Corel Hotel Plans 100 Rooms By 2012
Coral Hotels & Resorts, which currently has properties only in the Middle East, plans to expand into new markets worldwide and have 100 hotels by 2012. They currently have 15 hotels, are expanding aggressively, and will have 15 more by the end of 2009 . Chairman and CEO of Coral’s parent Company Manafa said their vision is to “go global in this sector”. He said they are planning further expansion in the Middle East, North Africa, and South East Asia. The company will make its first foray beyond the Middle East with the completion of Coral Capetown.
Coral Hotels & Resorts began operations five years ago and development investments are now worth $1.5bn (Dh 5.51bn) through the end of 2008.
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