with potential international growth for the company," said Herve Humler, president and chief operations officer. "Throughout the world, especially in Asia and the Middle East, we expect to be the leading top tier luxury hospitality and lifestyle brand by 2016," Humler said.
In only the first quarter of 2011, The Ritz-Carlton has already opened three iconic properties, including The Ritz-Carlton, Hong Kong - the world's highest hotel, The Ritz-Carlton, Toronto (Canada) and The Ritz-Carlton, Dubai International Financial Centre. By the end of the year, hotels including The Ritz-Carlton, Riyadh (Saudi Arabia), The Ritz-Carlton Abu Dhabi, Grand Canal (United Arab Emirates), and The Ritz-Carlton Residences in Toronto and Singapore are scheduled to debut.
This will be followed in 2012 by a record number of anticipated new openings including Chengdu (China); Herzliya (Israel); Rancho Mirage (California); and an expansion of The Ritz-Carlton, Dubai (United Arab Emirates). Two more Ritz-Carlton residential projects are scheduled be added in Chicago and Montreal.
Also in 2012, The Ritz-Carlton, Montreal—an historic landmark in the city's downtown—plans to become a "partner hotel." Under this agreement, The Ritz-Carlton Hotel Company will provide sales and marketing support for the iconic, independent hotel.
The third Bulgari branded hotel is slated to open in London, joining two other locations in Milan and Bali. "We are proud of our continued arrangement with Bulgari. Each of these hotels have been among the most elite in the world, attracting a distinguished and discerning clientele of celebrities, business leaders, and sophisticated travelers.
By 2013, The Ritz-Carlton plans to be on the map at destinations including Aruba; Dorado Beach (Puerto Rico); Quy Nhon (Vietnam); Panama City (Panama) and Cairo (Egypt). Branded residences are scheduled to open at North Hills, Nassau County (Long Island, New York); and Dorado Beach (Puerto Rico). "The growth of The Residences by The Ritz-Carlton has been impressive, even with the slowdown in the real estate market of the past few years. Affluent customers are choosing these lifestyle options because of their assurance their condominiums and estate homes will be managed in the same exceptional way as our hotels," said Humler. "Whether as a second or third home, or a primary residence, The Residences have proven to be a very successful concept with brand loyalists."
In 2014, The Ritz-Carlton plans to once again return to the island of Bali, with a resort at Sawangan. The Residences are slated to open in Bangkok (Thailand) and Similan Beach (Thailand). Four Reserve properties plan to welcome guests looking for a memorable and intimate vacation experience in Muscat (Oman), Similan Beach, (Thailand); San Jose del Cabo, (Mexico) and Tamuda Bay (Morocco) A third Japanese property is scheduled to open in the resort town of Kyoto (Japan.) A Ritz-Carlton hotel is slated to be built in Rabat (Morocco).
The next year, 2015, includes plans for a second location in Cairo at Palm Hills (Egypt) and Residences in Kuala Lumpur (Malaysia) are also under development. This will be followed in 2016 with the anticipated opening of The Ritz-Carlton, Qingdao Green Town (China).