Louvre Hotels Group is aiming to grow across the Middle East and North Africa by opening 40 budget and economy hotels over the next five years, according to a senior Louvre Hotels executive.
Two of the company's fastest-growing brands—Première Classe, a limited-service budget hotel; and Campanile, a mid-market brand—will drive the expansion. “The new hotels aim to fill the existing gap in the budget and economy segment," Rami Moukarzel, vice president - development and acquisitions, MENA, Louvre Hotels Group, said. Louvre Hotels already manages 60 hotels with more than 8,000 rooms across the region, he noted. "Expansion opportunities have been identified across the GCC, commencing with Saudi Arabia, the UAE and Oman, and we are also exploring opportunities in emerging markets in North Africa and the Levant.”
The company is eyeing primary, secondary and tertiary cities in Saudi Arabia, the UAE and Qatar. Première Classe will open its first hotel in Jeddah, Saudi Arabia, in 2018, while Louvre is expected to announce its first Campanile hotel in the region for a 2018 opening.
Worldwide, Première Classe and Campanile operate more than 650 properties.
Source: Trade Arabia