CHEVY CHASE, Md., May 6, 2014 /PRNewswire/ -- The Ritz-Carlton Hotel Company will open 15 new hotels by 2016, growing its global footprint to 100 hotels and resorts. With new openings ranging from an iconic city property in Cairo to a beachfront resort in Bali, the pipeline of upcoming openings offers travelers unique experiences in both established and emerging destinations.
"This prolific period of growth underscores the rising demand for The Ritz-Carlton in additional locations around the world. Travelers are increasingly curious and venturing beyond their traditional vacation spots to explore cultural and life-style capitals in Asia, Europe, Middle East and the Americas. In tandem, we have also earmarked the Middle East, Asia, Australasia and the Indian Sub-continent as key development regions in the post-2016 period to maintain our growth momentum. Given the rising number of visitors and exciting developments in infrastructure, we anticipate strong business and leisure tourism potential in these markets and look forward to keeping up the momentum," said Bob Kharazmi, global operations officer during a press conference in Dubai today.
Over the next 30 months, The Ritz-Carlton has new luxury properties scheduled to open in Egypt, Tunisia, Morocco, Indonesia, and the People's Republic of China and Panama. This is propelled by the growth of Asia as a tourism powerhouse; The Ritz-Carlton will add five new hotels in the Asia-Pacific region with further development planned in Malaysia and India.
The brand is making a formidable return to Bali with two much-anticipated properties - The Ritz-Carlton, Bali, uniquely situated with a combination of white beach front and elevated cliff top settings, as well as Mandapa, a Ritz-Carlton Reserve in Ubud, Mandapa will be the third global Ritz-Carlton Reserve property and its second in Asia, following Phulay Bay. " Asia is in top form as a tourism and business hub attracting investment and visitors from around the globe. Established destinations such as Bali as well as emerging destinations like Bangalore, are both of immense interest to Ritz-Carlton as we look to fill the gap in the market for a luxury hospitality proposition flawless, personalized service and exceptional properties all with a sense of place," added Kharazmi.Adding to its existing portfolio of eight properties will also expand The Ritz-Carlton footprint in the Middle East & Africa market with The Nile Ritz-Carlton, Cairo ( Egypt); The Ritz-Carlton, Tunis ( Tunisia) as well as The Ritz-Carlton, Marrakech; The Ritz-Carlton, Rabat and the Tamuda Bay Reserve in Morocco. The luxury hotel brand has been on an aggressive growth trajectory with nine new hotels opened within the last 20 months. Destinations include Kyoto, Japan; Herzliya, Israel; Tianjin and Chengdu in China, Bangalore, India; Almaty, Kazakhstan; Aruba; Dorado Beach, Puerto Rico and Vienna, Austria. Note on forward-looking statements : This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements concerning the number of lodging properties we expect to add in the future, the locations of those properties, the year in which particular properties will open, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those we identify below and other risk factors that we identify in Marriott International, Inc.'s most recent quarterly report on Form 10-Q. These risks include changes in market conditions; the continuation and pace of the economic recovery; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; and the availability of capital to finance hotel growth and refurbishment. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. About The Ritz-Carlton Hotel Company, L.L.C. The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 85 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldrige National Quality Award, an award that originated in 1987. Its purpose is to promote the awareness of quality excellence, recognize quality achievements of companies and publicize successful quality strategies. The Ritz-Carlton Hotel Company won the award in 1992 and 1999. For more information, or reservations, contact a travel professional, call toll free in the U.S. 1-800-241-3333, or visit the company web site at www.ritzcarlton.com. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ: MAR). Logo - http://photos.prnewswire.com/prnh/20140410/PH02730LOGO SOURCE The Ritz-Carlton Hotel Company, L.L.C.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts