Peninsula Hotel reluctant to expand in Middle East
April 1- There are no plans in the offing to expand operations in the Middle for the next few years at least, said Peninsula Hotel Group’s Chief Operating Officer (CEO), Peter Borer. The Hong Kong based group is focusing on India at the moment since it is an emerging market. The group’s delay in expansion is possibly because of the slump that the hospitality industry is facing in the region. “That’s why we are waiting,” added Borer.
The group currently owns nine properties across the Far East and the United States and has only one hotel project under construction in partnership with Qatari Diar Real Estate Investment Company that is scheduled to open in Paris in 2012.
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