Industry Update
Press Release19 September 2016

HMH CEO Laurent A. Voivenel Shares Latest Insights in Hospitality Investment at Vision Conference at The Hotel Show in Dubai

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Hospitality Management Holdings (HMH)

Speaking at the Vision Conference at The Hotel Show in Dubai, CEO of HMH - Hospitality Management Holdings Laurent A. Voivenel shared strategic insights and trends in hospitality investment regarding new projects as well as refurbishments. The panel was chaired by Mr Catalin I. Cighi, Managing Partner, Cain Hospitality Innovation (CHI) and included Ms Annamaria Lambri, Associate Professor of Architecture & Interior Design from American University in Dubai among other experts.

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In an era of tight capex budgets, Mr Voivenel stressed, "A strategic approach is needed to ensure investment is maximized to positively impact both operational performance and capital value. A well thought out and executed capital expenditure strategy in the form of a Hotel Improvement Plan can propel a hotel ahead of its competitive set. There are a number of considerations including age of asset, legislative regulations / changes, emerging consumer preferences and competitive positioning in the market that influence the way in which capital expenditure budgets are directed. Extended period of trading at high occupancy levels heightens the need for refurbishment."

He added, "Often hotel owner and operator capex priorities have not always been in alignment and in many cases at odds. A collaborative approach, whether for soft refurbishment or extensive upgrade programs, is required to plan for improved trading performance, adaptation to technology advances, changes in consumer trends and compliance with legislation. Typically operators and investors work on seven year cycles for room refurbishments and five-year cycles for food, beverage and public areas but this can be extended with well-designed, high-quality fit-out and rolling maintenance programs."

More lodging projects broke ground in certain markets in the Middle East as traditional lenders eased restrictions on construction loan originations. There are 183 hotel projects and 54,000 hotel rooms in the UAE pipeline currently. 10,000 new hotel rooms will open in Dubai throughout 2016.

Related Event

The Hotel Show Dubai

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Dubai World Trade Centre — Dubai, United Arab Emirates
event information

About HMH

Founded in 2003 in Dubai, HMH – Hospitality Management Holdings is a fully-integrated hotel management

company that prides itself on being the first hotel chain in the Middle East to offer halal-friendly, alcohol-free safe environment. It provides hotel owners and developers a broad spectrum of comprehensive management solutions with five distinct, yet complementary, hotel brands catering to varied market segments from budget to luxury. These include The Ajman Palace Hotel, Coral Hotels & Resorts, Corp Hotels, EWA Hotel Apartments and ECOS Hotels. Through its dynamic operation and strategic expansion in the Middle East and North Africa, HMH has been successful in unlocking a world of opportunities while creating value for its stakeholders, associates, staff members and customers. Its existing portfolio features superb properties located in some of the most desirable destinations across the MENA region, as well as a healthy pipeline of hotels under development. For more information about HMH please visit http://www.hmhhotelgroup.com
Contact
Hina Bakht
MPJ (Marketing Pro-Junction)
Phone: +971 50 6975146
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